payment processors @ BehindMLM

The specifics of Payza’s business operations have always been murky. We knew the company was co-founded by brothers Firoz and Ferhan Patel, Canadian citizens, who operated Payza via the UK shell company MH Pillars. Beyond that though specifics have been elusive… up until now. Following a federal indictment of the Patel brothers earlier this month, the [Continue reading…]

For years Payza has been the defacto payment processor darling of the MLM underbelly. Founded by brothers Firoz and Ferhan Patel, who weren’t above personally promoting their partnership with Ponzi schemes, Payza was operated out of Montreal, Canada. Both Firoz and Ferhan Patel are Canadian citizens. Earlier this month the Patel brothers were indicted by a [Continue reading…]

Last December the My Advertising Pays sued payment processor VX Gateway for $59.6 million dollars. The Ponzi scheme alleged VX Gateway was wrongfully withholding investor funds and sought recovery. VX Gateway opposed legal action in Texas and sought to the have the lawsuit dismissed in favor of arbitration in Panama. A decision was made on [Continue reading…]

Known throughout the MLM underbelly for it’s prohibition of Ponzi and pyramid schemes, PayPal nonetheless still pops up as a payment processor for various schemes. The problem with PayPal’s current fraud detection mechanisms is that, by the time it’s detected, the damage has already been done or PayPal quietly freeze the account. No information is [Continue reading…]

Last month My Advertising Pays filed a lawsuit against payment processor VX Gateway. According to My Advertising Pays, VX Gateway, Celia Dunlop and Timothy Mackay stole $59.6 million, money that My Advertising Pays in turn stole from affiliates through Ponzi fraud. The case is making its way through the legal system, with both parties currently [Continue reading…]

Following a hearing on December 7th, the Temporary Restraining Order My Advertising Pays had sought against VX Gateway has been denied.

I checked the docket earlier and as of yet there’s no news regarding today’s TRO and preliminary injunction hearing. In the last twenty-four hours however, VX Gateway has filed a response in opposition to My Advertising Pay’s motion.

While scammers are happy to defraud the general public out of millions of dollars each year, turns out they themselves don’t like being scammed. Yeah I know, shocking…

My Advertising Pays initially launched in 2013. The business model was simple: My Advertising Pays affiliates invested $49.99 on the promise of an advertised $60 ROI. By the end of 2015 My Advertising Pays began to show signs of collapse. The company kept itself afloat however by paying US affiliates a fraction of the $60 [Continue reading…]

The next chapter in the TelexFree Trustee, PaymentWorld, Payza and VictoriaBank saga is an opposition filing by PaymentWorld. As far as the TelexFree Trustee is concerned, PaymentWorld US, PaymentWorld Limited and PaymentWorld LTD SRL are all the same entity. PaymentWorld US and PaymentWorld Moldova have the same management and oversight personnel. PaymentWorld US however are [Continue reading…]