Consumer Protection
Since I still see no indication that authorities on any level are investing the activities of StormPay, et al ... this morning I sent the following letter to my Oregon Congressman, Greg Walden, and to both Tennessee Senators, Lamar Alexander and William H. Frist:
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Without ever once providing evidence of a court order to do so, StormPay.com based in Clarksville, Tennessee, has unilaterally declared whole classes of online businesses illegal, and thus frozen the accounts of those businesses. It is my understanding that StormPay is not legally registered to do business in the State of Tennessee, and in fact, the owners of StormPay.com are under an order to cease and desist prior illegal activities regarding TymGlobal.com
Worse, StormPay zeroed out the accounts of many of its subscribers - even those who were not associated with targetted business classes. Subscribers' earnings from targetted businesses were sent back to the business' frozen account(s). Still worse, some subscriber's own funds, deposited to StormPay, which were never associated in any way with targetted businesses were also sent to the frozen accounts of targetted business in cases where the subscriber may have had a prior association with a targetted business.
No one other than StormPay currently has access to those funds.
Worst of all is that some funds belonging to StormPay's non-US subscribers are not accounted for at all - no record of those funds having been "charged back" or having been sent anywhere - no accounting for those funds at all, just an account balance of zero.
StormPay actions are now affecting many who are not nor ever were StormPay subscribers and who have no association with targetted businesses.
An associated business, NetIBA, claims to be a "third-party" verification service. A number of businesses "certified" by NetIBA have disappeared, taking massive funds with them.
I join those who demand all of StormPay, Inc activities and affairs, along with those of the associated business NetIBA, also based in Clarksville, Tennessee, both registered to Mr. John McConnell, be immediately placed in receivership to prevent any further theft from unsuspecting victims. Thank you.
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Without ever once providing evidence of a court order to do so, StormPay.com based in Clarksville, Tennessee, has unilaterally declared whole classes of online businesses illegal, and thus frozen the accounts of those businesses. It is my understanding that StormPay is not legally registered to do business in the State of Tennessee, and in fact, the owners of StormPay.com are under an order to cease and desist prior illegal activities regarding TymGlobal.com
Worse, StormPay zeroed out the accounts of many of its subscribers - even those who were not associated with targetted business classes. Subscribers' earnings from targetted businesses were sent back to the business' frozen account(s). Still worse, some subscriber's own funds, deposited to StormPay, which were never associated in any way with targetted businesses were also sent to the frozen accounts of targetted business in cases where the subscriber may have had a prior association with a targetted business.
No one other than StormPay currently has access to those funds.
Worst of all is that some funds belonging to StormPay's non-US subscribers are not accounted for at all - no record of those funds having been "charged back" or having been sent anywhere - no accounting for those funds at all, just an account balance of zero.
StormPay actions are now affecting many who are not nor ever were StormPay subscribers and who have no association with targetted businesses.
An associated business, NetIBA, claims to be a "third-party" verification service. A number of businesses "certified" by NetIBA have disappeared, taking massive funds with them.
I join those who demand all of StormPay, Inc activities and affairs, along with those of the associated business NetIBA, also based in Clarksville, Tennessee, both registered to Mr. John McConnell, be immediately placed in receivership to prevent any further theft from unsuspecting victims. Thank you.
posted by JamesB at 9:00 AM
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