Friday, 11 August 2017

Tony and Lynne Booth - Defending My Advertising Pays In a Court of Law

On July 25th 2017, a small claims case was filed against Tony and Lynne Booth for the return of over £4000 paid to My Advertising Pays.

Tony and Lynne had 14 days (13th August 2017) in which to respond.

This response was received today:

Dear Miss ********
Booth - Litigation Matter Against *******
We act for Mr & Mrs Booth in respect of the claim you have brought against them.
We enclose acknowledgement of service that has been registered online.
It is our clients instructions that we are to defend the whole of the claim not least because any agreement you had was with a limited company and not our clients.

Yours sincerely,
Haworth & Lees Solicitors Limited'

So it looks like Tony and Lynne will be appearing in a Court room and will have to defend My Advertising Pays. All the evidence against them can be presented in a Court of Law and we can see what the Judge decides.

The lady bringing this case is keen for as many people as possible to show up and support her.
I will certainly let you know the Court date nearer the time so you can do just that.


The post below was published on our My Advertising Pays Scam Facebook page but has just been removed for not following Facebooks Community Standards.

Tuesday, 8 August 2017

Securities and Exchange Commission - Actively Seeking Ponzi Scams

An interesting report has been released today from the SEC regarding its investigation of Investments and Securities. 
Within the post below is a reference to 'unregistered offerings', which is why the Ponzi scams we expose regard the 'I' word with such horror and will do anything to avoid using it. 
Charles Scoville from Traffic Monsoon is currently going through the US Courts and has been charged with these offences:

Violation of Section 17(a)(1) of the Securities Act [15 U.S.C. § 77q(a)(1)] 

Violation of Section 17(a)(3) of the Securities Act [15 U.S.C. § 77q(a)(3)] 

Violation of Section 10(b) of the Securities Act [15 U.S.C. § 78j(b)] and Rule 10b-5(a) and
(c) thereunder [17 U.F.R. § 240.10b-5(a) and (c)] 

Violation of Sections 5(a) and (c) of the Securities Act [15 U.S.C. § 77e(a) and (c)]

Lets hope many more follow.

This video was released with the press statement:

SEC Staff Publishes Report on Access to Capital and Market Liquidity
08/08/2017 04:30 PM EDT

The SEC Division of Economic and Risk Analysis (DERA) today published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how those trends relate to post-crisis regulatory reforms. The report was requested by Congress as part of the FY2016 appropriations process.

The report includes a survey and analysis of recent academic literature, as well as original analyses drawn from publicly available databases and non-public regulatory filings. The report examines the issuance of debt, equity, and asset-backed securities, as well as activity and liquidity in U.S. Treasuries, corporate bonds, single-name credit default swaps, and bond funds. Specifically, the report identifies trends for unregistered offerings, such as those under Regulation D and Regulation Crowdfunding, as well as fixed income transactions, fixed income quotations, and broker-dealer financial positions.

"The health of our primary and secondary markets is critical, and it is important for the SEC, as a key regulator of these markets, to engage in data-driven analysis of market trends and the range of issues that may be influencing those trends. This report both provides a current view of these topics, based on available data, as well as highlighting areas where future analysis could be warranted," said DERA Acting Director Scott Bauguess.

For more information about the study, and its findings, analyses and conclusions, follow DERA on Twitter, @SEC_DERA.

Monday, 31 July 2017

Charles Scoville - Why Traffic Monsoon Isn't a Ponzi

Charles Scoville is again telling us Traffic Monsoon isn't a Ponzi. He uses example after example to explain his reasons why. But in 2015, he contradicted everything he says here:

July 31st 2017:
Update on what's happening now in the case can be found at the end of this post below.
So the Howey Test is the legal instrument to measure whether something is an investment or not.

The Howey Test, let's go through the bullet points.
1. Is there an investment of money?
- Reviewing the website, it clearly and repeatedly makes sure the potential customer is fully aware that the offer is for ad service, and not any investment. There are no refunds. Therefore a purchase of ad service is a purchase of service, and not an investment.
- The definition of an investment is placing your money into someone else's management control, but the money still belongs to you. As specified on TM, a purchase of ad service is not an investment nor a deposit. Money spent on ad service no longer still belongs to the customer. After payment of service and being credited what was paid for, the money spent rightfully belongs to the company.'

