Fraud Claim Filed With StormPay Payment Processing

Activity Log (Rec'd from StormPay Inc.)

Fraud Claim Closed by StormPay
15 Jun 2005 21:03
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Hello Netbux Investors:

On behalf of StormPay, Inc., I wish to bring you up to date on our efforts to communicate with Mr. Chad French in regard to his recent transaction with you. We have directed multiple e-mail and telephone communications to Mr. French in order to ascertain the specific facts and circumstances as to why his website is no longer available and why he has failed and refused to communicate with us and you regarding the pending claim you have asserted against him.

As you know, he is refusing to take calls from us or his investors. Obviously, without any recent or direct communication with Mr. French it is impossible to determine what his future intent is in regard to following through with the commitments he has made to you. We are aware of Mr. French's recent forum posting, but would state that he has not accurately represented the facts in that posting with regard the number of referrals and especially the status of any funds StormPay is holding in his account.

Your request to be reimbursed has been forwarded to our Risk Management team for review. Mr. French has had his StomrPay account suspended from transacting any further business through StormPay. Unfortunately, at this time there are no funds available within Mr. French's StormPay account to pay out to you on your claim. He has long since withdrawn funds that were being held in his StormPay account.

If any funds are recovered from Mr. French, your StormPay account will be reimbursed. Rest assured that we are doing everything within our powers to recover these funds including contacting the authorities if necessary.
We regret these circumstances but urge you not to allow this situation to deter you in your future on-line transacting. We strive to make StormPay the safest and securest on-line payment processing system available. If we are successful in recovering funds we will make direct contact with you.

As with programs of this type, as the buyer you must carefully consider the statements and representations of the merchant before investing. You must determine what is a promise or guarantee as opposed to what is an anticipated result given a certain set of variable facts and circumstances. You must determine how reasonable and likely those anticipated results are before you determine to spend your money.

With all that being said, we truly regret these circumstances and will keep you advised on developments as they occur. Of course, we still hold out hope that Mr. French will soon get his site back up and running or develop a new site and make good on the promises and representations he has made. He will however, have to make payment arrangements through another entity as StormPay will not be in a position to provide these services to Mr. French in the future. For these reasons we will have to close your claim at this time.