Consumer complaint received 2022-11-07
Company: BANK OF NEW YORK MELLON CORPORATION, THE
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
We ( My Wife ( XXXX XXXX ) & I ) were notified that we were able to monetize shares we had with our Timeshare Membership about 4 weeks ago because the XXXX XXXX XXXX was going Public which we found out just within the last 4 weeks. 
XXXX XXXX XXXX ( XXXX XXXX XXXX de XXXX XXXX Client representative which is Bank of NY Mellon ( XXXX XXXX Senior Investment Banker ) just stated that they sent two correspondences mailed to our home over the last two years which we did not receive. Once we received notification about our shares from XXXX XXXX of XXXX XXXX XXXX XXXX. and they could be monetized, we let XXXX XXXX XXXX XXXX. monetize them which supposedly they completed a week ago. XXXX XXXX stated that we did not have to put money out and we would have to pay 2.48 % after we received our transfer of the initial 89 Shares which turned to 199 shares total. XXXX XXXX tried to say we only had 89 and that we donated 110 of them but we did not do such a thing. Supposedly XXXX XXXX stated that he would file a letter to the XXXX  to see if BNY Mellon Bank ( XXXX XXXX ) could validate that we donated the 110 shares and if not then they would have to paid out the total of 199 Shares. We opened the supposedly Basic Liquidity Account ( 5 % down of the 89 Shares ) which was a Wire Transfer from us for {$8200.00} to a BNY Mellon Bank and I received a Login and Temporary Password showing our initial wire transfer amount. Then I saw the first shares amount go into the account of 45 Shares which carried our amount of {$83000.00} plus the initial wire of {$8200.00}. Then we needed to Wire Transfer another 5 % of the XXXX XXXX which was {$10000.00} to make a complete 5 % of the total XXXX shares. Now supposedly this was in our account with the account number they provided and login to see our funds. We gradually saw the entire amount of {$380000.00} in our account which we found our that all of the shares and the amount was false and that the representative for BNY Mellon Bank of New York was fake and the Brokerage Firm show that they are registered as a business in New York and active. Also I had to send them a copy of my driving license or other Government ID which I sent a copy of my Driving License and my Social Security of course was on the Application for the Basic Liquidity Account. 
I just found out on XX/XX/XXXX that I needed to file a XXXX  XXXX, so I did that so it could be reported and I could get a XXXX  Number and then send the report to Bank of NY Mellon ( XXXX XXXX ) so I can get our funds transferred to our XXXX XXXX  from the XXXX BanXXXX XXXX XXXX XXXX. It all seemed that everything was on the up and up until things like their website went down for a week and then back up with a slight different domain for the website to check our supposedly account we sent two wire transfers to open the Basic Liquidity Account ( which was 5 % of the total amount of worth for the shares {$1800.00} per share and we had 199 shares supposedly ). After the shares were monetized by their words, we would be able to transfer for which then the BNY Representative ( XXXX XXXX ) informed me that I had to complete a IRS Form XXXX and get approval from IRS so he could transfer the funds. He also stated that I needed to do a form for XXXX, XXXX and XXXX and XXXX. I consulted a XXXX  and asked them was this true and they informed me that I only had to file for XXXX ( XXXX ) prior to XX/XX/XXXX Tax Filing. I knew nothing about the Shares prior to about 4 weeks ago. I called my timeshare vacation and received a " Book Entry Number '' which now I find out that that was staged also by the Brokerage Firm ( XXXX XXXX XXXX XXXX. - XXXX XXXX and XXXX XXXX ). I finally reached out to a contact at BNY Mellon Bank of NY and they have no employee by the name of XXXX XXXX. I also found recently from a friend that sent me two articles on scams ( FBI and XXXX ) like this and one of the articles had XXXX XXXX 's name mentioned of XXXX XXXX XXXX. 
Summation : They sent us a request of a Wire Transfer representing as BNY Mellon Bank of NY to open a Basic Liquidity Account ( 5 % Down just to open the account for monetizing of funds of XXXX Shares ). It was an account of BNY but not a direct BNY Account of representation. It was setup as a pass-through therefore acting in behalf of BNY which was fake. They staged an account with Login and Password but recently we found out that it was a fake account to us, not BNY Employees and therefore we filed with the FBI and FTC. Will also file with the State of Texas Attorney General and XXXX Police as directed by the XXXX XXXX. 
Below was a direct link to get to our supposedly account of BNY. After 2 weeks, the website went down and they provided another complete domain which is listed in the second domain below and also that went down one week later. 
www.BnyPrivateInvestment.com www.privateinvestmentbny.net

Company response to consumer: Closed with explanation