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-   -   Can someone tell me why epass closed? (https://gfy.com/showthread.php?t=991295)

bufferover 10-07-2010 04:25 PM
Chris saw a big potential in the movie making biz. So his ePass venture comes to the end i guess. Middle Man sucked but he still plan to make a movie in 2011.

V_RocKs 10-07-2010 04:41 PM
Quote:
Originally Posted by ThumbLord (Post 17585472)
I could tell you but then again your life would be in danger, so because I like you I cannot tell you.
try to read some russian boards or hire somebody to read and translate some russian boards.
You learn something new every day... Just found a Russian board bigger then GFY? WTF?

SZNY 10-07-2010 04:59 PM
Probably this is all staged and masterminded or has a reason to cover up the dirty stuff behind the scenes.

The guy is not stupid and probably needed to make his next move in his chess/power game. The people here on the board will never know what were the true reasons and intentions.

BIGTYMER 10-07-2010 05:12 PM
Closed as in gone? You don't think epass will be back?

MaDalton 10-07-2010 05:13 PM
Quote:
Originally Posted by Jdoughs (Post 17583883)
I think they had to prove identities for their accounts. I think an audit or inspection happened and they had XX days to show compliance. When they didn't, the cards were turned off by the bank while they looked for a solution. I imagine the bank tried to deal with epassporte and have them provide answers, and after a couple weeks gave up (which we can understand, impossible to deal with epass, or even contact them.).

Soon as the bank took over we were told we would see access and some users would have to verify, basically they need to get their ducks in a row and show that there is only a small ratio of nonverified accounts.

Of course, just speculation and I'm no banker.
this is basically also my information. the main problem seemed to be that every user could give another user a gift card and up to the first $5000 there was no identity check

elron 10-07-2010 06:14 PM
they were involved with internet gambling, nothing more to add. Looks like mallick couldn't say no to some easy money and paid for that big time.

TisMe 10-07-2010 06:27 PM
Gaming involvement is also my guess.

The warning signs were there. I remember within the last 2 years or so someone complaining that their bank, BOA or Wells Fargo I think, wouldn't let them transfer funds to their Epassporte account.

Just recently Segpay announced that their bank wouldn't allow them to pay out to Epassporte.

will76 10-07-2010 06:38 PM
Quote:
Originally Posted by TisMe (Post 17585893)
Gaming involvement is also my guess.

The warning signs were there. I remember within the last 2 years or so someone complaining that their bank, BOA or Wells Fargo I think, wouldn't let them transfer funds to their Epassporte account.

Just recently Segpay announced that their bank wouldn't allow them to pay out to Epassporte.
Bank Of America blocked them 2-3 years ago because of their involvement with gambling. But I also read they stopped dealing with gambling transactions when the US started going after people involved with internet gambling. I am sure Mallick (who i believe is a US citizen) didn't want to risk being thrown in jail. Everything I have heard since then they haven't been involved with gambling.

TisMe 10-07-2010 07:20 PM
That is why it was a guess, I don't know :)

It may have been account holder verification as stated above or something else entirely.

lagcam 10-07-2010 07:26 PM
Quote:
Originally Posted by Jdoughs (Post 17583883)
I think they had to prove identities for their accounts. I think an audit or inspection happened and they had XX days to show compliance. When they didn't, the cards were turned off by the bank while they looked for a solution. I imagine the bank tried to deal with epassporte and have them provide answers, and after a couple weeks gave up (which we can understand, impossible to deal with epass, or even contact them.).

Soon as the bank took over we were told we would see access and some users would have to verify, basically they need to get their ducks in a row and show that there is only a small ratio of nonverified accounts.

Of course, just speculation and I'm no banker.
This would be my closest guess without additional information coming out.

woj 10-07-2010 07:33 PM
50 reasons why epass closed

spacedog 10-07-2010 07:55 PM
I think ePass would not of shut down had this issue with St Kitts not happened. Over a month of no income coming in for ePass had to hurt them financially.

St Kitts basically KILLED their business.

Barry-xlovecam 10-07-2010 08:23 PM

http://www.cuopm.com/admini/NEWS_POS...OPMNEWSID=1298

Quote:
[T]he Federation will be signing a tax information exchange agreement with 6 Nordic countries on March 24 2010 and will at the latest be removed from the OECD Grey List on that date.

?This being said, we will continue to do our part to advocate for the official recognition of the unilateral mechanism to ensure that in the event that the threshold is again changed in the future, that we will not be in the position we now find ourselves where we are at the mercy of the bureaucracy of OECD countries. We will also continue with our attempts to being a final conclusion to the negotiations with the countries that we have already initialed tax agreements with and with other countries that we are currently negotiating with,? said the statement.

St. Kitts and Nevis has already signed agreements with Monaco, The Netherlands, The Netherlands Antilles, Aruba, United Kingdom, Denmark, Belgium, New Zealand and Liechtenstein.

Countries the Federation has initialed or concluded negotiations with and are awaiting dates for signature are Australia, Canada, France, Germany, Norway, Sweden, Greenland, Faroe Islands, Iceland, Finland and San Marino.

Countries the Federation has commenced discussions with about Tax Information Exchange Agreement but have not yet confirmed the text for these agreements are India, Japan, Republic of Seychelles and the United States. ...
CUOPMDATELOCATOR
2010 February

fris 10-07-2010 08:30 PM
Quote:
Originally Posted by BIGTYMER (Post 17585717)
Closed as in gone? You don't think epass will be back?
no it wont be.

BIGTYMER 10-08-2010 04:13 PM
Quote:
Originally Posted by fris (Post 17586127)
no it wont be.
Yeah... I had heard people saying it but I didn't know why. I see why now after logging into my epass account. :(

wolfshade 10-09-2010 04:39 AM
Quote:
Originally Posted by fris (Post 17586127)
no it wont be.
Oh you're wrong there, very wrong.

Scum like that always comes back.

Sure a new name, but the same setup, all geared up to do it all over again.

I estimate in about 3 months a new "wallet" provider will emerge and try this crap to have another go, and guess who will be directing it from the shadows..........

alias 10-09-2010 04:47 AM
for the lulz

punkpred 10-09-2010 04:58 AM
Quote:
Originally Posted by CYF (Post 17583950)
rich people don't risk their own money, they risk investor's money.
:2 cents:


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