Charles 2015:
'When our members purchase a service from TrafficMonsoon, the revenues from that purchase are held by the company. Then, you can qualify to receive share of the profits! Naturally there is cost associated with providing services. Each service provided generates a profit margin. We share those profits with you!'

2. Does TM promise returns using a common enterprise (investment project)?
- Reviewing the website, you'll find there is no promise for any returns whatsoever.
- When you look over the website, there is no description for placing money into TM and that TM will use your money in a way aimed at gaining returns through some investment project.
- There is no pitch to invest, no investment project mentioned, and no returns offered.

Charles 2015:
'When our members purchase a service from TrafficMonsoon, the revenues from that purchase are held by the company. Then, you can qualify to receive share of the profits! Naturally there is cost associated with providing services. Each service provided generates a profit margin. We share those profits with you!'

3. Is the money invested placed (or promised to be) into any common enterprise (investment project).
- There is no investment project/common enterprise, nor was there said to be. There was not anything that said that money from customers would be used in any investment project, and the returns from the investment project were owed to the customer.

Charles 2015:
'When our members purchase a service from TrafficMonsoon, the revenues from that purchase are held by the company. Then, you can qualify to receive share of the profits! Naturally there is cost associated with providing services. Each service provided generates a profit margin. We share those profits with you!'

4. Are returns on investment from the managerial or entrepreneurial efforts of others?
- There are no returns on investment
- Any money received comes due to an individuals own effort. Must surf to receive any potential reward for surfing.
- Reward given for surfing does not carry the same legal definition as a return on any investment.

Charles 2015:
'When our members purchase a service from TrafficMonsoon, the revenues from that purchase are held by the company. Then, you can qualify to receive share of the profits! Naturally there is cost associated with providing services. Each service provided generates a profit margin. We share those profits with you!'

Can it be more clear? No security (meaning investment) truly exists within TM. The sec really have no jurisdiction, and this case shouldn't have ever happened.

As you can see by legal definition, the SEC are wrong, and the case should resolve in our favor. Published February 19, 2014 and quoted elsewhere too, the SEC enforcement director Andrew
Ceresney told The Washington Post, "If you’re not losing cases, you’re not being aggressive enough."

The SEC are overreaching, and are simply being aggressive bullies.. and sadly, the impact of their witch-hunt (added on top of the impact of the PayPal limitation) has hurt so many people all around the world, and they are only doing it for career advancements, recognition, etc-…/SEC-fight-valentine-rabner-cor…'

As it says in this article, "Mr. Ceresney’s comment came as no surprise to us. Over our combined 23 years representing clients in SEC matters, willingness to push the envelope in close cases—to “regulate by enforcement”—has been a hallmark of the agency’s enforcement division."

*I highly recommend reading this article to understand more about the SEC and their history of misapplying the law in their accusations.*

Keep in mind, the notice of appeal on the preliminary injunction was filed 14 April 2017, and I've been advised by attorneys this appeals process can take about a year.. sometimes more, and sometimes less, so there will be little or no change in the case until then.

If for whatever reason we do not prevail on the appeal, then the case will continue forward through depositions, discovery, and other steps which can take years before a trial with a jury to determine whether TM is liable for what the SEC allege. I'm hopeful through this appeal we can display based upon the legal definitions why this case shouldn't have even been brought against TM.'

Thursday, 27 July 2017

Tony and Lynne Booth My Advertising Pays - Small Claims Case Launched

A Small Claims case against Tony and Lynne Booth from My Advertising Pays was filed on
July 27th 2017. 
The Claimants are seeking to recover in excess of £4000.
The County Court papers have been received by the Claimant and the defendants have until August 17th 2017 to respond.

Please watch this space for future updates.

Sunday, 23 July 2017

Tony Booth, Lynne Booth and Michael Deese - My Advertising Pays and Recodeit

Tony and Lynne Booth met Mike Deese in 2012. 
Tony used to have an online blog (now unavailable) in which he tells the full story of how they met:

