Quite than settle for an August eighth ruling denying them $6.3 million in stolen MOBE sufferer funds, Qualpay and Synovus Financial institution have filed an enchantment.
The beforehand granted TRO directed MOBE’s financial institution and fee processors to show over any funds associated to the enterprise to the Receivership.
Over an eighteen month interval Qualpay processed $80 million for MOBE, $6.3 million of which was held in a reserve.
Qualpay used Synovus Financial institution to course of the funds, with each looking for reduction from the already granted TRO.
In a nutshell, Qualpay and Synovus Financial institution argue the $6.3 million in MOBE sufferer funds are theirs to do with as they please.
Early final month respective motions looking for reduction from the TRO have been denied, requiring Qualpay and Synovus to show over the $6.3 million by August sixteenth.
So far as I do know that occurred, nonetheless since then each Qualpay and Synovus Financial institution have filed an enchantment.
The case docket reveals two Notices of Enchantment (one from Qualpay and one from Synovus Financial institution), informing the courtroom appeals have been filed within the Eleventh Circuit on or round August thirty first.
These appeals will now play out, with the funds in query sitting in a separate account pending a call.
I think about after Qualpay and Synovus Financial institution deliver up the identical arguments as to why they need to be permitted to maintain $6.3 million in fraudulently obtained funds, their respective appeals will probably be denied and that’ll be that.
Actually the preliminary injunction granted in opposition to MOBE and Matt Lloyd yesterday isn’t going to assist their trigger.
Fraud is fraud guys, you don’t get to maintain stolen cash.
Replace 2nd June 2020 – QualPay’s marketing campaign has come to an finish following a suspended $46.7 million settlement with the FTC.
Replace fifteenth December 2020 – A $2 million greenback settlement has been reached between Synovus Financial institution and the MOBE Receivership.