Hi!
Joyce, you make good points, as you usually do! The Receiver's report said that Stormpay was listed in the case alongside of 12DP because the majority of Stormpay's business was 12DP. In less than a year, 12DP pulled in over 500 MILLION - with most of that going through Stormpay.
But yes, there were a few small businesses using Stormpay that were not part of 12DP and they lost access to funds. A lot of those people have filed their names with the Receiver to see if they can recoup their losses. I hope they can.
You're right, Kathy - It's very heavy stuff! One of the huge, huge red flags that a lot of people ignored was that bigger payment processors - like Paypal, for example - prohibited 12DP and programs like it. When a company the size of Paypal says 'you can NOT use our billing service for "abc" - that's a red flag that should not be ignored.
: ) Linda
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