'My wife and I first heard of Mike Deese back in 2012 when we started to look into the online world of advertising for our window installation company. We fully expected to find many online companies and network marketers ready to SCAM us and take our money.
Mike was at this time an expert internet marketer making a living online. He was an excellent unbiased network blogger offering genuine good advice of how to get the most from this new online world where you are more likely to find SCAMS first.
He never asked us as his followers to join a program he was involved in but was more than helpful in offering sound advice without charge. We soon began to trust him and his views and indeed joined a couple of programs he recommended but not under him at this timenasnwe wanted to see if this guy was for real.
Sure enough we found the advice to be good and started to make our first money online. Mike still althrough not earning any commissions from our efforts would still continue to offer his helpful advice and gain more of our trust.
We built on online relationship with him over the coming year until early 2013 when Mike called Lynne and announced that he would no longer be offering any more advice on internet programs no matter how good they looked and even if they passed his strict acid test.
He felt that the industry was failing him too much as so many companies were falling away and he did not want to be the person advising anyone to join any of these unstable opportunities. Mike did not want to put his name to a company and someone puts there last $50 only to find it gone three months later.
Lynne asked him what he would do instead his reply " I cannot and will not recommend another online company unless it is my own.  The only way I can trust and recommend another online company is to build my own."
He then disappeared from the market place for three months to do exactly this in March 2013.
June 2013 Mike Deese put out a call to action for his followers of which Lynne was one of the respondents. As a consequence of these email communications we arranged a meeting with him via Skype. This four hour meeting was to prove an incredible change of direction for Lynne and myself as he unfolded his idea of My Advertising Pays. We developed our business relationship and soon after fantastic friendship with him.
This is the sole reason My Advertising Pays was born, out of Mike's frustration of all the failed mismanaged and out and out SCAM companies.'

By Tonys own admission, both he and Lynne developed My Advertising Pays together with Mike. Mike even recognises their contributions in a video from the One Year Anniversary Event in London on December 13th 2014:


My Advertising Pays was launched in Dec 2013.
Tony's Official company title was 'My Advertising Pays Communications Executive'.

This tweet from Tonys Twitter feed states an ROI of 120%

Lynne Booth seems to be responsible for all of the My Advertising Pays finances as Tony states in this interview from 2015: 


On 9th September 2015, Michael Deese registered a company in England called RECODEIT LTD.

On 27th October 2015, he appointed Tony and Lynne Booth
as Directors and terminated his own Directorship.  

As of July 23rd 2017, 'My Advertising Pays' is still registered at Companies House as an Active company.

As of July 23rd 2017, 'RECODEIT' is still registered at Companies House as an Active company.

Thursday, 13 July 2017

Neobux - Paypal Close Account

Neobux are the latest 'business'  to have their Account terminated by Paypal. 

July 7th 2017

2017/07/07 at 14:33
Admin edited message on 2017/07/09 at 15:02

PayPal contacted us today to notify us they would be terminating our account.
I won't sugarcoat it, this news came as a total, shocking surprise.

To add insult to injury, they clarified there was nothing wrong on our end, but since they faced huge problems due to the practices of another known website, which theoretically belonged in the PTC vertical -even though they operated in a completely different way than our business model-, they were now forced to cancel every account belonging to a PTC website, regardless if there is a direct violation of their User Acceptance Policy or not.

No matter how unfair this might be, we have to remain pragmatic and ensure that the principles that made NeoBux what it is today remain unaffected.

To that end, we will adapt in order to make this transition as smooth as possible for our members. First of all, no user will lose a single penny and there will be NO "necessary" deductions of any kind. That is guaranteed.

In addition, any limitations regarding transactions through PayPal, as per our Terms of Service point 5.1, will stop in 4 weeks from now to ensure that no frustrations or long-term limitations are imposed on users who made purchases through PayPal.
Unfortunately, this is a necessary procedure until we can deal with the necessary bureaucracy in order to withdraw money from our terminated PayPal account. This simply means that before 4 weeks from now (we believe around the end of the month but don't quote me on that) every user that's bound by point 5.1 to PayPal purchases will be free to chose another payment processor. Unfortunately we cannot legally remove that restriction until then so please bear with us on that. As soon as we have the legal ok we'll remove it. This obviously won't affect those not bound to PayPal purchases.

All the PayPal purchases buttons have been already removed. The cashout button will redirect to this thread so that everyone sees it.

All the PayPal references from our Terms of Service, FAQ, etc, will be gradually removed as well.

The only positive note under the current conditions is that users have been shifting away from PayPal and started using other payment processors in the past months, which makes the situation not as difficult as it would have been in the past.

Finally, this setback will not compromise or affect the pillars upon which NeoBux has been built: Reliability, trust, innovation and transparency.
We will never become like the ones responsible for this outcome.

