iPayment Inc’s Former Vendor Takes the 5th

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According to court records, former iPayment vendor Rahul Alim CEO of Success Marketing Solutions invoked his right against self-incrimination (“took the 5th”) when questioned by Attorneys for Prudential Payment Systems, Inc., and its CEO Aaron Nasseh.

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Mr. Alim asserted his right against self-incrimination (5th amendment) privilege when questioned"

Prudential Payment Systems announced today that its attorney concluded the deposition of former iPayment vendor Success Marketing Solutions and its CEO Rahul Alim, in connection with the ongoing lawsuits between iPayment and Prudential Payment Systems and its CEO Aaron Nasseh.

According to court documents for case number BC509053, Los Angeles Superior Court, Mr. Alim asserted his right against self-incrimination (5th amendment) privilege when questioned by Prudential’s Attorney Mr. Sagar Parikh of Beverly Hills Law Corp., PC. Mr. Alim refused to answer any questions concerning any of the allegations surrounding iPayment or its Executives.

The claims by Prudential and Nasseh alleges multiple causes of action against iPayment, including breach of contract claims, breach of the covenant of good faith and fair dealing, intentional misrepresentation, and intentional negligence, among others.

It further alleges that iPayment has failed to pay Nasseh and Prudential approximately $35,000 per month in residuals since March 2013, and that iPayment has failed to pay Nasseh approximately $750,000 in commissions and bonuses for the time he served as the Vice President of Sales at iPayment. Nasseh resigned on November 1st, 2012.

Attorneys for Prudential and Mr. Nasseh are in the process of scheduling the deposition of iPayment’s CEO Carl Grimstad, its CFO Mark Monaco and its Assistant Vice President Jonathan Skarie. Mr. Skarie was in charge of the residual department during Mr. Nasseh's employment at iPayment.

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Natalee Harter
Finical, Inc.
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