Contrary to a post seen on-line recently, Maurice Verrelli was NOT convicted by the FTC for fraud. That’s because the FTC does not “convict.” They “sanction” which is to say they obtain from the federal courts injunctions against fraudsters to force cessation of unlawful acts. (http://www.ftc.gov/enforcement/cases-proceedings/x990094/creditmart-financial-strategies-inc-maurice-verrelli).
In this case $9.2 million was ordered for repayment of consumer losses, but it was suspended due to inability to pay.
Currently, if on-line information is correct, Verrelli appears to be in the merchant processing business with Axxess Payments in Canada. According to http://canada.topcreditcardprocessorsglobal.com/best-credit-card-processing-companies Axxess is one of the top Canadian processors.
One has to wonder how this could be when another website begs to differ, with many pages of complaints. (http://www.cardpaymentoptions.com/credit-card-processors/axxess-payments/). Many other posts reflect similar experiences.
Posts about other prior merchant processing business that connect to Verrelli might be found by checking google for Merchant Cash Direct, Canadian Merchant Association, and Vizex Canadian Payment Systems.
Maybe that $9.2 million settlement can be paid off after all.