Unfortunately we have to pay for the mistakes of others but at least we'll make things right in the end because we're all a family and that's how it will always be.

Thank you.


Just to update on the situation:
PayPal finally sent us the official email which states their official reply on the account's closure:

This image has been resized. Click this bar to view the image in full size.

It doesn't say anything new: That the account is limited, we cannot send payment to our users and that it will be permanently closed in less than a week.
It does give us all we need to take the legal route against them since they're breaching their own agreements.

Just another screenshot taken from our PP account basically with the same info:


Interesting that Paypal use the phrase 'risk posed' which is the same reason they gave for the asset freeze at Traffic Monsoon.

Neobux also seem to have abandoned their Facebook page, the last post was 9th April  

...and their Twitter Feed last posted on March 24th 2017:

Watch this space...

Wednesday, 12 July 2017

My Paying Ads - Four Stages to Losing Your Money

*updated 16th July 2017

In May 2017,  Uday at My Paying Ads said he will refund everybodies seed money.
Sounds good, but has he done it yet?
This was his original post from May 18th:

MPA/MPCA Stages Going Forward as of 18th May 2017

Stage 1:
Refund all purchases made from payment processor from May 10th to May 15th 2017
back to members processors
Cancel all withdrawals up to and including 9th May 2017
Withdrawal amounts returned to member earning balances
Time frame: Proceeding now

Stage 2:
Open MPA and MPCA Traffic Exchange Sites
Time frame: Within 7 days

Stage 3:
Open the new product platforms, CC,
Local Business Directory Listing
Time frame: Within 14 days(CC)
to 8 weeks(Local Business Directory Listing)

Stage 4:
Return 'Seed Money' – Total Processor Purchases minus Total Withdrawals
Time frame: Begin within 3 months,
based on profit generated from the new products and partner programs
Members DO NOT to send in support tickets for Seed Money until further notice'

Fast forward today and has Uday refunded anybody? 
He says he's refunded half of all his members so far, but judging from the comments by his 4500 odd Facebook members, not one of them seems to have received anything.

The Official My Paying Ads Facebook page carries this notice:

10th July 2017
For all that keep asking: When do we start up Why no new update or When will Uday start paying out seed money .
1) : Traffic exchange is nearly complete and just testing to follow through then ready to launch. No need for a update until They are ready !
2) No need for a update when Uday has no news . All info is in the Update in the TOP of the Facebook group or on the website Admin message .
3) Return SEED Money : All purchases made before the 10th of may 2017 . NO NEED TO RAISE a TICKET .We are committed to generate the new revenue to refund the seed money balances to the members who have not withdrawn more than their seed money balance through our upcoming new advertising products and new partner programs. There is no fixed time frame for this as it depends on when we can generate the necessary targeted revenue to refund to the seed money balance to all eligible members.
4) Refunds : All purchases made from the 10th until the 15th of may 2017 Raise a ticket for a refund '.
Some of the comments in response:

'Where's the proof that half has been paid back? Just because you said it, doesn't make it so.'

'No one receive seed money. .... in my group'.

'I totally agree with what the people are saying, how do we know if half of the people really got their seed money back? '

'How long have i been surfing your site without any interest and i did not get seed money.'

'Lies lies lies. Got nothing'

Despite Udays promise to refund this 'seed money' it's now been confirmed that any money returned will just come from the NEW Ponzi that Uday is creating. The three month timeframe that gave Uday some wriggle room is always up, so lets see how he gets out of this one. I'll keep you posted...

July 16th 2017

Another update:

Update from #MPA and #MPCA Management (15th July 2017)

Dear All,

We hope you are all doing good. We have some significant progress in the development of scripts needed for our upcoming partner programs and hence we like to update you the progress at this junction.

[1] For one of the Advertising platforms working with bitcoin, the programming is near to completion. Currently, the testing of the features is going on and we will be able to launch it within one week time from now or before. Also, we will share the details of the program in 2-3 days time and will open the pre-registrations.

[2] As mentioned earlier, the bigger expectation for the revenue generation is from Business Directory and programmers have finished more than 80% of the basic coding needed. We are looking at getting the script ready for testing in 2-3 weeks time. For this also we will start sharing the details this week so that the interested affiliates can be recruited and started giving some training.

This script is entirely new as the off shelf scripts does not meet our needs. Hence, the programmers have been exclusively working on this script to make sure that they can deliver on what we need. We are satisfied with the progress so-far and it is going to be ready on-time.

