I can only speak from my own experiences, but the people I know who use SegPay for substantial amounts have never had any issues with them. From the people I know at their company, none of them were with IBill either...not to mention just because they worked for IBill doesn't mean they had a say in what went down there; some of the IBill guys were good people.
Have to agree with DK, sounds like a pissed off employee who probably got fired for not doing his job.