I want to take a moment to shed some light and truth on some recent developments in our StormPay matter. Much has been said and much needs to be clarified. I hope the following update can help toward that end.
Beyond StormPayâ€™s displeasure with our using another payment processor, at no time in our relationship with StormPay did they express they had any issue with our business, with our transactions, or with the large fees they were earnings from our transactions. To the contrary, even in the midst of their demands that we remove our other payment processor, StormPay insured us that we had always been a very good client and that they had done much and wanted to continue to do much to help our business.
StormPay has also placed on its website claims and information on its website that are false and misleading. They also are making decisions regarding our account and the accounts of our members based on their own opinions and assessments or our company made without any supporting facts or documentation. They provided a description of the way they perceive all autosurfs function. Their description does not take into account the unique terms of 12daily Pro nor internal factors about our company operations which they are not privy to.
StormPay, throughout this process of our attempts to regain access to our account, has refused to communicate or cooperate. They drafted last weekâ€™s joint statement and instructed us to post it under the guise that they would work with us to refund our members. During that very conversation during which that joint statement was agreed upon, StormPay unilaterally conducted chargebacks of its users accounts and began withdrawing monies from users bank accounts and credit cards. With no access to our account, there was no way we could stop their unwarranted actions nor determine exactly what actions were taken.
Please understand that ALL 12daily Pro funds being held by StormPay were funds intended for the payment of withdrawals for both StormPay users, and EMO users, and all members transitioning to both processors from E-Gold. It was our attempt to move those funds that StormPay began these unwarranted actions that have led us to this point. The matter was further complicated because some of the money charged back to our account by StormPay included paid referral commissions that were derived from upgrades purchased with payment processors other than StormPay. The more they do, the more of an accounting nightmare it will be if and when we are able to get access to our account and/or funds.
Regarding the joint statement that was issued, we want to make it clear that we participated in its drafting only because we were assured StormPay would work with us on a refund strategy. From that point StormPay ceased all communication with us and did not honor their agreement to do so, nor did they respond to a specific demand letter issued to them by our attorney. This past Monday, StormPay finally contacted us. Again our demands were clearly issued. We await their timely response, if they are to avoid a legal action which we are fully prepared to initiate.
We have learned that the FBI is actively gathering information regarding the alleged unauthorized debiting of StormPay user accounts, bank accounts and credit cards. We also are very hopeful that government officials may be able to assist us in the recovery of funds so that they may be properly dispersed.
We are all in this together and we will keep you up to date as we know more.