[3] Turning MPA and MPCA into normal traffic exchanges was put on hold because the programmers wanted to work on the above two projects exclusively to make sure that they can develop the features that we have asked for. So, this item will be worked on sometime now.

[4] As updated earlier, Mr Shaf Memon will be leading the CC program and it is scheduled to be launched after the bitcoin based advertising platform. The plan and the launch details will be shared in the due course of time.

[5] Meanwhile, we like to open a new Facebook group only for the members who are waiting for the seed money balance so that any exclusive announcements to be made will be communicated through the same. There may be some details and announcements which we only want to communicate with the members who are waiting for seed money balance. Also, we will share the details of the revenue generated on daily basis through pinned post in this group. This is open to members who are waiting for seed money balance only and it is mandatory for all those members to join this group to get updates. If you do not have a Facebook account, you may want to open one temporary profile for this purpose and join the group. We will share the Facebook group link soon. Please gather the following information which is needed before joining this group:

[A] Member id number of MPA/MPCA:
[B] Total Payment Processor Purchase amount:
[C] Total Withdrawals:
[D] Seed Money balance: [B]-[C]

Please take help from your friends to open a FB profile, if needed.

The main MPA and MPCA Facebook group will continue to function as normal.

[6] Just a note on the delay for updates. I was severely traumatized by the developments at MPA/MPCA, negative comments, scammer accusations, threats and blackmails, rigorous push for seed money returns while we do not have any funds etc and hence could not attend to my daily activities. I have been building up the strength needed to move forward. Hence, there was a delay in the updates.

We have been functioning with utmost honesty since March 2015 and there have been no wrong doings. The program has stalled because of not enough sales and hence we arrived to the current situations. Unfortunately, some members have been interpreting it wrongly.

[7] We will do all necessary things to generate the revenue and return the seed money balance. There will be no doubts about it. But, it will take time. Please only remember one thing, the seed money may not come when you need but it will come for your use at an appropriate time after the funds will be generated.

Please kindly do not worry and panic about the bitcoin fluctuations. We will try to refund the seed money balance such that you will get the highest value of the btc vs USD conversion. We will generate the revenue until that point where you will get maximum benefit. We will provide more details in the due course of time.

As we do not have funds for any refunds now (the refunds will follow as we generate the new revenue), we may not be able to reply for the current requests that are coming in. We will continue to send the seed money balance as we generate the new revenue and the stats of the seed money balance returns will be given in the pinned post of the new FB group that is going to be opened soon.

More to follow in the next updates. Thanks for all your kind support and good wishes.

Uday N
#MPA and #MPCA Admin


To Recap:
Uday says he has no money to pay refunds, the new money will come from his NEW ponzi that presumably he wants old affiliates to join?
He also wants to open a NEW Facebook page where members can pretend to be someone else so they can get updates that people who AREN'T owed money, can't see.
How to join this special group? Put your membership number and all the details of the money owed, onto a PUBLIC Facebook page!
Why hasn't Uday got his affiliates financial records safely stored? Doesn't he own a computer? And why can't he repay the money as promised?  At least that question is easy to answer -  the lifespan of this ponzi is over, so he needs to start a NEW one. And what's the best way to start up a NEW Ponzi? Simple, ensure that lots of NEW members join to inject lots more cash so he can pay all the NEW members, and the old.
The  PONZI wash cycle goes around again, CASH in, RINSE out, SPIN BS, REPEAT...

Monday, 12 June 2017

VX Gateway Trustee Update

US District Court Case Dismissed

The case filed in the US District Court in Houston, Texas by MyAdvertisingPays (MAP) Limited (“MAP”) and Michael Deese against VX Gateway has been dismissed.

As we had predicted in an earlier Trustee Update, the Court ruled that disputes relating to the service agreement between VX Gateway Inc., in dissolution (“VX Gateway”) and MAP, must be heard in Panama; it specifically recognized Panama jurisdiction and the venue selection clause requiring such disputes to be decided by arbitration in Panama.

Many have been left wondering why MAP pursued a frivolous case in the US? Possibly it was because MAP had no credible or complete financial records and thus could not substantiate a claim to VX Gateway in the dissolution claims procedure; in this regard, it should be pointed out that although invited to do so, MAP never filed a claim in the dissolution. Let's state that again: MAP intentionally failed to file a claim (for itself or its members) in the dissolution proceeding for what it contended was $60 million; why?.

