Finally, the authorities have stepped in". Here's mail we received a few days ago

From: "Do not reply"
Date: 20 Dec 2006 09:15:22 -0500
To: "xxx yyy"

Dear xxx yyy:

Studiopay/Studiotraffic is the subject of an ongoing investigation by the FBI and Onondaga County Sheriffs Department. Investigation of this matter has developed information that you have had financial transactions with one, or both, of these companies. If you have been victimized by either of these companies please file a complaint with the Internet Crime Complaint Center at the following website:

http://www.ic3.gov/

Please reference Studiopay as the subject of the investigation when filing your complaint. Provide as much detail as possible pertaining to monies invested, individuals contacted, method of contact (telephone, mail, E-mail etc...), amounts, and dates of payment and any amounts received from Studiopay. If possible, include dates of contact, the Studiopay employees contacted and brief summaries of the conversations.
Just for info. The bank Studio used, Solvay Bank, is located in Onondaga County, New York. We did a wire transfer to StudioPay through the bank, we suppose is how they located us.
Guess we were fortunate than most, for we received about half our investment back, though the remainder is still quite a sum
And yes, we will be filing the complaint. Nothing to hide here