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December 4, 2023

Merchant Alert: Please Be Aware Of The Risk Of Termination Fees And Its Implications!

In the complex world of high-risk payment processing, merchants face the murky waters of termination fees. Recent cases, such as T1 Payments LLC v. New U Life Corp., have shed light on a concerning trend where some high-risk payment processors employ termination fees to unjustly profit at the expense of merchants. We strongly caution merchants against accepting termination fees, as this is a motivation for payment processors to collect them.

November 19, 2023

Finally: The Fraudulent High-Risk Payment Processor iPayTotal Is Gone With The Merchant Funds!

On November 19, 2023, the probably last filings for the bankrupt iPayTotal Ltd were made at the UK Companies House. The liquidator Arvindar Jit Singh reported the end of the liquidation. As one of the many high-risk payment processors of the Indian Ruchi Rathor, the insolvency deprived merchants of many millions. The liquidator reports "only" around £1.9 million unsecured claims that were not paid. But insiders say it was much more. The company is dissolved!

November 1, 2023

The High-Risk Payment Saga: Donald Kasdon, T1 Payments, and Pixxles in the Spotlight!

Miami's very own Donald Kasdon is a notable figure in the global high-risk payment industry, a tough space to be in; it often treads a thin line between legal operations and murky, illicit undertakings. T1 Payments Group was a high-risk payment scheme operated by the Kasdon family until its bankruptcy in early 2023. The FCA-regulated EMI, founded and run by Kasdon's fiance, Amber Fairchild, seems to burn a lot of money without any recognizable business.

October 29, 2023

Interpretation and Summary of Court Order in the Bankruptcy Proceedings Against T1 Payments

U.S. high-risk payment processor T1 Payments was once the partner for ING's now-closed Payvision subsidiary. T1 Payments faced numerous lawsuits from merchants alleging fraud and fled into bankruptcy in January 2023. The payment processor was run by Donald Kasdon, his mother Debra Karen King aka Debra Karen Kason and his fiance Amber Fairchild. The later founded the FCA-regulated e-Money Institution Pixxles Ltd.

February 8, 2023

Request 4 Information: Chapter 7 Bankruptcy Of Payvision Partner T1 Payments!

Donald Kasdon's U.S. high-risk payment processor T1 Payments has received several lawsuits in recent years from former merchants claiming that T1 Payments failed to pay them their money. Apparently, Donald Kasdon is trying to escape these many lawsuits via a Chapter 7 Bankruptcy deposition. T1 Payments was the U.S. partner of ING subsidiary Payvision, which is also desperately trying to settle lawsuits from merchants in the U.S. We would like to know more.

November 27, 2022

Merchant Alarm: FCA-Regulated Pixxles Downgraded For High Loss And Cash-Burn Rate

Pixxles is a spin-off of the notorious US high-risk payment processor T1 Payments. FCA-regulated since June 2021, the e-money institution is led by former T1 Payments executive Amber Fairchild, once the fiancée of T1 Payments founder and CEO Donald Kasdon. PayRate42 downgraded Pixxles because of its financial performance. The company's 2021 financials show a heavy operating loss and an substantial cash burn rate, which had to be covered by issuing new shares.

October 10, 2022

How T1 Payments And Payvision Engineered Their U.S. High-Risk Business!

T1 Payments LLC was a VISA- and Mastercard-registered Payment Facilitator (PAYFAC) until 2017 in the U.S. and had a contract with WorldPay (then dba Vantiv). This industry-leading payment processor processed more than 20 billion transactions per year at the time. In March 2017, Vantiv filed a fraud complaint in the U.S. against T1 Payments. The latter subsequently had to process its U.S. customers through Payvision up to at least the summer of 2021. However, the Dutch payment processor was not authorized to operate in the U.S. Thus, they engineered a special solution.

October 6, 2022

The Alleged U.S. High-Risk Payment Fraud Scheme Of T1 Payments And ING Subsidiary Payvision!

