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To be honest, I have been fairly lucky with my adult webmaster experience during the first couple of years. There have been failures of billing companies like iBill, Probilling and AC Pay aka EGS Pay, but they just cost me 2 weeks of revenue for each company's sponsor. Since they were little guys it was limited to a small 3 digit loss. Most of those billing companies had shaving options built in for their programs. I am certain, I lost more from shady affiliate programs like Bargirl Cash compared to actual bankruptcy of said billing companies. They were failed enterprises and I moved on. Shit happens and it's better to forget. It's impossible to get crazy about it and try to put up a legal fight. You can't win.
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Fraudulent Paycounter
The first time I felt scammed was when Paycounter.com failed to pay me. I had used this service providing great, free statistics in return for traffic skimmed on clicks on their logo placed on my site along with the code of their counter. At that time it was one of the most advanced traffic counters available and the prospect of getting paid made it even better. I reached my first payout minimum within 2 or 3 months, but no payment arrived. I posted on GFY to ask about the credibility of this service and people assured me the owner KC was a great guy and he would pay, certainly. It took some time and heat on the boards to have KC get back to me. He acted like a lost uncle from another planet. 'Sure, I am going to pay you, but make sure you tell nobody else I did. I want you to have a nice dinner with your GF.' WTF! It was written on the wall he would never pay again, but I fell for his nice words and kept putting his code on my sites. When the next checks were due I never heard from him and so it happened to others. Sooner or later his sites' logos would keep surfers in circle jerks. PC would get banned and later he went out of biz in silent mode. One can only imagine, how much money he made from his scam. I would think he built a couple of homes and is renting them out every month.
Apology or Denial?
Since then I would apply common sense to online biz and judge it in a similar fashion that served me well in offline enterprises. I had a couple of sponsors come at me and they went without pay for a couple of months, but did make up to it later. They were honest about their situation and apologized.
There have been others who never responded and left me with 5 figure payment expectations that were never met. Some of them acted like KC from Paycounter and blamed others for their misery. My lesson learned: if something smells fishy, it is rotten fish. Honest people apologize for mistakes - fraudsters blame others, deny their own participation and even try to blackmail. Give them up and move on.

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