WeBet had its own operations financed by Pay Sec. With this funding Andrew Murphy was in manner that is downsize and the Manila operations of WeBet were the victim. A trip to their website now allows one to pick their area, but then leads to a blank page. We have been told exactly what will happen with their clients it appears a skeleton staff is being kept on to wrap up loose ends.
The abrupt statement that the firm would no longer be funded came as a jolt. No reason was given for the funds had dried up, leaving up the actual reason for speculation.
One rumor we are hearing is that before the passing of Gary Murphy, millions of dollars went missing. It has been stated by people in the industry that there is a bounty available posted to anyone who will help recover the money that was missing by lenders.
We have received word that it’s Manila office is currently shutting down. Sources have informed us that the casino and sportsbook website laid off almost all their employees and are turning down Manila operations.
The article WeBet unexpectedly shutting down its Manila office appeared first on CalvinAyre.com.
The cause of the shutdown seems to return to the abrupt death of Gary Murphy, co-owner of Malta payments firm Pay Secure Online Ltd. (Pay Sec) together with his brother Andrew. While company continued as usual for a while, employees of Pay Sec were informed which the company was closed down, and approximately 80 staff were immediately let go, most of them located in Manila, we are told by sources. Staff were advised that funding was no longer available to keep on running the business.
This isn’t the first time Pay Sec has been involved in a controversy involving funds that are lost. In December 2018, Cubits, a cryptocurrency trading platform, declared bankruptcy and cited a February 2018 deal with Pay Sec because the reason behind their fiscal bankruptcy.
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Another source tell us that after the departure, which was known in the business of Gary, there continues to be plans to keep the business.
