July 02, 2013


Our Shareholders will be pleased to learn that we have had a response to our submission to the Federal Trade Commission regarding AlertPay/Payza. You’ll see that they will not give information of their intended actions, in common with most other organisations we have been in touch with. The information we have sent them is now lodged within the Consumer Sentinel database where it remains accessible to law enforcement authorities worldwide.

 Federal Trade Commission middle stor




July 01, 2013


On 3rd June, 2013, Themco received an offer from a lawyer “in contact” with AlertPay/Payza that both sides to this dispute should make undertakings to end the dispute between ThemcoEKF and AlertPay/Payza, with mention of a possible contract.

The undertakings would involve cessation of our campaigns which bring to the notice of the commercial world the past case law involved and the facts about the case won by ThemcoEKF, currently under appeal in Canada. The single, simple undertaking by AlertPay/Payza would be to release the withheld funds to ThemcoEKF together with a sum to cover our legal costs, interest at 6% and an agreed sum to cover compensation for the libellous statements posted on their defamatory website including theft of photo images.


Their lawyer was asked to draw up a contract on 4th June which could be agreed by his “contact” (they still deny a client/lawyer relationship with anyone other than MH Pillars Ltd) and ThemcoEKF which would enable the dispute to be ended. After some procrastination they were put on notice that the contract would need to be available by the end of last week, Friday evening 28th June, 2013.


Not unexpectedly, no contract has been received, just a weak email from the lawyer proposing further negotiations “settling all claims between it (AlertPay, Inc) and your company, Themco EKF”. They were put on notice that the contract would now need to be available immediately, but as this is written, at 5pm (BST) on Monday 1st July, 2013, no further communication has been received.


It is therefore necessary to restart the campaigns which had been paused (on legal advice) during the prolonged negotiating period. Needless to say, the Executive Committee has been very busy during this period and many new routes of investigation and action are being progressed.

The campaign has now escalated, and although precise details cannot be placed on a public forum or blog, we can inform our members that this now includes a coordination of the various law enforcement and licensing authorities,  with especial emphasis on the “emerging markets”, Bangladesh in particular, in which Mr Patel seems to be paying inordinate interest.


We are also now looking at the criminality of various actions which have been taken by the other parties and their associates. Also, during the past few months, other persons and organisations have contacted us with information about how their funds have been allegedly illegally withheld by AlertPay/Payza and this has now been collated to form the basis of future action.


Once again our thanks go to all those who have contributed so much and who are now to re-engage with the task in hand. Membership of the Executive Committee is now by invitation only, but we are still looking for more expertise. If you have good skills which you feel might be of use please contact support, we are especially looking for further internet ability (SEO etc) and legal or para-legal proficiency.

THEMCO EKF a Co-Operative legally registered in Sweden in 2010: CEO Terry Gilder

THEMCO  EKF a Co-Operative legally registered in Sweden in 2010: CEO Terry Gilder

Our statutes follow strictly the Swedish Law relating to Economic Associations

Purpose and activities
The purpose of the Co-operative is to promote the financial interests of the members by being an autonomous association of persons who voluntarily and jointly will meet their financial, social and cultural needs and aspirations through a jointly owned and democratically controlled co-operative to obtain pensions, insurance and similar products.

THEMCO EKF bases its ethics on the traditional co-operative values such as honesty, openness, democracy and equality, expressed by the Shareholders being responsible for their own actions and in solidarity with other Shareholders without any discrimination regardless of sex, sexual orientation, ethnic origin, political affiliation or religious affiliation.

THEMCO EKF bases its values on self-help, self-responsibility, democracy, equality, justice and solidarity on the understanding that Shareholders believe in the ethical values of honesty, openness, social responsibility and caring for others.

The Registered Office of THEMCO EKF is situated in Göteborg, Sweden.

Each Shareholder is liable to pay statutory contributions and the prescribed annually fees agreed and approved at the General meetings and also comply with the Statutes and decisions of THEMCO EKF. THEMCO EKF and all Shareholders will conduct themselves in accordance with the “Rochdale’s Seven Principles” and “The Co-operative Identity

Themco EKF (Themco Ekonomiska Förening): a Co-Operative Company registered in Sweden and of Good Standing.

THEMCO EKF v. AlertPay/Payza

Approximately three years ago in 2010, our shareholders started transferring small sums of money to the co-operative to fund its projects. These transfers were made via a payment processor based in Quebec, Canada – AlertPay Inc (AP) into an existing account with AP, upgraded and renamed Themco EKF.

Themco EKF comprises 13,362 shareholders who subscribed funds to the projects and a similar number waiting to participate in the follow up projects.

