OctaPay

Quick summary on OctaPay

OctaPay and iPayTotal, two notorious high-risk payment processors, are embroiled in a tangled web of controversies and alleged fraud. The companies, linked through Rashal International LLC owned by Vishal Coodye, have faced mounting allegations of blackmail, non-payment to merchants, and fraudulent schemes. OctaPay, established in September 2020 with Madhumita Singh as its sole director, quickly plummeted into disrepute. The December 2020 firing of Christian van Biezen, OctaPay’s European CEO, added to the chaos, suggesting a murky internal culture riddled with “serious and claimed hostile behaviors.” Van Biezen’s exit, reportedly under suspicious circumstances, underscores the instability within OctaPay’s leadership.

Growing Backlash
The fallout from these companies’ actions has been severe. The UK Companies House halted OctaPay Ltd.’s attempt to dissolve itself voluntarily, indicating potential legal and financial repercussions. Madhumita Singh resigned as director in March 2021, further fueling speculations of misconduct. Meanwhile, iPayTotal, linked to the same network of individuals including Anurag Pratap Singh, Aditya Williams, Ruchi Rathor, and Sen Kugan, is also under scrutiny. The company’s forced bankruptcy and liquidation highlight its financial mismanagement. The establishment of CryptoMatix, an unregulated cryptocurrency platform in Estonia, appears to be yet another attempt to dodge accountability. The sudden disappearances of executives like Davina Mungroo and Ruchi Rathor from LinkedIn raise red flags, pointing to a concerted effort to erase their digital footprints amidst scandal.

Conclusion
The implosion of OctaPay and iPayTotal is a testament to their deceptive practices and lack of corporate integrity. As businesses, individuals, and money vanish from their network, the unanswered questions pile up. The disturbing pattern of fraud, mismanagement, and leadership exodus cements the companies’ reputation as cautionary tales in the payment processing industry.