09-10-2010, 12:54 AM
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Purveyor, Fine Asian Porn
Industry Role:
Join Date: Jul 2004
Location: San Francisco Bay Area
Posts: 38,323
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500 Offshore Accounts...
Quote:
Originally Posted by baddog
Why? All he did is pick what he wanted out of various boards and write an essay. There is nothing new there that I noticed.
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Some of the article was new to me:
Quote:
In the mid-1990s, SAM Group, a health financing company which Mallick founded, filed for bankruptcy. A related lawsuit revealed a checkered history of personal tax liens, judgements and lawsuits involving Mallick.
Next, he helped found PayCom, one of the earliest porn-billing systems and a pioneer in online-purchasing technology. Several years ago, the company clashed in court with MasterCard and lost in a case involving the billing of porn sites.
He launched ePassporte after splitting from PayCom. But his new company drew the attention of the U.S. attorney for Manhattan during a sweeping investigation of internet gambling.
After the company was advised of the probe, two years ago ePassporte ended business with poker sites. ?Although we do not believe we have done anything illegal, we do not wish to be associated with anything that might be considered illegal by the United States government,? ePassporte wrote to one off-shore operator of one site.
Finally, last year, the U.S. Tax Court ordered him to pay more than $280,000 in taxes, plus almost $40,000 in penalties, after concluding he under-reported income in 2005 by hundreds of thousands of dollars.
Now his ePassporte customers are anxious to learn the naked truth from the middle man about their cash.
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If that sounds like a good person to trust your money with, have at it...  
ADG |
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