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CNBC Says "Mike South - South is the Nikki Finke of the porn industry. His blog, which is never short on opinion, is a must-read among industry insiders. His style is unique, but he is also a leading agent of change within the industry. There are few fence-sitters when it comes to opinions about South, but no one ignores him."

Recent Comments

  • Wake Up APAC A Disaster Is On The Horizon (12)
    • LurkingReader: @jilted Ty for writing this up. Re x-biz post it looks like an apology to FSC for an earlier statement. Regardless apology or...
    • jilted: Dear APAC, At your next meeting could someone pleas as Nina Hartley where all ov the money AIM took from you performers went. You...
    • Ari Bass: Geez, You guys right better articles over here than we cut throats over at the retarded porn wiki leaks.com. Good job and good article...
    • Danny Davis: You are right about that Tim. Back stabbers all over the fucking place in porn today. And the directors back stab each other for what...
    • jilted: http://www.xbiz.com/news/18686 1 APAC, i applaud your efforts here. But this solution is itself seriously flawed. You cannot just pick a...
    • jilted: I might also add, people in this industry would rather stab eachother in the back for 50 cents than work together and make a dollar.
    • jilted: I am no saint. Are there things I would do differently if I had the chance, of course. But none of that matters. The past is not going to...
    • Nick East: There are more than plenty of HIV positive males out there who are looking to hire hot HIV+ escorts!!!! And they pay top dollar too!!!...
    • Jamie Profit: Porn has one fucked up industry to try and clean up. if they ever can. Anybody want to buy some cheap swamp land in Arizona. These...
    • Danny Davis: Great Article Tim. So otherwise, most of the performers today are what you would say…Very stupid? If you are going to pay for...

Cyprus Freezes Accounts, AVN and Manwin Bank There

To make a long story short Cyprus banks are in trouble and they need bailing out by the EU.  The agreement being that Cyprus will levy a 6% charge on all accounts with under 100,000 euros and a 10% charge on all accounts over 100,000 euros.  The percentage taken will be converted to bank stock, which is virtually worthless.

Savings accounts in Cyprus have been frozen and ATMs are all empty.  The countries legislators will vote on this tomorrow and it is expected to pass.  Cypriot banks have long been tax shelters and places to hide ill gotten gains for eastern European crime syndicates.

Interestingly both Manwin and AVN are headquartered (officially) in Cyprus.  AVN’s Theo Sapoutzis is a Cypriot.

Manwin has been in the process of relocating it’s headquarters to Dublin, Ireland but they apparently still have cash assets in Cyprus.

Looks like people are going to have to look elsewhere to launder money now…..