Merchant Account Underwriting Tools

The Habit of Capitalists

When assets are frozen and requests for credits come in, do chargebacks increase?

“While Defendants correctly state that enrichment is the “habit of capitalists,” Opp. at 7, they completely miss the point. What is significant is the totality of the circumstances and what emerges is Fadi Salim, a fraudster who: (1) bilked consumers out of millions of dollars, one prepaid calling card at a time; (2) has no regard for the corporate form; (3) displays an appetite for a lavish lifestyle; and (4) has the ability, means and connections to place his assets offshore and outside the FTC’s reach. Without a receiver and an asset freeze, there is no check on Mr. Salim’s ability to completely drain Millennium and any personal funds that would otherwise be available for consumer redress.”

2:11-cv-02479-JLL -CCC FEDERAL TRADE COMMISSION v. MILLENNIUM TELECARD, INC. et al

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