When the Co-Operative reached the stage that the account was approved and had met all compliance requirements of AP, including testing the Lawyer’ Escrow Account that would receive the funds collected in the ThemcoEKF account at AP, the funds flowed in very quickly until $1.5 million had accumulated in the account at AP.

Problems with AlertPay Inc (now Payza) start

As soon as this money was in the hands of AlertPay, our problems with them started.

This became apparent when the Co-Operative tried to withdraw our money to the Lawyer’s Escrow account. Themco EKF were made to deal with AlertPay’s bogus Compliance Department, who we had previously satisfied on all their requirements.

Firoz Patel, the CEO of AlertPay, was obviously in the background orchestrating matters. To enforce the release of funds, we called upon our US Lawyer to whom the funds were to be directed.

After much heated discussion, AlertPay agreed to release $50,000.00 every two days and we managed to retrieve $500,000.00 US to the Lawyers Escrow Account…but then it stopped abruptly.

AlertPay illegally freezes the account of Themco EKF

AlertPay had ‘heard’ that there was a judgement against Themco EKF in Sweden and they took it upon themselves to freeze our account accordingly. Bear in mind that the alleged Swedish judgement was invalid in Canada. However, this did not matter so far as AP were concerned- it was a fortuitous event or as we now feel (based on evidence), a contrived event.

Trumped-up judgement

There was indeed a judgement in Sweden. However, this was a totally trumped up judgement, based around a fraudulent invoice issued by a German company that had been struck off before the fraudulent invoice was issued! The case was presented to the court by a struck off lawyer, Karl Pontus Ljunggren, who is a co-director with Firoz Patel in a number of his companies.

Themco wins in Sweden

Themco EKF spent the last two and a half years fighting the Swedish judgement in Sweden and Germany. These legal battles resulted in the Police raiding premises in Germany and France and a criminal case being brought against Stefan Kirch, the CEO of the German company who had raised the fraudulent invoice

We made it so hot for Ljunggren, that he finally withdrew the fraudulent invoice and the accompanying claim for $1,289,000.00 US.

Concerns over AlertPay going bankrupt spurs legal action in Canada

During all this time, we were fighting AlertPay in the Courts in Montreal, Canada to get them to release our money. Our Lawyers in Montreal secured a Safeguard Order in the court against AlertPay (now Payza) requiring them to pay the money, just short of $1million US, into the court for safe keeping. We had learned that AP owed $12 Million in taxes in Canada and had other cases against them outstanding. The prospect of AlertPay becoming bankrupt was a serious concern.

Evasive action from AlertPay/Firoz Patel

When the Canadian Judge called for the funds, AlertPay stated that they no longer held the money and that it was held by a financial institution in Cyprus! Interestingly, this turned out to be a company who we allege was wholly owned by Firoz Patel, CEO of AlertPay Inc, at that time or earlier.

We obtained an apostilled document from the Cyprus Companies House, stating that Firoz Patel was the sole director and sole shareholder of this €1,000 capitalized company.

This is the company to whom, allegedly, they had transferred the best part of one million USD and could therefore not comply with the Safeguard Order.

Essentially, AlertPay transferred the money belonging to Themco EKF to a Cyprus entity that belonged wholly to AlertPay’s CEO, Firoz Patel!

Ludicrous, but true.

Themco EKF CEO Terry Gilder stands firm

All this time, the management of Themco EKF, capably and steadfastly headed by Terry Gilder, have carried their shareholders with them in meticulously observing correct legal procedure through the courts in whichever country it was necessary to do so.

This, notwithstanding the fact that AlertPay/Payza/Firoz Patel did not seem to be above using every devious, conniving and obstructive trick in the book to hang on to Themco EKF shareholders’ money.

Money destined for, documented and showing in the AlertPay/Payza account of Themco EKF.

More people have money “frozen” by AlertPay/Payza

We are not the only organization to have our funds frozen, but unfortunately for AlertPay we have had the funds to fight them in the courts and the ability to carry our shareholders with us. Even so, it has not been easy. Usually, AlertPay pick HYIP transactions where they are holding all the funds. Consequently, the HYIP operators do not have the funds, or the tenacious loyalty of their members to sustain a legal challenge as we have had to do. These tactics have become a profit centre so far as AlertPay are concerned, a source of ill gotten gains and they get away with it.

Fictitious PR stunt by AlertPay

The names of AlertPay and Firoz Patel particularly, stink and would give any skunk a run for their money. Therefore, last spring they contrived a reverse take over into a dormant, non-trading UK company, after first changing its name to MH Pillars Limited.

They then proceeded to disseminate a carefully contrived PR campaign of untruths regarding the credentials of MH Pillars Limited. This was all a fictitious PR stunt, designed to fool the casual observer.

