T1 Payments

T1 Payments is an unregulated high-risk payment processor that was founded by Donald Kasdon in 2012. The company operates in both the United States and the United Kingdom.Recently, T1 Payments has come under scrutiny for its actions towards high-risk clients and multi-level marketing operators Beyond Wealth and IBUUMERANG. The payment processor terminated their accounts and allegedly withheld significant amounts of money. Beyond Wealth claims that T1 Payments retained $4 million, while IBUUMERANG alleges that $6 million was withheld.Both Beyond Wealth and IBUUMERANG have filed fraud complaints against T1 Payments, and the court cases are currently ongoing. The outcome of these cases will determine whether T1 Payments will be held accountable for their actions.It is worth noting that T1 Payments is an unregulated payment processor, which means that it is not subject to the same level of oversight and regulation as traditional financial institutions. This lack of regulation can make it more difficult for clients to seek recourse in situations like these.Overall, the situation involving T1 Payments and its actions towards high-risk clients and multi-level marketing operators is still unfolding, and the outcome of the court cases will shed more light on the matter.