No Sissy Business!Another fraud complaint against high-risk payment processor T1 Payments!

High-risk payment processor T1 Payments received fraud complaint
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Wow! That was a quick response from our whistleblowers. Shortly after the update on the court cases surrounding former partners Payvision and T1 Payments, we received information that another fraud lawsuit had been filed in the U.S. against T1 Payments and Donald Kasdon. The high-risk merchant First Capital Venture Co. d/b/a Diamond CBD, a wholly-owned subsidiary of PotNetwork Holdings, Inc., announced that it had brought a complaint against T1 Payments LLC, its CEO Donald Kasdon, and others for fraud, theft, and unjust enrichment.

On May 14, 2021, the operator of the CBD trading platform and thus high-risk merchant First Capital Venture Co. (Plaintiff) d/b/a Diamond CBD (www.diamondcbd.com) filed an 8 count complaint against T1 Payments LLC, its principal, Donald Kasdon, and others (the “Defendants”) in the District Court in Las Vegas, Clark County, Nevada, case number A-21-834626-B, for violations of federal and state law including fraud, conversion, theft, breach of contract, breach of implied covenant of good faith and fair dealing, unjust enrichment and declaratory relief (the “Complaint”).

The complaint sounds like some others T1 Payments received from other clients. The Plaintiff maintains that the T1 Payments, among other issues, have wrongfully retained reserve funds belonging to the Plaintiff and failed to properly remit those funds to the Plaintiff under the terms and conditions of the written agreement between them.

Before filing the complaint, First Capital Venture Co. had delivered a written demand for the return of $649,311.73 wrongfully held by T1 Payments. Although T1 Payments confirmed the holding of funds, they did not return them. Thus, First Capital Venture Co brought the complaint. Its parent company PotNetwork Holdings, Inc. included the complaint in its SEC filings.

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