Similarly, lacking such financial records, MAP may not have been physically able to set forth a viable claim to an Arbitrator in Panama as required by the service agreement. Or perhaps, as we have said in an earlier Trustee Update, the case was filed by MAP in the US simply to buy time? Time to start a new company, or time to avoid facing authorities perhaps?

Our Legal Counsel in Panama feels that the burden of proof is higher in Panama for arbitration than in the US. In arbitration in Panama MAP will be required to support any claim with its own internal audited financial statements. They will not be able to rely on the financial records of third parties, which they have done so far.

The most recent “audit” put forth by MAP was not an audit made in the manner that will be required in such arbitration. Describing it as an audit in that sense of the term is deceptive and misleading. While it purported to be a “top-to-bottom study of the VX draws, and finally gross receipts to MAP”, it completely failed to take into account “withdraws and disbursements to MAP members, VX draws, and finally gross receipts to MAP”.

In fact, MAP’s auditor, Alpha Performance Verification Services, in its so-called “audit”, did nothing more than use Excel to summarize the financial statements of the processors. It excluded (omitted) any MAP financial transactions, processor fees or VX Gateway fees. Common sense and basic accounting tells us that, if the processor financial statements were incomplete or erroneous, the “audit” would likewise be incomplete or erroneous. This is commonly described as “garbage in ...garbage out”. Surely congratulations are in order for Alpha Performance Verification Services' fine work (not).

VX Gateway stands ready to participate in arbitration in Panama. We have had a complete and accurate audit conducted by CSB. Review of the CSB audit will leave no doubt that the lawsuit in Houston was specious and possibly intended by MAP or its legal counsel to mislead its members and the public.

The $60 million Was Never Stolen or Missing

While the case in the US was dismissed for improper venue and lack of the jurisdiction, the claims made in the case by MAP had no merits. The $60 million was never stolen. It is not even missing; it can be found in the CSB audit without difficulty.

MAP’s claim that these funds are “missing” or “stolen” is clearly erroneous. MAP admits it arrived at the $60 million dollar amount by simply deducting the dollar amount of “credit card sales” from “total sales”, that is, by using simple math as follows:

Total Sales
- Credit Card Sales
Missing Amount

However, as is obvious to anyone familiar with the facts, sales were made not just via credit card transactions but also by payments directly from VXLOOP Accounts that were funded directly by customers from their bank accounts. The simple correct math then is:

Total Sales
- Credit Card Sales, and
- VXLOOP Account Sales
Correct Amount zero. Nothing missing

Interestingly, as reflected in the CSB audit on file as part of the discovery provided by VX Gateway, the dollar amount of VXLOOP Account Sales, that is, the entry that is missing in MAP's math, almost exactly matches the amount MAP claims as “missing” or “stolen” (subject to fees and final audit).

Was this omission a simple mistake by MAP or deliberate deception? MAP was well aware of the substantial amount of sales paid by VXLOOP Account balances, as opposed to just the sales paid by card. This information was available in real time at the VX Gateway merchant back office to which MAP had 24/7 access prior to its breach of the contract. No company whose existence is based upon sales would simply ignore sales figures. MAP must be presumed to have made and kept copies of such records covering total sales. Put simply, the CSB Audit indicates that there is not and never was a missing $60 million.

Anyone can file a lawsuit in the USA; merely filing lawsuit it is not evidence of the legality of the plaintiff’s business, nor evidence of an illegal act, nor proof of the merits of the case filed. A lawsuit is simply one party's claim against another party; it is just a claim, nothing more. All it takes to file a lawsuit is to be able to pay the legal fees.

A Formal Complaint Against GPN Data Has Been Made to the Mauritius Financial Commission

Now that the distraction of the frivolous US lawsuit is behind us, we have submitted a formal complaint against GPN Data to the Mauritius Financial Commission.

VX Gateway's complaint can be summarized as follows:

GPN Data misrepresented itself as being a Mauritius licensed Payment Service Provider.
Bank One Mauritius, which provided card processing for GPN Data, participated in the deception.
GPN Data deliberately and systematically falsified financial statements, understating processing by USD $5,103,817.71 and EUR €307,479.89 and thereby underpaying VX Gateway.
GPN Data also falsified payment records, asserting payments to VX Gateway that had not actually been paid, a total of USD $941,347.57.
As set forth in the CSB audit, these intentional underpayments, combined with significant unjustified holdbacks by GPN Data, total USD $12,456,331.51 and EUR €1,272,465.69, as detailed in the Trustee Report.

