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Originally Posted by stocktrader23
This is what all of these services do, they pool the funds into one bank account that draws interest for them. In the USA I am almost 100% positive that they are required to keep the funds intact 100% to be legal. Considering how epassporte is setup I have no idea if it is true for them. My argument was with the statement that "omg, they have to steal your money to stay in business!" That is b/s and it would make the whole thing a ponzi scheme which is explicitly illegal.
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You are right, but what I don't see mentioned here is that it appears that wallet funds were kept in a bank setup specifically for ePassporte and controlled by Chris Mallick. The bank holding ePassporte's account(s) and money could make loans based on those deposits.