A leaked 2012 agreement exposes Roman Balanko's story about how $13.1 million in stolen Zeek Rewards funds moved through his payment processing network—and it doesn't add up.
Balanko has told the Zeek Receivership that he was merely the CEO of PaymentWorld LLC in the US and had no connection to the money trail. He claims PaymentWorld LLC and PaymentWorld Limited in Hong Kong operated as separate entities with no authority over each other. This distinction matters because it would shield him from responsibility for the $13.1 million the Zeek Receiver is trying to recover.
According to Balanko's version, the money went from Zeek Rewards to Rex Ventures Group, then to Payza, then to PaymentWorld SRL in Moldova. After the SEC shut down Zeek Rewards, PaymentWorld SRL sent the funds to Tusar Bank in Russia. Balanko maintains PaymentWorld LLC only oversaw the transaction and never controlled the funds.
The problem is the paper trail contradicts him.
A 2012 Service Agent agreement shows Balanko signed off as the sole Principal of PaymentWorld Limited in Hong Kong. That alone undermines his claim of separation between the US and Hong Kong operations.
But there's more. Balanko has also claimed PaymentWorld LLC only ever had agreements with PaymentWorld Limited, with no direct contractual relationship to either Victoriabank or Tusar Bank. He said the chain worked like this: PW-USA contracted with PW-HK, who contracted with PW-SRL, who contracted with Victoriabank.
A newly leaked agreement dated May 15, 2012—three months before the SEC shut down Zeek Rewards—demolishes that account. The document is a direct agreement between PaymentWorld SRL in Moldova and PaymentWorld LLC in the USA.
The agreement states the two parties wanted PaymentWorld LLC to provide customer service, risk management, underwriting and payment processing services for merchants designated by both PaymentWorld SRL and PaymentWorld LLC. PaymentWorld LLC, as the servicer, would provide payment services to each merchant under the agreement's terms.
The agreement is signed by Roman Balanko as CEO of PaymentWorld LLC and Sergii Ganzha as Director of PaymentWorld SRL.
Whether Zeek Rewards was listed as one of the merchants in this agreement remains unclear. What is clear is that despite Balanko's sworn statements, PaymentWorld LLC and PaymentWorld SRL had a direct contractual relationship before Zeek Rewards collapsed.
That puts Balanko squarely in control of the funds Payza deposited into PaymentWorld SRL. Whether he routed them through Hong Kong first doesn't change the fact that as CEO of PaymentWorld LLC, he signed an agreement to process payments for the operation that received the stolen money.
🤖 Quick Answer
What does the leaked 2012 agreement reveal about Roman Balanko's PaymentWorld claims?
The agreement contradicts Balanko's assertion that PaymentWorld LLC in the US and PaymentWorld Limited in Hong Kong operated independently. Documentation shows interconnected operations regarding the $13.1 million in stolen Zeek Rewards funds, suggesting Balanko maintained control over the international payment processing network despite claiming separation between entities.
How did Balanko describe the flow of stolen Zeek Rewards funds?
According to Balanko's account to the Zeek Receivership, the $13.1 million moved sequentially from Zeek Rewards to Rex Ventures Group, then to Payza, subsequently to PaymentWorld SRL in Moldova, and finally to additional destinations after SEC intervention shut down Zeek Rewards operations.
**What distinction does Balanko claim about
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