iBill ? The past, present and future

Anyone who was with iBill before, you might want to see where your money went
This is from a email I got way back.


Hello all, my name is Jonas Brown and I am the CEO of iBill, Inc. www.ibill.net I felt that I needed to help all you merchants who used iBill.com in the past to see the timeline from 95 to 09 and the trail your money took

1995
iBill was founded on December 1st 1995 by Albert J. Angel. According to the Florida secretary of state records located here

http://www.sunbiz.org/scripts/cordet...s_filing_type=

2001

iBill was growing at a rapid pace
http://www.internetretailer.com/inte...7-percent.html

2002
iBill grew to be the largest payment processor in the world by 2002 and sold to a company called intercept InterCept, Inc. (Nasdaq: ICPT). http://finance.yahoo.com/q?s=icpt

http://findarticles.com/p/articles/m...r-support.html that year. As of the sale date, iBill.com had accounted for all payments and every reserve dollar was accounted for as well. There were no complaints filed on iBill for not paying out prior to the sale in 2002
intercept was a company that was having problems with the shareholders for a stock that was not moving. So they felt that if they purchased iBill, and added it to their portfolio, it would boost the stock. Bad idea


Credit-card processor Intercept's (nasdaq: ICPT - news - people ) 2002 acquisition of Internet Billing, or iBill, may go down in history as one of the most boneheaded acquisitions ever by a public company

http://www.allbusiness.com/company-a...5584536-1.html

2003
Was the first time payouts were not made. Notes were issued as intercept/ibill was not paying the bills

2004

Penthouse International Acquires Internet Billing Company LLC ?iBill?
http://www.forbes.com/2004/03/22/cz_sl_0322galanis.html

September, 27, 2004

iBill gets Merrick Bank to processes iBill?s $300 million or so in annual credit card purchases http://www.forbes.com/2004/09/27/cz_sl_0927ibill.html

2005


January 24, 2005

SEC CHARGES PENTHOUSE INTERNATIONAL, INC., A FORMER OFFICER, AND A SHAREHOLDER WITH ACCOUNTING FRAUD, REPORTING VIOLATIONS, AND VIOLATIONS OF THE SARBANES-OXLEY CERTIFICATION RULES
http://www.sec.gov/litigation/litreleases/lr19048.htm

2006

March, 9 2006

iBill Loses 17 Million Porn Customer Records
http://consumerist.com/159334/

This turned out later to be a fake, it was not iBills customers but bulk list of emails posing as ibill to gain value
2006
Penthouse International is closed by the SEC there for iBill as well.
2008
Jonas Brown acquires iBill.net and does a overhaul of the once proud company

iBIll hires an outside CPA to audit the Reserve accounts for all merchants two times a year.

2009
Jonas Brown goes to Miami Beach to meet with Albert Angel former CEO of iBill


Please note, I am truly sorry about what happened with your accounts and it is not something we are able to pay for. Intercept or Penthouse destroyed all the records.
In closing, the true people to be upset with is the person who spent your funds. That is intercept and Penthouse International.

If you have any questions, please feel free to email me.
[email protected]