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Originally Posted by chodadog
Also, it must be asked. Would this bank have allowed Inteca to become a third party escrow agent had they known about the links to iBill? I mean, it's only through internet sleuthing that this link was brought to light. It could have easily been overlooked.
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I believe that the EU bank DOES know all about Inteca's relationship with iBIll and that it made it a plus for Inteca to be the third party.
Confidential iBILL information on webmasters and payouts have to be given to a third party to handle the disbursements. If Inteca knows/understands the internal iBill accounting system, then it would have an easier time with the datadump and the management of the accounting.
A complete outsider company would have to be able gain the trust of both the EU bank and iBill to be the "escrow agent", and not every bank would step forward to get involved with this kind of unusal arrangement. Remember, this is adult transactions, and VERY few banks want to get involved with adult.
I believe that most banks would avoid being the middleman in the arrnagement and other escrow type companies may not be suited to handle the level of involvement it takes to be the middle man of handling thousands of micro transactions.
The people that do the actual work at iBill do what they are told. Upper management (ie. CEO) calls the shots. And everyone from Cathy B. on down does what they are told to do.
If the CEO says "take from paul to pay peter", then that's what they have to do as a form of "creative financing". The situation is that the EU bank saw this and forced executive management to make a significant change that effectively put them out of the loop as far as being able to control the money.
Anyone working at iBill, like Chris, did not make the decisions to do the "creative financing". As long as Chris was not responsible for the money situation decision (which is the CEO's responsibility), then it's not exactly tainted that he is involved
I agree, it does cause room to pause and wonder, when you see addresses matching up, and names and entities being associated with iBill.
If you start reading about EU webmasters getting their checks from Inteca, then we can all see that alot of speculation was rightfully conceived, but missing additional facts that are/were explainable.
More forthcoming information and explanations would certainly have helped, but the CMI updates atleast explain that there is a change going on and hopefully for the better for EU webmasters.
Time will tell.
Fight the Fishy Smells!