Inside Jas Mathur’s Alleged Multi-Million Dollar Fraud Web — And the Curious Social Shadow of Frank Biden

By Dirty.Fund Investigations

For years, attempted influencer, turned, entrepreneur Jaspreet “Jas” Mathur built an image of limitless success, private jets, celebrity friendships, and a multi-brand supplement empire.
But behind the curated lifestyle, a storm has been brewing. Court filings, whistleblower claims, and SEC disclosures paint a far darker operational reality: a network of shell companies, allegedly fraudulent payment streams, and schemes that pushed over $518,000 in losses onto financial partners.

Now, with the Lace Marketing v. Limitless X lawsuit entering a critical stage, Mathur’s world, and the circles he operated in, are under a lens far sharper than Instagram.

And standing not far from that lens is Frank Biden, photographed next to Mathur during a $700,000 celebrity party Mathur helped finance.

There is no evidence Frank Biden engaged in fraud.
But in today’s political climate, proximity alone becomes a story worth asking deeper questions about, especially as discovery threatens to unspool what really happened behind the curtain.

I. THE ALLEGED FRAUD ENGINE

According to a lawsuit filed on December 18, 2024 in Cook County (Case No. 2024L014194), Mathur and his collaborators built a multi-layered transaction laundering ecosystem using:

• Shell LLCs with fake business purposes

• “Straw” owners paid $750/month

• Fraudulent merchant applications

• Stolen or unauthorized credit card information

• Load-balancing tactics to evade fraud detection

From September to October 2023 alone:

• 1,400+ fraudulent transactions were pushed through

• 689 chargebacks hit in just 20 days

• LeisurePay and its bank partners were left holding $518,681.35 in losses

Emails cited in the lawsuit include a message from a Limitless X executive on Sept. 19, 2023:

“Find some time to go through the active accounts.”
—Arjun Walia, Exhibit material referenced in the complaint

To investigators, the “active accounts” weren’t customers, they were allegedly the shell entities feeding Limitless X’s transaction pipeline.

II. A LONG HISTORY OF ALLEGED MISCONDUCT

Mathur’s alleged behavior didn’t appear overnight.
For nearly a decade, consumer complaints, whistleblowers, and legal filings have alleged:

• deceptive “free trials” that convert into unauthorized $200+ charges

• persistent 75–90% chargeback ratios

• offshore processing disguised through U.S. shell companies

• aggressive DMCA suppression of criticism

• a 2021 Canadian court petition describing “serious concerns” about his business practices

Despite the smoke, Mathur consistently avoided criminal prosecution.
He even surfaced publicly as a victim, such as in his 2024 lawsuit against crypto promoter Travis Bott for a $1M alleged Ponzi loss.

Critics have long asked how someone with Mathur’s history kept landing new merchant accounts and partners.

The Lace Marketing case may finally begin answering that.

III. THE FRANK BIDEN CONNECTION — SOCIAL, BUT STRATEGIC?

In 2021, Floyd Mayweather hosted a lavish 44th birthday party in Florida.
Mathur wasn’t just another guest, he reportedly contributed around $700,000 to the event’s production.

Photographed at that same celebration:
Frank Biden, the President’s brother.

The photos ran in TMZ and Page Six.
They weren’t political then, but they look different now, refracted through the lens of the Lace fraud allegations and the intensifying political investigations into Biden family influence networks.

No evidence connects Frank Biden to any fraudulent acts.
But the optics matter, especially as House Oversight’s 2025 investigations ramp up and sources suggest subpoenas in Lace discovery may begin to map Mathur’s broader relationships.

Mathur knew the power of images.
And the $700K may have bought more than a party, it may have purchased proximity, access, and perceived insulation.

IV. THE $700K QUESTION — AND HOW MATHUR SURVIVED FOR SO LONG?

With the lawsuit progressing toward the discovery stage, insiders say this is where the real unraveling begins.
Because beneath the allegations lies a deeper, more troubling mystery:

How did Jas Mathur keep getting away with so many alleged scams for so many years?

• How did he repeatedly use celebrity likenesses—even Oprah’s—yet walk away each time without major legal fallout?

• How did he allegedly siphon over $500,000 from a Black-owned bank’s Illinois acquiring program with no visible DOJ investigation during the Biden administration?

• How did a man with a long trail of supplement complaints, failed campaigns, and merchant terminations keep reappearing with new banks, new accounts, new investors?

• How did a $700K seat at a celebrity party place him next to the President’s brother at the exact moment he needed reputational cover?

These are not conclusions, they are the questions discovery exists to answer.

And insiders say the documents, emails, text messages, and financial records sought in the next wave of subpoenas could finally expose whether Mathur simply gamed the system… or whether he benefited from a network of protection far larger than the fraud allegations alone suggest.

What did that $700,000 really buy?

Because fraud allegations are one thing.
Fraud allegations with political adjacency are something else entirely.

V. FOLLOW THE MONEY: WHAT THE COURT RECORDS SHOW

And now, with discovery looming, the case is poised to widen.

VI. WHAT HAPPENS NEXT

Dirty.Fund will be monitoring for:

• Subpoenas reaching deeper into Mathur’s banking and influencer networks

• Potential inquiries into whether political connections, even informal, resulted in “soft handling”

• Whether the alleged $518K loss to a Black-owned bank triggers overdue regulatory attention

• Any intersection between Mathur’s social orbit and current political investigations

Because as more insiders talk, and as more documents surface, the picture becomes clearer:

This was never just about supplements.
Never just about chargebacks.
Never just about shell companies.

This is a story about access, protection, timing, and a man who managed to stay one step ahead, until now.

The discovery stage may finally bring the answers.

Dirty.Fund will be there for every page.