Forthwith they took on an industry-proven CEO who lasted a couple of months and replaced him with another good guy- ability wise, who lacks a sense of smell obviously or any scruples, because his co-directors are now the Patel brothers, pulling all the strings.

Hey Presto- AlertPay also changed to Payza!

Presumably to distance themselves from the less-than favourable reputation that AlertPay had by now earned for themselves, the name was also changedto Payza. However, it is still the same company, controlled by the same individuals.

Themco EKF is forced to intensify their campaign for retrieval of their money from AlertPay/Payza

We have been fighting our case against AlertPay in Canada. Now AlertPay, in common with Payza, are the trading names for MH Pillars Finance, a Canadian company. (it is these three entities, MH Pillars, AlertPay and Payza that our campaign is targeting – the Canadian entities. Now in our being accurate in identifying our adversaries in Canada, we cannot be held responsible if the same names are used by a company to mislead the public in another country, then that is their lookout.)


As stated earlier, we have carried our Shareholders with us through all these legal actions we have had to endure to recover the money of Themco EKF. But, the last straw came when Firoz Patel transferred his shareholding and his directorship in the company in Cyprus to a nominee director and shareholder who promptly transferred her shareholding and directorship to a company she owned.

The reason for these musical chairs became evident when we learned that the company in Cyprus had applied to be voluntarily wound up. Naturally, our shareholders feared for their money and a 150 strong Executive Committee was formed using all the many skills that can be found in a resource base of 13,362 shareholders.

The Patel brothers (Firoz and Ferhan) seem to consider themselves above the law

Just to demonstrate how devious and dismissive of the law these Patels and their companies are, we can tell you that their lawyers in Canada and the UK have been lambasting our campaign against our adversaries, by writing directly to us and those shareholders that they have been able to identify from usernames and e-mail addresses (or perhaps from straightforward hacking, we are not sure, but suspicious of this, since we have been advised that they have the capability to do that).

The point we want to make is that they and their Lawyers, all say that because we have brought an action in Canada before the courts that we should let that take its course and rely on the outcome. Well, that is a fat lot of use if OUR money has been “magiced” away and we cannot get at it.

Themco EKF finally wins in Canada!

On 17th May 2013 a victory, spearheaded by Terry Gilder, was won by Themco EKF, in the Montreal Superior Court to dismiss the contestations of AlertPay and giving them 30 days in which to appeal. This followed our earlier success of having the same court issue a Safeguard Order that Firoz Patel should send the near $1million to a trust account held to the order of the court.

MH Pillars Limited has always maintained that in acquiring the assets of AlertPay (Canada) in the reverse takeover, that our claim was excluded. Immediately they lost the case, a mail went out to a number of our shareholders, from MH Pillars Limited, the UK company, offering to refund them, i.e. not practicing what they preached that the outcome of the litigation should be maintained.

Cynically, they are trying to reduce the indebtedness which will reduce the debt size and possibly the interest calculation. If they have that money available, they should pay it into the court to satisfy the Safeguard Order already in existence.

Counter-attack with an attempted intimidation campaign (last kick of a dying horse?)

A virulent smear and intimidation campaign was simultaneously unleashed against Themco EKF, its CEO Terry Gilder and members of the Themco ExecutiveCommittee.

Threatening letters from a lawyer and a website containing the worst kind of personal smear and intimidation suddenly popped up on the net, bearing defamatory allegations, accusations of libel and various intimidatory threats. The authors and owners of this website are remaining in hiding behind a cloak of anonymity. However, the timing and content appears simply too co-incidental not to indicate the true instigators.

We are not guilty of libel

Our comments being libellous is not true, we are very careful not to quote anything that is not in the public domain, therefore our Lawyers say that we are not libelling our adversaries.

By way of demonstrating this fact, we enclose the case law we are relying on and as you can see, there are not many names that we could use, that are not in the Public Domain because they have broken pretty well every law in the book.

Of our own volition, we have stopped entries being made on our first Forum we started and made it read only.

Similarly, we have done the same with the Facebook page as they have, to a certain extent, served their purpose.

Below, please find the case law related to the Patels and their company activities that our researchers have found so far. (More to come, no doubt)

The links below are all in the public domain and may therefore be quoted freely. … ficate.pdf
(Canada Revenue Certificate of Assessment filed to the Ottawa Federal Court) … d_sale.pdf
(Writ of seizure in Quebec for the sum of $11,644,096.59 CAN) … tsc-cd.pdf
(Cease and Desist order correspondents include AlertPay Inc (now Payza) and Firoz Patel concerning unlicensed money transmission) … 67&mid=415
(Complaint for Forfeiture from New York Western District Court against Collect a Check inc. for the sum of $2,506,719.74 US, concerning Corporate Wealth Management, President: Firoz Patel) (See item #64 and others) … ubd&spell=
(Access to article from Montreal Gazette November 25th 2011, “AlertPay tied to drugs, kid porn “ fourth item on page.) … 04462e40d6
(Article from Montreal Gazette November 23rd 2010, AlertPay assets seized and Firoz Patel’s shares to be sold off) … ow-1931759
(Company refuses to stop handling payments for deadly drug) … l_2013.pdf
(Money Laundering & Funding Terrorism)



