The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the T1 Payments group. Sounds plausible! Pixxles Ltd is the trading name of Pixxles (www.pixxles.com), an e-money institution regulated by the Financial Conduct Authority (FCA) with reference number 927960. The T1 Payments manager Amber Fairchild established the company in October 2018 and is the controlling owner. Fairchild, too, is a Defendant in the U.S. fraud complaint filed by a former T1 Payments client (report here).
The US fraud complaint alleges that Amber Fairchild is the girlfriend of T1 Payments founder and CEO Donald Kasdon. She has been a manager in both the U.S. and U.K. entities of T1 Payments. Fairchild, who lives in Florida, is registered as an officer in T1 Payments‘ Florida branch and TGlobal Services LLC in Nevada.
The U.S. fraud lawsuit alleges the three principal individuals of T1 Payments – Donald Kasdon, his mother Debra King, and his girlfriend Amber Fairchild – fraudulently transferred the assets and business of T1 Payments to the Pixxles. T1 Payments and its Dutch partner Payvision allegedly ripped off customers and violated financial law and VISA and MasterCard compliance regulations, the complaint purports.
At Pixxles, Amber Fairchild serves as a director and CEO. The British citizen Scott Dawson is the company’s Director of Operations. Fairchild controls the company with 75% or more of the shares.
Pixxles seems not to do too well. In its balance sheet as of Oct. 31, 2020, the company shows an accumulated loss of more than GBP940,000 and burns cash. In April and June 2021, more than GBP 700,000 was injected into the company by increasing its share capital. Already in 2020, Pixxles has been given around €1M by shareholders. The main shareholder Amber Fairchild subscribed to the shares and paid for them.
