UPDATED 10:40 P.M. EDT (U.S.A.) Clarence Busby has announced in a video that Business Ad Splash (BAS) is in a “crisis situation” and has suspended cashouts until at least Sept. 1.
Busby blamed the crisis on overpayments to members, referring to the overpayments as the “60 percent gift I am giving.”
Things just weren’t going well, Busby said.
“The finances that I want to happen for all of us are not there yet,” he said. “The business that we have put out before the world is just not [unintelligible] like we wanted to, but it’s coming.”
Busby said he recently had surgery.
It could take BAS anywhere from 60 days to 180 days to audit accounts and return to normal operations, Busby said.
AdViewGlobal (AVG), an autosurf with close ties to AdSurfDaily, also recently announced the suspension of payouts and an audit.
Andy Bowdoin, the president of ASD, once blamed troubles the firm was having on overpayments made to members.
Busby formerly was the president of Golden Panda Ad Builder. Golden Panda’s assets were seized last year as part of the ASD probe, and a federal judge today signed an order finalizing the forfeiture of more than $14 million to the U.S. government.
In court filings, Busby’s attorney referred to him as “Rev. Busby” at least 120 times. Busby referred to himself in today’s video as “Mr. Busby.”
“May God bless you,” he said, thanking people for their prayers while wrapping up the video.