CEO processing service LitePay Kenneth Azare has suspended all operations of the company and preparing for its sale.

An announcement regarding LitePay.

— Litecoin Foundation (@LTCFoundation) March 26, 2018

It turned out that Azare turned to Litecoin Foundation for additional funding, which the organization turned him down because of non-transparent budget allocation and dubious process of company management.

“We apologize for the fact that this story ends this way, and for lack of alertness”, — stated in the Litecoin Foundation.

Recall that the start processing of the service LitePay did not take place on the appointed day.