Quote:
Originally Posted by SleazyBear
After reading a lot of threads Mallick might be doing us a favor in a way. No I am not giving the guy props. If he funded all the crap that I have been reading about and its all been a big loss. If it was either shut down Epassporte Visa or take the loss and loose everything. So he shuts down Epassporte Visa he does this when most sponsors have either loaded or paid there people. This locks in millions into an interest paying bank. Every day more interest grows on this acount. When he makes back the interest that is needed to keep Epassport sovent, then he will release the funds.
Yes his company Epassport takes a huge hit, but he will still have it. How long will things be tied up, well until he gets enough intrest to pay off his debts on bad projects.
So what happens now, until the right amount of intrest is made on the money, it will be stuck. I figure when the cards are turned back on it will come out that he worked with visa and got the cards turned back on. He then becomes a hero to everyone, when in fact it was him who shut the cards off.
I may be wrong but this is how I see it.
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I have money in certificates . At the moment, I get about 1.35 % of interest.
If I want to borrow money from the bank, I will pay for a mortgage ( secured ) 4 %. For a film ... try to guess.
So how long will he need to cover the interest he needs to pay .... ?