Just a note, I do know people who have signed others up through IM. It usually works out pretty well. Talking to someone on IM isn't actually spam. Maybe he has a transcript of how the transaction takes place.
About 8 million emails. Yes if he spammed that would be a good reason not to pay him. However, why would an email chargeback more than a non email ad? I'm just curious. People are always griping about email ruining the biz etc. I don't get it. I would rather get 100 emails than the popups I go through on most porn sites with spyware, cookies, and the usual.
How much is he owed? If he is serious about suing it could cost you more in the long run. Is it in your TOS that you can cancel an account at your discretion?
I'm not saying he didn't try to scam you. But I'm sure you would have emails from spam complaints if he went that route. He might be trading sign ups with friends however. How low of traffic are you talking about? I convert extremely well and I am sure I have thrown a few flags at sponsors but they have never withheld a check.
Good luck.
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