BBB Reliability Report - StormPay

Customer Service Contact

Mr. Steve Girsky is the complaint contact person for this company and should be contacted at (931) 647-8750 before filing a complaint with the BBB.

Customer Experience

BBB Interim Report

BBB Definition: Report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB membership information, and Bureau complaint activity over the previous three years. Also reports may include any known government actions, advertising issues BBB Definition: advertising issues - Claims alleging print or electronic media advertised claims or practices misrepresent the service or product offer. or other information that results from activity conducted by the BBB.

Dated February 16, 2006

From January 1 through February 16, 2006, the Better Business Bureau has received 812 complaints from consumer stating that the company has frozen their online accounts and will not make available the funds in those accounts. While the company has been notified of each complaint filed with BBB, it has not answered or resolved

BBB Definition: resolved - The company resolved BBB Definition: resolved - The company resolved the complaint issues. the complaint issues.

them.

On February 16, 2006, BBB discontinued processing complaints with the company due to the company's failure to respond to complaint volume.

Customers with complaints may continue to file them with BBB. BBB will forward all complaints to the appropriate regulatory authority.

This company first came to the attention of BBB by means of consumer inquiry in September 2002 and was operated by John R. McConnell, Jr. From September 2002 through May 2005, the company received 44 customer complaints concerning the company's failure to allow customers to withdraw available funds, poor customer service and failure to provide laptop computers per the company's computer matrix program. These complaints were closed by BBB as unanswered and unresolved

BBB Definition: unresolved - The company failed to resolve the complaint issues.

.

On May 13, 2005, BBB received a telephone call from Steve Girksy indicating that he was the new CEO and customer contact. At that time, Steve Girsky requested all unanswered and unresolved

BBB Definition: unresolved - The company failed to resolve the complaint issues.

complaints. Girsky provided the company's position on the previous complaints. 17 of the 44 complaints were closed as unresolved

BBB Definition: unresolved - The company failed to resolve the complaint issues.

.

From May 2005 through December 2005, the company received 18 complaints concerning the company's failure to inform and follow up with its customers when it suspends accounts, failure to release funds in a timely manner and failure resolve complaints directly with its customers. The company had responded to these issues by providing an explanation, releasing funds or by making refunds.

John R. McConnell, Jr. is also identified in BBB files as the registered agent of NetIBA on which BBB maintains a separate file which is available at your request.

On August 7, 2003, the Tennessee Securities Division of the Department of Commerce & Insurance issued an "Order to Cease and Desist" (file number 03-020) with TymGlobal, Inc., StormPay, Inc. and John R. McConnell, Jr.

The order states that TymGlobal and StormPay are under common ownership and/or control. TymGlobal operates an internet website which is registered to StormPay. On the internet website, respondents are operating a pyramid and/or Ponzi scheme promising large returns on investments for participating in the scheme. The order further states that TymGlobal has not registered any securities offerings with the Division pursuant to Tennessee Securities Act of 1980. Nor has the company registered with the Division as a broker-dealer, agent of a broker-dealer or investment adviser. Also, the respondent StormPay has not registered any securities offerings with the Division nor has the company registered with the Division as a broker-dealer, agent of a broker-dealer, or investment adviser. John R. McConnell, Jr. has not registered with the Division as a broker-dealer, an agent of a broker-dealer or as an investment adviser.

Potential investors were given the opportunity to invest in both partnership shares as TymGlobal as well as to participate in various Ponzi schemes. Respondents promised a high return. The offering of participation in the schemes sold by the respondents is an investment contract and thus, a security under the act.

The Division ordered the respondents TymGlobal, StormPay and John R. McConnell, Jr to cease and desist the conduct of a broker-dealer in the state of Tennessee until such time as it effectively registers with the Division. The order did not intend to prohibit lawful conduct of the respondents.

For additional information concerning this order, please contact Daphne Smith, Assistant Commissioner for Securities, State of Tennessee, Department of Commerce and Insurance, Suite 680, 500 James Robertson Pky, Nashville, TN 37243.

http://data.middletennessee.bbb.org/commonreport.html?bid=2146166