Quote:
Originally Posted by Brad Mitchell
Scott... I love ya, but this thread is awfully ill conceived. He ran a money transfer service into the ground. We will eventually learn what really happened, but he had no rights to any of the funds in Epassporte other than fee revenue. Nobody owes him any thank you, Epassporte did not create opportunity - nor did it take any lending risk. If there is anything but small dollars that get unsettled, perhaps a last million or two for operational burn, he owns that. We are talking tens to a hundred million perhaps (nobody knows) that is inaccessible. Hopefully, one way or another funds find their way to their respective owners.
Brad
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maybe i'm missing something but what I saw was one day Epass was working and the next day it wasn't - visa option was pulled by the bank for unexplained reasons and frozen by them.
Suddenly everybody wanted everything out - and like all banking institutions, not everything would be instantly liquid so they stalled a bit on the wallets...
Some wallets got paid - some are supposedly in transit...the rumor is the visa's are operational on Thursday to withdraw money...
i don't think I'd be ragging on Chris for a least a few months
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