Quote:
Originally Posted by Brad Mitchell
Scott... I love ya, but this thread is awfully ill conceived. He ran a money transfer service into the ground. We will eventually learn what really happened, but he had no rights to any of the funds in Epassporte other than fee revenue. Nobody owes him any thank you, Epassporte did not create opportunity - nor did it take any lending risk. If there is anything but small dollars that get unsettled, perhaps a last million or two for operational burn, he owns that. We are talking tens to a hundred million perhaps (nobody knows) that is inaccessible. Hopefully, one way or another funds find their way to their respective owners.
Brad
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I think this is pretty much right.
Sleazy is also right that we should acknowledge and appreciate the ground that epassporte broke and that many of us benefitted from using it to disperse funds cheaply around the world, but the simple fact is that it wasn't a charity, it was a business and a lot of people trusted that business and have been inconvenienced by something that should never have been allowed to happen or allow to get "out of Mallick's control".
However until everybody with balances held in their real names or corporate accounts that can prove their identity has been paid out, such praise is premature and will only offend people with funds still being held hostage.
I hope that if anybody loses money, it is only those who probably contributed to epassporte's demise with their multiple and fake accounts.