Prudential Payment Systems Provides Update on iPayment Trial: iPayment Inc.’s Senior Vice President Takes the 5th

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According to court records, today former iPayment Executive Nasir Shakouri invoked his right against self-incrimination (“took the 5th”) when questioned by Attorneys for Prudential Payment Systems, Inc., and Aaron Nasseh.

Prudential Payment Systems

Prudential Payment announced today that its attorneys concluded the deposition of former iPayment, Inc. Senior Vice President Nasir Shakouri, in connection with alleged breach of contract claims filed against iPayment by Prudential Payment Systems, Inc. and its CEO Aaron Nasseh.

According to court documents for case number BC509053, Los Angeles Superior Court, Mr. Shakouri stated his name, and place of residence before asserting his right against self-incrimination (5th amendment) privilege. He refused to answer any further questions concerning any of the allegations surrounding iPayment.

"It's unfortunate that Mr. Shakouri did not answer our questions, however, he certainly has the right to exercise his 5th amendment privilege," said Aaron Morris, counsel for Prudential Payment Systems, Inc.

The complaint by Prudential and Nasseh alleges twelve 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.

The complaint alleges that iPayment has failed to pay Nasseh and Prudential approximately $35,000 per month in residuals since March 2013. Additionally, it is alleged 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.

Court records indicate that Prudential and Nasseh have scheduled a deposition for Jonathan Skarie on May 15th, 2014. Mr. Skarie served as the Assistant Vice President at iPayment, and he was also in charge of the residual department during Mr. Nasseh's employment at iPayment.

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Aaron Nasseh
Prudential Payment Systems, Inc.
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