Jason Galanis is the kind of man that proves a leopard doesn’t change his spots. He’s built his fortune with fraud.
When you get a bunch of industry guys together at a show you’ll inevitably always here someone reference “the good old days”.
And while it’s true back then we did all make good money and SEO was as easy as stuffing your page with keywords, not everything was as wonderful as some might have you believe.
This is especially the case if you were one of the suckers who had the misfortune of processing your memberships through iBill.
The mere mention of the word “iBill” to some people will make their skin crawl. People lost big with them when one day, without notice they closed their doors and didn’t pay anyone. We all got fucked and fucked hard when the new owners of the company took off with everyone’s money.
This was of course just after Forbes magazine labeled the new owner, Jason Galanis “Porn’s New King” in 2004. In the article you find out Jason is the son of “notorious white-collar scamster John Peter Galanis”. Guess the apple doesn’t really fall far from the tree, eh?
Years later, after putting screws to to adult industry with the closure of iBill, he would be arrested in a separate scheme, with cheating a Native American tribe and investors out of $60 million. He has pleaded guilty in that scheme, where he finally had to pay the piper with a 11 year sentence.
Those of course are only two of his con jobs.
The one that most people don’t know about is that Jason Galanis is one of the investors involved in Penthouse, or he was, until he got caught doing some shady shit there too.
As a result of his work with Penthouse, the US Securities and Exchange Commission ordered him to pay fines of $60,000 and prevented him for a period of 5 years from serving as officers or directors of any public company. What did he do? He got caught cooking the books or what the government officially calls “accounting fraud”.
People like Jason Galanis have plagued our industry for years and we are all so quick to forget these things and that’s how people like Jason Galanis and those like him can get back in and screw us again and again.