Tag: BoomBill

Edward Tabus is the CEO of Mad Money Casino, which operates through MMC Global B.V. with a license from Curacao. The payment agent is MMC Global Holdings Limited in Cyprus. And with the payments, the Mad Money Casino has a problem. In particular with payments that should come from its payment processor Paypound. On LinkedIn, Edward Tabus has described in detail how Paypound withholds payments. FinTelegram has already warned about Paypound a few times.

The vanished BoomBill was the trading name of the Serbian Boom Financial Management DOO, registered in Belgrade. It was a merchant of record or master merchant of Xcepts and allegedly used a fake individual and a fake company to receive an account from Xcepts. Boom had many sub-merchants, one of which was Paypound. According to new information, Serbian Bozidar Vukmanovic is a frontman for the unknown economic owner who calls himself Sebastian and is reportedly in the United Arab Emirates.

We reported yesterday on a blog post by Paypound accusing BoomBill and their partner Xcepts with Paul Schroeder of withholding $2.5 million in funds that Paypound could not pay out to its merchants. After we published our report, the battle evolved. In a new article on LinkedIn, Paypound elaborated the story further but claimed that the merchants were paid out despite the alleged theft. Already on June 4, 2022, Paul Schroeder of Xcerpts issued a press release, calling Paypound scammers and thieves.

Unfortunately, it is an indisputable fact that payment processors have many black sheep and scammers. Especially in the area of high-risk payment processors, many players rip off their merchants. Or support scammers to rip off victims. These bad payment processors have included collapsed iPayTotal or the related Paypound or NeoBanQ. Paypound is currently waging war against Serbian BoomBill, Paul Schroeder, and related entities. Once again, it's about millions of merchants gone missing. Amen!

One of the biggest challenges for high-risk merchants is the efficient handling of their payment processes. A vast global segment of high-risk payment processors is focused on these merchants. They provide bank accounts and access to credit card networks for relatively high commissions. However, often merchants face trouble getting their money. We have received warnings that the Serbian high-risk payment processor Boom-Bill, a/k/a BoomBill, would not pay out its merchants.