GPal...the saga continues

First, yet another blogroll update.  By way of Where Sometimes Things Go Bang, please welcome ViolentIndifference.

Now read this very disturbing tip...!

Payment Processor Possibly Conducting a Ponzi Scheme

Since January 2010, the IC3 has received hundreds of complaints regarding a website that victims reportedly used to transfer money for the sales of firearms; however, the website has not allowed them to withdraw the funds after their merchandise was sold.

The website claims to be a payment processor to be used as an alternative to other familiar online payment transfer services and was created to allow for the purchase of items that others of its kind do not allow (e.g., firearms). The website encourages consumers to use their services by advertising that they send money to consumers or anyone with an email address, an individual can easily pay for anything using the web, and sign-up is free, quick, and easy.

The website appears to have been set up as a legitimate business but shortly after operations began, customers started experiencing funding delays. Ultimately, customers who received funds only received partial payments, and those payments were delayed by months.

Additional research indicates that the money submitted for transfer may have been fraudulently misappropriated. This scam appears to have become a Ponzi scheme with previous customers being paid by funds from new customers.

No good can come of this.  But I found a cool new blog, at least.