$60M RICO Lawsuit filed against First Data Merchant Services Corporation, Bank One Payment Services LLC by One Solution Corporation; Small Business Merchant Fights Back.Business Editors ATLANTIC BEACH Atlantic Beach is the name of some places in the United States of America:
First Data Merchant Services Corporation, Banc One POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale Services Corporation and Banc One Payment Services, L.L.C., JP Morgan Chase Bank, Yahoo, Inc. and American Express Travel Related Services Company, Inc. are the subject of a lawsuit by One Solution Corporation, for deceptive and predatory practices in the matter of credit card processing and merchant services in the amount of sixty million dollars. Banc One also uses the trademark name "Paymentech". The Law Offices of Miles Garnett, representing One Solution Corporation, a company with an online storefront, filed the complaint in Nassau County, New York
Nassau County is a suburban county in the New York Metropolitan Area east of New York City in the U.S. state of New York. As of the 2000 census, the population was 1,334,544. , Supreme Court on July 10, 2002. The complaint charged First Data Merchant Services Corporation, Banc One POS Services Corporation and Banc One Payment Services, L.L.C. with conducting a "pattern of racketeering Traditionally, obtaining or extorting money illegally or carrying on illegal business activities, usually by Organized Crime . A pattern of illegal activity carried out as part of an enterprise that is owned or controlled by those who are engaged in the illegal activity. activity" by converting merchants funds in violation of the Federal RICO RICO n. . statutes as well as using predatory and deceptive business practices in violation of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State's General Business Law Section 349. These acts were committed against merchants using their services to process credit cards. According to First Data's website, they are the "world's largest provider of merchant processing services for all types of consumer and business payments." In fact, through their "network of bank alliances including JPMorgan Chase Bank, Wells Fargo, and Bank One, as well as relationships with hundreds of other financial institutions, First Data Merchant Services, enables merchants to accept any form of payment their customers want to use: credit cards, online debit..." With strategic alliances with Yahoo!, Excite@Home, iMall, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , and Verio Search engines, among others, First Data processes at least half of all the bankcard transactions worldwide at the rate of $1 billion in sales volume each day. The complaint also alleges deceptive business practices against JP Morgan Chase Bank, Yahoo, Inc. and American Express Travel Related Services Company, Inc. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion