source: http://www.securityfocus.com/bid/218/info

Non-administrative Imail and WS_FTP Server users may elevate their privileges to administrator for these applications by modifying a specific registry value. Once a person has obtained administrative privileges, they may use the application interface (locally) to read email, create accounts, delete accounts, etc. 

Access the following registry key "HKEY_LOCAL_MACHINE\SOFTWARE\Ipswitch\IMail\Domains\Machine_name\Users\Username"
Modify the Flag value to read "1920". 1920 gives the user account administrator permissions to IMail and WS_FTP Server.