Despite all of the variables and "theories" being bandied about here, one thing is certain...
Ebay felt that their liability/culpability in harboring a company involved with shill bidding, selling altered cards and undergoing FBI Investigation was far greater than any benefit they derived from the 5% commission.
My belief is that they were tipped off, and chose to wash their hands of PWCC. Cutting off their association would be viewed as a positive, should PWCC eventually drag them into the mud of legal proceedings. Sure, eBay knew of the shill bidding much earlier in the game, so a tip-off or FBI intervention likely stimulated eBay to make its decision.
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