iGenius, owned by SEC-registered Investview, has filed suit against an undisclosed credit card processor.
As disclosed in
Investview’s 2024 10-K Annual Report
, filed with the SEC on March 28th, 2025;
The Company’s financial statements as of December 31, 2024, reflect a receivables balance of $2.53 million.
Of that balance, $2.19 million represents receivables that arise out of credit card transactions generated by the Company’s iGenius subsidiary.
The credit card transactions that arise out of the ordinary course operations of the Company’s iGenius subsidiary are processed by the Company’s credit card processors, in conjunction with their clearing banks.
Over time, the balance of credit card collections being held by one of our credit card processors and its clearing bank, which are legally supposed to be held for the benefit of the Company, subject to coverage for chargebacks and other normal course collection issues, has increased to approximately $1.87 million, an amount that has been generally confirmed by the credit card processor.
As they had been unresponsive to our repeated demands for payment, claiming that they were in the process of concluding their internal accounting of the amounts due and status of our accounts, in March 2024, the Company instituted a lawsuit against this credit card processor and its clearing bank seeking, among other things, an accounting for and repayment of the withheld funds.
Notwithstanding, to date, we have been unable, through negotiations and through our lawsuit, to recover any amount of the receivable balances owed to us as the credit card processor asserts, among others, that it continues to evaluate possible exposure to chargebacks and other normal course collection issues.
Recently, however, the Company’s application for a pre-judgment writ of attachment against both the credit card processor and the clearing bank, has been granted.
Although the Company’s collection efforts will likely be enhanced by application of the pre-judgment writ of attachment, there can still be no assurances that the Company will be able to collect some or all of the funds owed to it.
Should the Company be unable to collect some or all of the funds owed, it will be caused to incur a corollary bad debt expense of up to the uncollected amount which is currently approximately $1.87 million.
Furthermore, the Company may be caused under generally accepted accounting principles to incur a bad debt expense if it is determined that the amounts owed to the Company are unlikely to be collected, although the Company has not yet reached that conclusion.
Investview doesn’t disclose the credit card processor or the clearing bank, let alone the operating jurisdiction. This is likely because all three are high-risk.
Why?
As explained by Investview in their 10-K filing;
We have experienced unfavorable publicity for several years that, to some extent, we attribute to the SEC inquiry that had been ongoing since November 2021.
Th
🤖 Quick Answer
What happened between iGenius and its credit card processor?iGenius, a subsidiary of SEC-registered Investview, filed a lawsuit against an undisclosed credit card processor over approximately $1.87 million in withheld funds. According to Investview's 2024 10-K Annual Report filed on March 28, 2025, the company reported $2.19 million in receivables arising from credit card transactions processed through iGenius operations.
How much does iGenius claim in receivables from the credit card processor dispute?
Investview's financial statements as of December 31, 2024, reflect a total receivables balance of $2.53 million, of which $2.19 million is attributable to credit card transactions generated by the iGenius subsidiary. The disputed amount held by one processor and its clearing bank totals approximately $1.87 million.
**
📰 Aggiornamenti e Notizie Correlate
(aggiornato al 17/04/2026)1. FTC asks court to hold payment processor Cliq in contempt - Finextra Research — Fri, 16 Jan 2026 18:58:00 GMT
FTC asks court to hold payment processor Cliq in contempt. Image 2: Download Finextra Pro. * Image 3: Download Finextra Pro. News and resources on regulation, compliance, legal and governance issues for banks and fintechs. 4. FTC asks court to hold payment processor Cliq in contempt. FTC asks court …2. Spirit Airlines Borrows $275M, Extends Credit Card Deal - Aviation Week Network — Fri, 22 Aug 2025 19:38:18 GMT
Skip to main content # Spirit Airlines Borrows $275M, Extends Credit Card Deal Christine Boynton Spirit Airlines has extended an agreement with its credit card processor; one it says gives the company long-term certainty. Christine Boynton Christine Boynton is a Senior Editor covering air transport …3. 18 Arrested in Crackdown on Credit Card Fraud Rings - SecurityWeek — Fri, 07 Nov 2025 09:13:41 GMT
Law enforcement agencies in Europe arrested 18 individuals for their suspected roles in three major credit card fraud and money laundering networks that caused losses of over €300 million (~$346 million). The websites were crafted to evade search engine indexing and could be accessed only throug…4. Exclusive | H.I.G. Collects $1.87 Billion to Back European Lower-Midmarket Companies - The Wall Street Journal — Thu, 15 Jan 2026 11:00:00 GMT
Private Equity. This copy is for your personal, non-commercial use only. For non-personal use or to order multiple copies, please contact. https://www.wsj.com/articles/h-i-g-collects-1-87-billion-to-back-european-lower-midmarket-companies-1224377c. # H.I.G. Collects $1.87 Billion to Back European …
5. Spot silver crosses $80 for the first time - TradingView — Track All Markets — Sun, 28 Dec 2025 23:45:27 GMT
Image 2: ReutersImage 3: Reuters. Image 5 Dow Jones Newswires Sign in to read exclusive news. Image 6 Dow Jones Newswires Sign in to read exclusive news. Image 9 TradingView Key facts: Cardano (ADA) drops 57.3% in a year; ETF pending SEC review. Image 10 TradingView Key facts: Ethereum's Ill…6. New York AG Sues Zelle, Claims Lax Security Led to $1 Billion Consumer Fraud Losses - Insurance Journal — Thu, 14 Aug 2025 05:04:59 GMT
New York AG Sues Zelle, Claims Lax Security Led to $1 Billion Consumer Fraud Losses Image 1: Insurance Journal - Property Casualty Industry News New York AG Sues Zelle, Claims Lax Security Led to $1 Billion Consumer Fraud Losses Zelle was sued on Wednesday by New York Attorney General Letitia James,…🔗 Related Articles
- De La Rosa & Crosby preliminary injunction granted
- BixoTrade Review: 200 day ROI trading Ponzi scheme
- Carlos Wanzeler “will definitely stay in Brazil”
- BitConnect class-action lawsuit filed over $771,000 in losses
- SEC file for lift of stay in TelexFree civil case
Carlos Wanzeler