ING subsidiary Payvision was a super-aggressive high-risk payment processor that did not shy away from facilitating cybercrime activities until it was shut down in October 2021. Founded by Rudolf Booker in Amsterdam, the FinTech has worked with Donald Kasdon's high-risk processor, T1 Payments, in the United States. Payvision and T1 Payments worked out a system that allowed Payvision to hide behind Donald Kasdon's group of companies. In the U.S., former customers (merchants) brought fraud lawsuits. Let's unfold the story!

September 26, 2022

U.S. Court Cases: Payvision Director Andre Valkenburg Under Legal Fire!

The Dutch Andre Valkenburg became Payvision CEO as of 1.5.2020 after the founders and directors Rudolf Booker, Gijs van de Weegh, and Cheng Liem Chi resigned after the company was acquired by ING in 2018. According to (checked) information available to FinTelegram, he is still the managing director of Payvision, which ING ordered to go out of business. According to some US lawsuits, he is also said to have continued Payvision's high-risk business during his CEO tenure.

June 6, 2022

FCA-Regulated Pixxles Appointed Salma Kamaly As Director!

The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the US-based T1 Payments group. The former T1 Payments manager and partner of its founder Donald Kasdon, Amber Fairchild, established the company in October 2018 and is its beneficial owner. Pixxles appointed Salma Kamaly as an additional director a few days ago, PayCom42 reported. Kamaly is purportedly a compliance expert who also serves as the sole director of JS Compliance Consultants Limited (JSCC).

January 31, 2022

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

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.

January 31, 2022

Court cases continue against high-risk payment processors Payvision, T1 Payments, and Pixxles!

It's court season again for Payvision and its former U.S. partner T1 Payments. While a fraud complaining has been brought in the U.S. by a former client against the T1 Payments group and its alleged successor company, the FCA-regulated e-Money Institution Pixxles Ltd, for alleged illegal activities, the European Fund Recovery Initiative (EFRI) has filed a lawsuit against Payvision for its scam-facilitating activities in Austria. T1 Payments is trying to dodge the U.S. lawsuit by preventing being served in the UK. Here's an update.

Gemini Trust Slapped with $5 Million Penalty for Misleading CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has issued a $5 million fine to Gemini Trust Company LLC for making false or misleading statements during a 2017 bitcoin futures contract certification process. The order stems from the CFTC’s July 2, 2022, complaint against Gemini Trust. The case highlights the importance of truthfulness in regulatory disclosures.

Crypto Fraud Unveiled: Mosaic Exchange and CEO Hit with $1.1M Penalty for Crypto Scheme

The U.S. Commodity Futures Trading Commission (CFTC) has secured a $1.1M judgment against Mosaic Exchange Ltd. and its CEO, Sean Michael, for running a fraudulent digital asset scheme that targeted 18 victims globally. The judgment exposes their misuse of funds, false profit claims, and deceptive practices. The orders stem from the CFTC’s three-count fraud complaint filed Sept. 26, 2023.

Attention: The MoonPay Acquisition of Helio May Trigger a Merger and Take-Over Wave in the Crypto Space.

MoonPay, a leading U.S. crypto payments platform focused on high-risk sectors, has acquired Helio, a Solana-based blockchain payment processor, for $175 million, marking the start of what could be a series of strategic mergers in the digital asset space. This acquisition, MoonPay's largest to date, aims to enhance its payment infrastructure and expand its services in the rapidly evolving cryptocurrency payments sector.

Investor Briefing: The Bear in Crypto Town – Potential Crypto Sector Crash Analysis

The crypto market has entered a period of heightened volatility and uncertainty in recent weeks. Despite a brief recovery at the beginning of this week, the overall trend remains bearish, with Bitcoin and other major cryptocurrencies experiencing significant price fluctuations. As the Fed has been warned of a looming crisis, bitcoin and crypto traders are nervously watching for whether the combined crypto market will drop below the key $3.2 trillion level.

The Clock is Ticking for TikTok: Can the App Dodge a U.S. Ban?

The US is edging closer to a definitive ban on TikTok, the Chinese-owned social media app that has dominated global digital culture. Despite a surprising show of goodwill from incoming President Donald Trump, the odds on prediction markets like Polymarket suggest a 67% likelihood of a ban before May 2025. This looming threat raises urgent questions.