payment processors @ BehindMLM

Maxim Chukharev was one of the seven individuals indicted in connection to the Liberty Reserve payment processor. A hotbed of MLM underbelly fraud, among other things, Liberty Reserve was shut down for money laundering mid last year.

In its heyday, Liberty Reserve was the darling of countless scams that populated the MLM underbelly. And that was only a fraction of the fraud they got up. The argument that the payment processor was simply trying to be the next Paypal was never going to hold up in court. Yet that’s the excuse that [Continue reading…]

Following the termination processing services by Payoneer, Achieve affiliates waited nervously for the company to acquire new ewallet services to pay them with. Purportedly Achieve has found a company willing to take on the risk of providing services to a matrix cycler Ponzi scheme, but who it is they’re not ready to say just yet. [Continue reading…]

In its later days, NxPay was the ewallet of choice for Zeek Rewards. The e-wallet service operates as a “platform” for transferring funds between two parties: one party makes funds available to another party, but until the receiving party takes action to withdraw the funds, “the funds are within the control of the party transferring the funds and [Continue reading…]

Payoneer is the processor and they do not take on ponzi’s or pyramid schemes. None of the fly-by-night programs can even dream of Payoneer. -Achieve Community affiliate on social media, 5th November 2014 Another day, another pyramid cycler has their payment processor services terminated. On their website Payoneer claim they enable millions of businesses and professionals [Continue reading…]

Against the backdrop of payment processors continuing to provide services to the MLM underbelly’s shadiest of schemes, the Liberty Reserve money laundering case continues. Once describing itself as ‘the oldest, safest and most popular payment processor’, Liberty Reserve was shutdown in mid 2013 for money laundering. Co-founder Vladmir Kats was the first to accept responsibility, having pled [Continue reading…]

All but confirming their Paypal and Solid Trust Pay account(s) have been suspended and/or possibly frozen, Race Cycler have sent out an email update announcing they have approached i-Payout. Sent out to Race Cycler affiliates a few hours ago, Kent Brown writes

Plastic Cash International LLC, who refer to themselves as one ‘of the prepaid industry’s most prominent players‘, was the credit-card processor for Zeek Rewards. Plastic Cash International processed credit card payments from affiliates for (Zeek Rewards). The processed payments were deposited into an account to be held for the benefit of (Zeek Rewards). Zeek Rewards, [Continue reading…]

Late yesterday we reported on iPayout disabling the ewallet services they were providing to TelexFree. Since then, some interesting developments have come to light.

Just a brief update on this (working on some lengthier articles for later publication). Earlier today TelexFree’s payment processor, iPayout, pulled the company’s ewallet services offline.