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06/09/2020
Rogue Payment Processor that Helped Perpetuate Multiple Scams Is Banned from the Payment Processing Business Under FTC Settlement
FTC
A rogue payment processor and its owners agreed to be permanently banned from payment processing in order to settle charges by the Federal Trade Commission and the State of Ohio that they unlawfully processed payments for multiple scam operations.
Madera Merchant Services, LLC, B&P Enterprises, LLC, and their owners Bruce C. Woods and Patricia Woods, along with Madera officer Victor Rodriguez, allegedly helped perpetuate a number of scams targeted by the FTC and other consumer protection agencies. The FTC and State of Ohio filed their complaint against the defendants in July 2019.
“Payment processors who help scammers steal people’s money are a scourge on the financial system,” said Andrew Smith, Director of the FTC’s Bureau of Consumer Protection. “When we find fraud, we are committed to rooting out payment processors and other companies who actively facilitate and support these fraudulent schemes.”
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