An Update on IMVUPay.com

Remember last year when the drama surrounding the registered reseller "IMVUPay" occured? For those of you who aren't familiar with this, I'll do my best to quickly explain.

IMVUPay.com was a sort of IMVU credit stock market which fluctuated. You could watch the market, buy and sell credits directly into the system and use the market to gain the most from your credit sales or use it to get the best purchase deal. It was a great idea that flopped horribly when suddenly people found themselves paying for a service they weren't being provided with. At this point, it is estimated that IMVUPay owes members of the IMVU comminity hundreds of thousands in dollars for credits sold and purchased credits never received.

It's a locked thread and just under a year old, but if you need a refresher on this topic, you can check it out Here in the forums.

My interest in this topic was revived today when the question rose in the CCGen forums "Any IMVUPay News?" Well I had long since given up on there being any, but a little research and with the help of the community, I landed on some significant pieces of information.

For starters, it looks like IMVUPay.com no longer exists. They closed their doors and left the following message:

"NEWS!! PLEASE READ!
We regret to inform our wonderful members that IMVUPay will be shutting down. Things have been extremely hard pressed on our small team to keep this site functioning with little to no budget and we would like to personally apologize to our users for any misunderstandings and/or inadequate service you have received.

We do have some exciting news for you though: IMVUPay has been purchased! We have been told that they will be incorporating our clients to their new website, which is very user-friendly, and all the old accounts will be reconciled. We hope this will help to clear up any issues we may have had in the past. Thank you for all of your loyalty to us, we hope you will show the same level of energy to the new management.

Best Wishes,
Phil + Chad
PS: Please remember to keep checking here for updates."

Too bad whoever supposedly purchased IMVUPay, missed the memo because its clients are still without payment. No one's accounts have been incorporated anywhere and hundreds of people are still filing complaints with the BBB and Paypal in hopes of getting their money. Some people are owed several thousand dollars.

Here are ex-IMVUPay customer's stories about their run-around dealings with the company:
Report: #418069 @ RipOffReport.com
Report: #437766 @ RipOffReport.com

The most disturbing news? IMVUPay's Exium has been allowed to re-register as a Credit Reseller under the name IMVU Credits Express or IMVUCE. Exium (Phil) was the creator of IMVUPay while the above signed "Chad" did the coding. for it.

It's my understanding that Phil first denied his involvement with this new company, but was caught and has since told the truth. UPDATE: Exium wrote a message to me today basically to tell me that he never denied involvement with his new company. He was not ready to unveil it when his files and folders were found and people began to call him out. Fair enough sir. Several members of the community are suspicious that "ex-partner" Chad may still be working with him. Fool me once, shame on you. Fool me twice, shame on me.

I cannot believe IMVU allowed a person involved in such fraud to not only continue as a member of the community, but has allowed them the chance to defraud us again. That is a slap in the face of the people still waiting to get paid and and a big middle finger to the community.