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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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Karma Served Here
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We at ePassporte are as distressed as you, our valued cardholders, over an action that we did not see coming and as of today we still have received no good basis for it.
First, be assured that your funds are fully safe and protected. You are owed that and it will be fulfilled. The funds are secure.
Second, ePassporte is working with the St. Kitts bank to work out how all payments will be made and when. The details are complicated, because there are funds in motion and where and when they settle requires us to all be careful that we fully and properly account for all those funds and their rightful owner. This issue stems from our processing and reporting ability through the Visa system and their processor.
Third, ePassporte's most important asset has always been our account holder's. We are not going to undermine that asset by treating cardholders in any manner other than the best we can.
Most of us have had the unfortunate experience of dealing with banks and card associations that simply ?cut us off? and did not pay us. Those actions were limited to card acquiring (merchant accounts), not card issuing, which is what we do. We can all take some comfort in the fact that this situation is not anything like the acquiring side of the business.
We all fully understand that communication to our cardholders is critical. However, it does not help any of us if we are constantly updating you on the basis of the calls that take place almost hourly. It seems to us that giving you facts, based on agreements we are working on is the best form of communication. This is what we will be doing. When we know something, that is a fact, we will report it, quickly. Our staff is all working diligently to resolve these issues and the many moving and complicated parts of getting the funds returned. Therefore, please do not mistake our silence as ?hiding?, ?avoiding? or ?stringing you along?. We too have funds that are stuck in the system, as well as massive costs of operation without any income.
Rest assured that when we know, you will know and you will all be satisfied with the results. Again, your money is safe.
For those of you that have been in the industry for many years, I hope you will recall that I have a very strong track record of fighting for the rights of webmasters, program sponsors, billing companies, merchants and the industry; that dedication continues.
Thanks you for your understanding in this difficult time and for your support over the last 8 years of our operations.
Chris Mallick
For ePassporte
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It took awhile, but finally this...
UPDATE:
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Law360, Los Angeles (June 20, 2014, 8:56 PM ET) -- A Hollywood producer behind the 2009 Luke Wilson film "Middle Men" was hit with an $12 million judgment in California court Friday for failing to uphold his settlement with Fire Glow Holding Inc., which alleged he lied about his net worth to obtain a loan to finance films.
Mallick is also currently scheduled to appear in Los Angeles Court for a 2015 Trial for failing to abide by the terms of a promissory note made to an alleged ePassport victim, whereby the plaintiff's family member is alleged to have died due to lack of medication, as a direct or proximate cause of Christopher Mallick's negligence.
Friday's judgment was another blow for Mallick, who sank millions of his own money into notorious flop "Middle Men," a fictionalized telling of his rise to fortune through the creation of an online payments processing company, which became ubiquitous as a method of payment for pornography websites.
In Fire Glow's complaint, filed in September 2011, investor Greg Elias alleges that Mallick solicited the loan from Elias by saying that he needed the money to pay off a divorce settlement with his ex-wife. The defendant said he would give Elias a cut of ePassporte's cashflow while the loan remained outstanding, and that the potential sale of the company ? which Mallick claimed had been valued by a potential buyer at $80 million ? would cover Mallick's debt, Elias alleged.
But the plaintiff said media reports in September 2010 showed that Visa Inc. had severed its relationship with ePassporte, with Mallick's company dissolving the next month.
Upon conducting an investigation into Mallick's affairs, Elias learned in January 2011 that Mallick had actually settled his divorce for $6.1 million, according to the complaint.
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Chris Mallick - A Cautionary Tale
Sounds like Chris Mallick is going to go down hard...there will no doubt be more bad news coming to Mallick. Oh well, he got to play big shot Hollywood producer for awhile, and even got an ego movie out of the deal (even if it was a monumental box office failure financed on the dime of people that he ripped off). 
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