As we have consistently stated, when and if money is received from GPN Data, VX Gateway will then pass through whatever share is then due to each of the respective entities or parties.

VX Gateway in dissolution prepared this statement based on the information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. The financial information included in this presentation is preliminary, unaudited and subject to revision upon completion of the Company's closing and audit processes, as well as independent third party audits. This presentation is not a legal opinion, but general discussion, not intended to deal with or disclose particulars of any specific issue, legal, business, or otherwise. All applicable statutes and regulations control.

UPDATE 16th June 2017 :
MIkes Reply:

'As many have seen, VX Gateway has taken the liberty of again posting an update on their website that (a) superficially analyzes both the Panamanian and US courts processes & procedures, (c) outright lies about any and all filings by VX Gateway, and (b) uses excessive and laughable hyperbole when addressing factual accusations put forth by MAP.

First and foremost, it is patently clear and should be made known, again, that the reason MAP elected to file and pursue a case in the US was because (a) MAP and VX’s relationship began on US soil, (b) VX was originally founded in the US and VX executives had personal residences in both Texas and Florida, and finally, (c) the contract in question is completely and utterly invalid under Panamanian law, meaning this jaunt down to Panama is an exercise in certifying the contracts invalidity and then returning to the US.

Secondly, VX’s third paragraph seems to imply that there exists an attorney in Panama that has read the contract between VX and MAP and considers the contract valid. This attorney apparently also believes that an internally audited financial statement is representative of a “higher burden of proof”. We here in the US, however, believe that external auditing by an objective third party provides a higher bar and that the burden of proof rests with the party that brings the claim. In Panama, however, there is – apparently – allowed internally audited financial statements, and the burden lies on the one against who the accusations are brought. On this point, VX spends – cumulatively – two paragraphs talking about what MAP should prepare in advent for the Panamanian mediation; to that I say: Thank you, we appreciate the heads up and have taken your suggestions into consideration. MAP will endeavor to retain an independent, highly qualified auditor to comb through any and all VX-related statements and documents in preparation for the Panamanian mediation.

In short, MAP stands ready to participate in arbitration in Panama and, unlike VX, will actually be making a filing of the matter.

In the interest of explaining my snarky sentence above, let me further elaborate: in multiple past “updates”, VX has asserted that it has sued everyone from GPN, to MAP, to even me personally. Not shockingly, VX has never, not once, made any such filing or complaint in any court or before any authoritative panel. Now, VX attempts to put forth some ridiculous summation of their filing against GPN, and Bank One Mauritius that is shockingly…. non-existent in the “Mauritius Financial Commission”. What is more, the “Mauritius Financial Commission” is not a real commission – there is actually no commission that exists by that name. If VX has an interest in filing a claim against any of the above entities, they should likely file it with a real commission – that does exist.

In closing, VX attempts to make factual conclusions regarding the US filing. We very much look forward to two separate occurrences, (a) that the Panamanian arbitration result in an absolute determination of the invalidity of the underlying contract, and (b) arguing the factual basis of the claim in the US. Additionally, we here at MAP would LOVE to see a copy of the supposed CSB audit – which, like VX’s many “filed” lawsuits, does not exist. As always, we look forward to seeing any of the above.

Please know that we will continue to fight for a successful outcome for everyone affected by their thievery.


'...Please know that we will continue to fight for a successful outcome for everyone affected by their thievery'


Sunday, 4 June 2017

Banners Broker - Open Letter from Receiver

May 26th 2017

An Open Letter to affiliates of Banners Broker International Limited (BBLl)

The receiver would like to share the following update with all affiliates of Banners Broker as it proceeds with its administration of the Banners Broker Receivership.
The criminal charges against both Christopher Smith and Rajiv Dixit have concluded. Both Smith and Dixit have entered into plea agreements. Pursuant to these agreements Smith was fined $1,435,000 and Dixit was fined $2,500,000. The first $50,000 must be paid by each within two years. The remainder must be paid within five years. If they do not pay their respective fines within five years there is a 'default hearing' and a presumptive 5 year prison sentence. The default hearing is a mechanism whereby Smith and Dixit are allowed to adduce evidence as to why they are unable to pay the balance of the fine.

