http://xbiz.com/news_piece.php?id=25...n ternational
Media Billing purchased the unit of Atlanta-based InterCept Inc. for $700,000 in cash, $800,000 in a short-term loan and the assumption of $22 million in debt.
Media Billing, formed to purchase iBill, is owned by iBill?s former chief executive, Garrett Bender, and Jason Galanis.
Galanis told Forbes that he is only acting as an intermediary for a ?handsome fee? in the iBill deal, not as a principal, on behalf of Luis Enrique Fernando Molina, who is the majority stockholder of Penthouse International, a Galanis business associate and Mexican hotel developer whose family controlled Pepsi-Gemex, the largest independent Pepsi bottler outside the United States. But Forbes said Galanis is more deeply involved than he lets on.
Galanis described himself to Forbes as a ?part of the investment banking team? that took Penthouse magazine public in 2002, then helped Molina in a deal in November to put another $107 million into Penthouse in a real estate/equity swap.
He is the son of John Peter Galanis, who bilked investors of $400 million before he was sent to prison. Jason Galanis has never been convicted of a crime, but served as chief executive in 2001 of EGX Funds Transfer (formerly known as Incubator Capital), a once-publicly traded financial processing outfit