Consumer complaint received 2023-04-28
Company: WELLS FARGO & COMPANY
State: OR
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I am writing to file a formal complaint against XXXX XXXX, XXXX XXXX XXXX XXXX, operating as XXXX XXXX XXXX, and XXXX XXXX XXXX for engaging in fraudulent activities that have caused significant financial harm to me. I request an immediate investigation into these entities and their practices to prevent further damages to others. 
XXXX XXXX contacted me through XXXX and email to seek US Representatives to facilitate their business services and collect outstanding debts from clients. I found them to be a legitimate company and decided to collaborate with them. Subsequently, I was assigned a client, XXXX XXXX, from XXXX XXXX XXXX, associated with XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX who had an outstanding debt of {$350000.00}. 
After extensive communication, XXXX XXXX issued a check for {$99000.00}, which I deposited at Wells Fargo. Bank confirmed the availability of funds before accepting the deposit. Following XXXX XXXX 's instructions, I also wired {$89000.00} to XXXX XXXX XXXX, under the name of XXXX XXXX, at XXXX XXXX ( account number : XXXX, routing number : XXXX ). However, a week later, I received a debt memo on my bank account for {$99000.00}, as the bank account from " XXXX XXXX XXXX, XXXX  XXXX XXXX '' had XXXX XXXX. 
Despite my efforts to retract the wire transfer at XXXX XXXX, I have not been able to recover the funds. I have contacted XXXX XXXX and XXXX XXXX XXXX, but have received no response. I was informed by Wells Fargo that the situation was recognized as fraud 20 months ago, and that they stated that I wouldn't " be liable, '' and " the fraud wouldn't harm '' me. Yet, I recently received a statement from Wells Fargo claiming I owe the amount again. When I inquired about this, they informed me that they have been trying for 20 months to retract the wire transfer, to which they have not. 
I received correspondence from Wells Fargo dated XX/XX/2021 regarding the Resolution of claim for your account # XXXX from Claims Assistance. 
Upon receiving this notice, I promptly contacted Wells Fargos fraud department to inquire about the nature of this claim. I spoke with XXXX XXXX and her XXXX, XXXX XXXX, on XX/XX/2021. They assured me not to worry and that the claim was under fraud review. They stated Claims Assistance was handling the matter. I then spoke with XXXX individuals from Claims Assistance who referred me to XXXX XXXX XXXX. 
On XX/XX/2021, I spoke with XXXX XXXX of XXXX XXXX XXXX. He was unable to locate details on the claim number but stated he would research the matter further. He then transferred me back to the Fraud Unit. I ultimately spoke with XXXX XXXX, a Fraud Claims Specialist, who clearly stated, this matter was deemed as fraud. There was a credit issued to your account for {$98000.00} minus a {$240.00} fee. You no longer have a balance, it is {$0.00} and we've closed the credit balance. You don't owe anything. You are not liable. 
Given the verbal and written confirmations I received from multiple Wells Fargo representatives over a month-long period in XXXX and XX/XX/2021 regarding the resolution and closure of this fraud claim, I do not understand why I am now being contacted about this matter almost 20 months later. Wells Fargo did will not provide all internal documentation that details the steps taken by Wells Fargo, if any, to recall the wire transfer initiated by the perpetrator of this fraud, XXXX XXXX of XXXX XXXX XXXX, on my account ending in XXXX ( routing number XXXX ). When I first reported this fraud, I urged Wells Fargo representatives to retract the wire transfer to no avail and was even told I would need to ask XXXX XXXX  to recall it instead. 
In summary, I received consistent and definitive confirmation from Wells Fargo that this fraud claim was resolved, my account balance was {$0.00}, and no further action was required on my part. 
Wells Fargo is a predator of the innocent.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation