Former IBill Owner Sentenced to 14 years in prison
 

Karma. :2 cents: IBill took thousands from me fuck him

"Prosecutors said Galanis misappropriated over $8.5 million for his personal use, including to buy a home, jewelry, clothing, travel, entertainment and meals.

Forbes magazine labeled Galanis ?Porn?s New King? in 2004 after he bought the nation?s biggest payment processor for internet pornography."

?Porn?s New King? sentenced to over 14 years in prison | New York Post

A LOS ANGELES man once dubbed ?Porn?s New King? was sentenced to more than 14 years in prison after cheating a Native American tribal entity and pension fund investors of tens of millions of dollars.

Jason Galanis, 47, was sentenced on Friday to 14 years and five months in prison by U.S. District Judge Ronnie Abrams in Manhattan for a scheme that lost over $40 million.

Abrams said Galanis was ?charming, manipulative and flat-out lying to people? as he carried out his crimes from March 2014 through April 2016.

He said they defrauded a Native American tribe into issuing bonds before selling the illiquid bonds to unwitting pension funds only to steal the proceeds for themselves.

?For his role in this campaign of theft and deception, Jason Galanis will now spend over 14 years in prison,? Kim said.

Prosecutors said Galanis misappropriated over $8.5 million for his personal use, including to buy a home, jewelry, clothing, travel, entertainment and meals.

Forbes magazine labeled Galanis ?Porn?s New King? in 2004 after he bought the nation?s biggest payment processor for internet pornography.

Hope he's doing state time and not fed.

What's the difference with state time? I thought fed time was tougher no?

who knows how much he has stashed away :)

Hopefully he stashed up his ass and it will be found one dollar and one dick at a time.

:1orglaugh:1orglaugh

Ironic -- the pleading of save me, save me! from the vultures of the adult industry. In the end he fucked over an Indian tribe and the Feds nailed him. (or paradoxical?)

There should be a lesson in this -- porn will get no help but only harassment from the Feds -- so quit your dreaming.

State time is harder than Fed , Fed you get a comfortable stay compared to state stay. Fed you can get so many days off your sentence too for good time

Good to know thanks. Let's hope he lands in state prison :D

His father got 27 years in federal prison.

Update: Turns out his sentence is in federal prison too :(. Brazen Securities Fraud on Tribal Entities For Tens of Millions Results in 14 Year Jail Term

"After defrauding a Native American tribe into issuing bonds, Jason Galanis and his cohorts sold the illiquid bonds to unwitting pension funds, and then stole the proceeds for themselves. For his role in this campaign of theft and deception, Jason Galanis will now spend over 14 years in federal prison.?

But no more than 15% of the sentence. Minimum 85% must be served. Much lower percentage of time served on average in State prisons due to overcrowding.

With the time off it is actually just the opposite. In a federal prison, at most, you can get credited with 54 days of good time per year so you end up serving about 85% of your time. At the state level you can get a lot more time reduced and end up serving a lot less because they take other factors like overcrowding, what you are in for, etc. into consideration.

The good part about state time is you will likely stay close to home so your friends and family can come see you and you are typically in with fewer violent criminals. On the fed side, they can move you whenever they want wherever they want so you can be convicted in California and end up doing time in Georgia.

And. . . good riddance this prick still owes me about $4,000.

Not enough years for what he did...

Quoted for truth

Fed time you do 85% of your sentence. state is like 50% :2 cents:

Agreed :2 cents:

No one in the porn biz got a penny in restitution -- so any win was only in revenge.
Nice to see him go down however.

He will litterally "be going down" soon :1orglaugh

I lost $20,000+ and wrote it off years ago, but its nice to see that this cunt got his just rewards.

:(

We were among the lucky few who got paid the balance of what they owed. But it took a lot of manipulation at the time.

Glad to hear some people got paid. There are some out there that lost a ton of money.

Man, that's awesome. Although it would have been better to hear that his sentence was related to all of the Webmasters they screwed over. I lost around 9k and at the time they were my only source of income.

I would call them daily trying to find out what was going on and was told a different story every time. They purposely tried to keep you billing with them as long as possible by making you think that it was just a temporary problem and you would receive payment asap.

He deserves every minute.

What payment processor did he bought and ran ???

a few people got their money owed

It was IBill

now if they could snag the epassporte asshole too.

Where do these fuckers get the capital in the first place?

Crooked bank employees who would take your home at the drop of a hat if you miss a payment, but let assholes like this get away with hundreds of millions. So long as they get there bonus twice a year.

Ibill opened up again in 2011, lots of posts are on GFY. The asshole employee who re started IBILL came on here trying to get accounts, he failed miserably and the company has now closed again at least as IBILL.com and Ibill.net.

iBill was an internet billing company, founded in 1997 and known in the early 2000s as a top credit card transaction aggregator for adult entertainment websites. It was acquired by InterCept in 2002 and subsequently purchased by Interactive Brand Development in January 2005.

iBill was incorporated as 'INTERNET BILLING COMPANY, LTD.' and changed its name to 'IB HOLDING COMPANY, LTD.' in 2002. 'INTERNET BILLING COMPANY, LTD' was incorporated on 10/23/96 with $990. On 3/19/02 the company filed for total capital contributions of $15,886,000.00. Albert J. Angel is a key person who acted as iBill's first president.

I have pics somewhere , of them being at a show:2 cents:

Be interesting to see them.

As soon as there's an info where he will be located, it is a chance for all the people that are still owed to go for a visit. :Graucho :spawn
What goes around comes around...

I wish Mallick gets the same penalty one day... :2 cents:

QFT :thumbsup

Lost around 25K with them, while not largest amount someone in adult took from my pocket is on top 3.

he's probably gonna still be rich when he leaves jail too.

someone needs to goto jail and shank him

I remember seeing that asshole at InterNext.