PayPal Holdings was accused by victims of an alleged Ponzi scheme of failing to detect the fraud while processing more than $100 million in investments. Even after the company had banned the operator of the internet advertising “pay-to-click” programme from using its services in 2011 over his involvement in a similar scheme, PayPal played “a crucial — indeed, indispensable — role” in letting him siphon and steal investor money, according to the complaint in federal court in San Jose, California. The operator, Charles David Scoville, was ...
PayPal accused of crucial role in massive ponzi scam
Investors say it served as payment processor for about $134 mn in investments in Traffic Monsoon
Robert Burnson | Bloomberg Last Updated at May 7, 2017 00:56 IST