Zeek Rewards Scam UpDate: Receiver caught up in tangled Payza lawsuit

This one’s a bit messy, so bear with me. Following on from our February article “How Payza & friends are screwing Zeek Rewards investors“, efforts to recover funds from Zeek Reward’s shady banking operations continue. Our players in this story are: Payza – a payment processor synonymous with the MLM underbelly Payment World – a Hong [Continue reading…] Source: Zeek Receiver caught up in tangled Payza lawsuit

The Receiver thus not only flouted the fundamental requirements of due process, but also basic standards of international comity.

Victoriabank responded by indicating that Victoriabank could not comply with the 2012
Freeze Order because the order had never been rendered enforceable under the laws of Moldova through a court delegation.

Further, Victoriabank pointed out that the order made no reference to Victoriabank’s client (Payment World Moldova) and that the Receivership Defendant (RVG) identified in the 2012 Freeze Order was not and has never been a Victoriabank client.

In or about July 2014, while in possession of approximately $20,733,298.73 of funds belonging to Payza and its customers, Payment World, without any warning or notice, absconded with the money.

in or about August 2012, one of Payza’s customers for its transactions, Rex Ventures, was the subect of a Securities and Exchange Commission enforcement acton and ultimately placed into a receivership.

As a result of the Receivership, funds held on behalf of Payza in Payment World’s Acquiring Bank, Victoria Bank were frozen.

Read the full article and join in the discussion over at BehindMLM.