Unknown to us at the time, we were introduced to AlertPay by a career criminal - we have since found out. This introduction to AlertPay has placed our shareholders funds at the centre of a web of sophisticated and successful criminals, that have taken Internet based crime to a whole new level in manipulating, the law and the courts, corporate structures and the Prosecutors and Police.
Our Shareholders started transferring funds to our account with AlertPay in the Summer of 2010, when our account was converted to a Business account. Initially we were subjected to a whole lot of due diligence (DD) which resulted it a substantial sum of money having accumulating in the account once this DD process was exhausted.
We complained to the guy who introduced us to AlertPay and he enquired what sum of money we were talking about. We told him the balance as at that moment in time $1.289 Million US, one to one, no one else knew and seconds later the balance had changed – increased.
After much badgering and bringing in our US Lawyer in to bat for us, we managed to get some money released about $500,000.00 US until we were told that our account was frozen by their compliance department due to the fact that they had to respect a judgement from a Swedish Court for, wait for it, $1.289 Million US.
At this stage our account balance was just shy of $1M US following our withdrawals. What we can learn from this is how AlertPay uses it’s compliance department and all the responsibilities they ASSUME to freeze your money at the drop of a hat, if they need working capital to expand their operation.
If you are reading this thread you will be aware that AlertPay’s name stinks and hence their need to reverse into a UK dormant shell company who had never traded but were billed by AlertPay as “ Founded in 2005, MH Pillars has been a prominent player in the UK market proposing and providing white label prepaid card solutions for customers worldwide. The MH Pillars team offers extensive payment services expertise that encompasses design, development and deployment of individual payment services “ Bull Shit.
The Pillars team of existing Directors all resigned at the reverse takeover and the CEO brought in to front the operation and conceal the vested interests of the Patel brothers, lasted a couple of months. Perhaps he could not stand the smell of corruption, within the operation and made a wise move to bail out early and protect his reputation, which up to that point was very good.
For heavens sake what part of ‘Dormant / Non-Trading’ did the PR company employed by AlertPay not understand – LIES – a commodity that Firoz Patel deals in all the time. Talk about creative writing.
Having demonstrated our fortitude to have the Swedish Judgment reversed, even though it had absolutely no authority in Canada, AlertPay change their tactic. They told the court that they were not holding the balance of our account, watch out for this, it was being held by a company in Cyprus and that they would not release it, because of the Swedish Judgement. Same game but a new playing field.
Except that the Company in Cyprus was owned by Patel so it looked very smelly indeed when he was saying to himself send me back the money the court needs me to have it and his alter ego says no. Furthermore Patel then argues that the Cyprus Company will not let him have it back and he cannot make them.
To counter this financial liability they are faced with, they are now endeavouring to have the Cyprus Company struck off with our $1M US disappearing in the fallout. I don’t think so.
Ok we know that the size of our scenario is somewhat unusual, one would hope, but during our fight we have learned of other merchants in the same position of having their funds frozen and even their customers having their funds frozen, for the period that the credit card can reverse the payment. OK so why is that not made abundantly clear at the outset, not : “ Receive Money Manage payments for your business or sell your products/services online with ease and security. Receive your money instantly! “ (After we have frozen it for a statutory 6 months if they need working capital– do they tell you that no.)
What is the extent of this abuse handed out by AlertPay/ MH Pillars/ Payza.com.
Let us hear from you if you have made a payment and it has not arrived at the Merchant or if your funds have just been frozen. They should not be allowed to get away with these thefts as they often become.
They have to be stopped.
What is your experience?