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We have recently found at soltechX broker scam PayStudio as a payment processor for credit and debit card deposits. The operator is Synopsis Success LDA in Portugal with an address where the high-risk payment processor CryptoMatix by Ruchi Rathor is located. Currently, Rathor and her British-Indian gang apparently run their payment processors through companies in Portugal. Chestnut Investments Lda, the parent company behind the Danish OpenUp is also based in Portugal.
|Related schemes||OpenUp, Payomatix, CryptoMatix, |
iPayTotal, PayPound, Kryptova,
|Business activity||High-risk payment processor|
|Legal entity||SYNOPSIS SUCCESS LDA|
|Contact||+44 0 (800) 887 0291|
Rua Julio Dinis, 561, 4th, Room 402B,
Lxcbusiness Center 4050-460 Porto
|Related individuals||Ruchi Rathor, iPayTotal co-founder (LinkedIn)|
|PayRate42 rating||Black (PayStudio profile here)|
PayStudio presents itself as a payment processor and white-label payment gateway provider on its website. This is iPayTotal‘s business model.
Whistleblowers have informed us that PayStudio is indeed part of Ruchi Rathor‘s vast global network of high-risk payment processors. Rathor was also one of the founders and mastermind behind the collapsed iPayTotal, which collapsed and disappeared with millions of its merchants.
Over the last couple of years, whistleblowers have confirmed to us time and again that Rathor and her team are using fake profiles on LinkedIn to present themselves as reputable. She uses her LinkedIn profile to present herself as a founder and investor and a powerful woman in the payment segment. In doing so, she constantly changes her LinkedIn profile.
A LinkedIn profile screenshot from February 2022 (left) shows that she presented herself as the founder of iPayTotal, Payomatix, and CryptoMatix. She has since removed iPayTotal and CryptoMatix from her LinkedIn profile.
We know it is difficult to find payment processors for a high-risk merchant. Therefore, in desperation, they often take high-risk payment processors that are known to rip off merchants. In many cases, these merchants also cannot sue because of the nature of their business. This is exploited by people like Ruchi Rathor and their payment processors. We can only warn merchants not to work with these payment processors.
If you have any information about PayStudio, Ruchi Rathor, and their projects, please share it with us through our whistleblower system, Whistle42.