The Receiver continues in its efforts to trace funds within the BBIL enterprise. These tracing efforts are worldwide and have garnered positive results to date. That having been said, our efforts have been impeded by the criminal proceedings which as noted above have now concluded. There is still much to be done and with the conclusion of the criminal charges our tracing efforts can be continued without any consideration being given to the criminal courts.
The ability to predict a date for conclusion is impaired by the depth and breadth of the BBIL enterprise. We will continue with our statutory mandate until such has been fully completed. Yours very truly,
MSI Spergel Inc.
solely in its capacity as Court-Appointed 
Receiver and Manager of banners Broker International Ltd
Philip H. Gennis J.D, CIRP,LIT
Senior Principal

Thursday, 1 June 2017

Triple Threat 3 Reloaded Scam - Payza Problems Already

It looks like Payza have Terms and Conditions that Fobbs over at TT3-Reloaded, isn't too keen on, so he's stopped using them. But when you only have two hundred members who seem to be taking out way more than they're putting in, it's hardly a surprise that things are stalling already.

From his Facebook page:

'Fobbs Jefé
28 May at 17:45

Good day team. This coming week we will be phasing Payza out due to their strict rules of holding a percentage of the funds. We cannot get around these rules and as such we have a slight delay on payouts for Payza customers.

We are currently I all other processors. Bitcoin, Stp, and Payeer will remain as well, we will seek other payment options to add to replace Payza. We will let you all know the day we will transfer the payza balances to a new processor so you all can receive your withdrawals.

Also. This is the week the marketplace will be added to allow members to sell real world products. We will have a huge catalog of items you all can sell for good profits. This will increase our revenue and sustain payouts for the future. As well it will give us the credibility of being more then just a Rev share.

Stay patient. It has barely been two weeks. Some people want the world in a day and never even get to see the beach! We aren't going anywhere, so please keep any doubts to yourself and let things play out. You'll see! Life is easy, if you make it that way.'

Unfortunately for Fobbs through, his members have got wise to him:

From todays Facebook page:

'Good Morning All,

We will be transferring payza packs or paying all payza payments out in the coming weeks. BTC should be taken care of as well in the coming weeks, but what we need right now is to tap in to the member base. We have over 1k members but only 200 participating so it's time to start adding on to this. What we have been working on is getting the marketplace fully active and ready for you all, so that we can create that outside source of traffic and income needed along with commissions for selling items. If you are using payeer or stp continue to do what you are doing meaning advertise to others about TT3R and re deposit your fund to build, while we complete the add on to the platform.

We have not even touch the surface for the member base we should have and we are looking for each and everyone of you to do just the little things we have asked. Although others outside of our program want it to fail, that is not our destiny. We have already paid out almost $100,000 and it should be more at this point! What does this mean... we could have paid it so much kore but you must have the member base that we know is out there. So let's hit the ground running because it's still early and plenty of milestones to achieve.

Ps Fobbs Jefé has been blocked from posting or messaging on Facebook because of testing of the shopify for the marketplace. His account will be unlocked on Saturday.'

And some of the replies:

Redzlord Diadid Can you please advise when are the Payza members will get paid? We are waiting for 5 days now while others are getting paid.
30 May at 14:35

Syed Kamran Waiting for withdraw, its pending since 25th may and because of that i can't purchase adpacksas i don't have any further funds to fund my account :/
30 May at 19:40

Ãmy Scicluna Ğlynn We need update regarding payza payments. I would like to continue funding my account and have already created payeer account but need to know what is going to happen to my current balance as it wont let me withdraw it...not even with payeer as i have a pending payza withdrawal
Yesterday at 18:13

Hector Castanon same here pending payza
 22 hrs

Julian Mendez BTC pending payment for 10 days
14 hrs

Zbigniew Kowalczyk A wait for my BTC withdraw from 2017.05.23.
Pleas do something with this
11 hrs · Edited

Hector Castanon is 100% scammmm

 7 hrs

Redzlord Diadid Time is up TT3R. I guess we have given you enough time to process our withdrawal requests but we haven't receive until now. Dear Payza members you know what to do. We are still under 45 days.
4 hrs

Walker Kyle fuck you'

Fobbs says he's paid out $100,000 to just 200 members in barely a month of opening. At this rate he'll be the only Ponzi owner in history to make a LOSS!

3rd August 2017

Oops...where have they gone? I can guess!