THEMCO Finally win in Canada, spearheaded by Terry Gilder


On 17th May 2013 a victory, spearheaded by Terry Gilder, was won by Themco EKF, in the Montreal Superior Court to dismiss the contestations of AlertPay and giving them 30 days in which to appeal.

This followed our earlier success of having the same court issue a Safeguard Order that Firoz Patel should send the near $1million to a trust account held to the order of the court.

You might recall this money was originally retained by AlertPay (yes, we have it in their own words, same leopard, same spots) using a spurious cooked up Swedish court case as an excuse. Themco have won the case in Sweden following withdrawal of falsified evidence by the other side, expenses awarded to Themco. But still the money is retained.

Within hours of the Montreal judgement it seems AlertPay/Payza/MH Pillars, as they now describe themselves, despite everything they said about not having the money any more, suddenly found themselves able to offer refunds to individuals! This in contravention of the Montreal Court judgement, in contradiction of everything they had said previously, and apparently suddenly overcoming the fact that they are unable to operate legally in the UK because they are running scared of the Financial Conduct Authority! Poor Alastair Graham, their CEO, is being used as the UK patsy in all this. Would you believe it? No, neither would we! If they haven’t got the money how can they refund it? Do you honestly think they would anyway?

Themco did manage to retrieve approximately half a million dollars from AlertPay after long wrangles and delaying tactics which meant that the Swedish case, based on false documentation, could be quoted as a reason to stop returning the other million dollars to the escrow account, where the balance is safely kept.

In all this Themco has operated within the frameworks of the various legal systems in the countries involved. We, unlike Patel, do not consider ourselves to be above the law. We have not been economical with the truth in Court. We have not proffered false evidence, which has to be withdrawn later to save embarrassment and/or contempt.

Within our cooperative of 13,000+ members is a collection of many talents. These are now fused together within the framework of our Executive Committee. We will see this matter through.

THEMCO EKF is headed by the CEO Terry Gilder

ABOUT Terry Gilder

This is a small selection taken from hundreds of testimonials about Terry Gilder from Shareholders of THEMCO EKF

I have personally known Terry Gilder for more than twenty years and have always found him to be very professional with whatever tasks have been presented to him. I can assure you that his lifestyle reflects the fact that he has never taken money from anyone.. He has suffered a number of personal financial losses by scammers and supposed “gurus” and therefore is ever vigilant in trying to recover this money and help others.   Brianpx/ executive committee

It was through reading his blog that I got to know Terry Gilder. As English is not my first language I found his style of writing  and sense of humour understandable.  It was me who persuaded him to join Quatro and he has never let me forget it.   ianke, Director Themco EKF

When he promised to be totally transparent with the affairs of Themco I thought, yes I have heard that before. But here we are three years down thetrack and he has never missed a News update at the end of the week and I cannot wait to read them.Zhinderella

BRILLIANT, WONDERFUL new audio update !!!!!  …and what a thoroughly nice, caring [and so professional !]  man Terry is !! ..I’m DEEPLY appreciative of what Terry Gilder and the rest of the team are doing for we shareholders !!!  bowfell

Over these years , I have turned into a great admirer of the style and nuance of the Themco Newsletters . Members who have been reading the newsletters will surely agree that some of these exude literary brilliance ! How I wish the writer ventured into the world of real journalism . Maybe he is already into it, but we are yet to know. I have often been prompted to send in my compliments and Themco has humbly reciprocated.That’s Themco  flowermaker

You have to get up pretty early to start work before Terry Gilder, and stay up late to keep in step with him. zizadk             

Another expression of gratitude to the TEAM at Themco. Whilst on the outside of proceedings, one gets an overwhelming feeling of careful planning, honest and straightforward intent,a very professional aptitude, and big lashings of goodwill. And it is clear, also, huge input and commitment, to the task as outlined from the start. Not forgetting the superb support. One of the very few operations I have been involved in, which displays such continuing efforts to move the project forward to completion. Thanking you for all the input, communication, patience, and resoluteness. In this day and age of cut corners and (usual) fraud/poor sense of financial and ethical
responsibility…it is BLOODY MARVELLOUS. All this just is apparent, to anyone with a sense of discernment, so thank you to all. Really, really appreciated.3 Cheers!!!!!  Denishe