More bad news for RevGuard founder Blair McNea, whom was sued by the FTC last month. According to a source, criminal charges are imminent for McNea.
McNea’s fraudulent scheme utilized dozens of shell corporations to illegally acquire Visa/Mastercard merchant accounts. McNea thereafter utilized these accounts to defraud tens of thousands of Americans by “load balancing” unauthorized credit card transactions across each merchant account. By load balancing the unauthroized credit card transactions, McNea was able to stay off the radar of regulators and perpetuate an ongoing fraudulent scheme. We’ve covered this type of scam in the past and predicted multiple government actions would come down the pipeline.
According to our source, McNea processed a number of his credit card transactions through REDACTED, both known players for processing transactions for accused scammers like McNea.
The USA Herald is investigating other companies that may have used REDACTED and REDACTED to illegally acquire merchant accounts as well. One company we’ve identified is Healthy New Beginnings (HNB), which was shut down by the Florida Attorney General.
