Payza terminate US payment processing, status of client funds unknown
The latest move by Payza co-founder and fugitive Firoz Patel, has been to terminate payment processor services to US residents.
It appears now, like Patel, Payza itself is on the run from US authorities.
Payza’s abandoning of US clients was announced via email on March 23rd.
Dodging the $250 million money laundering lawsuit and Patel’s indictment and fugitive status, Payza simply states their “previous domain is no longer accessible”.
Payza clients, many of whom US regulators allege are criminals, scammers and child pornography rings, have been instructed to use the company’s new EU domain.
Firoz Patel is believed to have hastily set up Payza’s EU domain after the DOJ and HSI seized the company’s .com domain.
Our new domain defines Payza as being a European service.
Payza EU was initially providing processing services to US residents through Synapse Financial, however that agreement is believed to have since been terminated.
Unfortunately for Payza’s US clients, they’ve been excluded from Patel’s plan to relaunch Payza as a “European service”.
Payza is no longer offered as a service to US residents.
This means that no transactions are allowed for US members at this time and Payza will no longer be servicing businesses registered in the US, neither providing US payout services or US based withdrawals.
There is no mention of the status of funds US Payza clients had in their wallets prior to the announcement. Nor is there any indication Payza will return funds to their US clients.
Payza’s social media accounts have been flooded with complaints from US investors wondering where their money is.
Clients outside of the US meanwhile are complaining of withdrawal delays lasting more than a week.
And that’s just what we’ve been able to ascertain from the comments Payza haven’t deleted.
In other words he is open for deposits but do not process withdrawals. All money goes to firoz patel personal bank accounts in Belize or India.
Wonder when they will start to raid offices and arrest staff for helping a fugitive?!
No wonder the Bitcoin price has tanked. Most of the transactions globally must have been by scammers and scamees.
India is not a tax heaven so funds are not protected. He will only use Belize bank.
I’m from India… These assholes are not giving me my withdrawal too… I requested a $400 Bank transfer withdrawal 7 days ago & it’s still pending…
Many people are complaining on their official FB page about missing Bitcoin withdrawals & long-pending bank transfers & most of them are not US residents…
They are not giving withdrawals to anyone, not just US residents…