Consumer complaint received 2023-12-12
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX  XXXX XXXX Capital One Bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  Subject : Formal Complaint and Request for Investigation - XXXX XXXX Fraudulent Transaction Dear Capital One Bank Customer XXXX XXXX XXXX trust this letter finds you well. I am writing to formally register a complaint and request your immediate assistance in investigating a fraudulent transaction involving my Capital One account. The matter pertains to a deceptive entity operating under the name XXXX XXXX. 
On or about XX/XX/2022, my partner and I were enticed by an online video presentation delivered by XXXX, the purported owner of XXXX XXXX. This presentation emphatically touted the program as a risk-free investment opportunity. Subsequently, we were contacted via a webinar by XXXX XXXX XXXX, who introduced himself as a salesperson and official representative of the company. XXXX XXXX even claimed to have personally invested in XXXX XXXX 's campaigns, adding an extra layer of credibility to the venture. 
Our initial investment into XXXX XXXX amounted to {$16000.00} each, totaling {$32000.00}. 
This comprised a {$12000.00} fee for lifetime management and an additional {$4000.00} for the first month 's campaign investment, with the promise of substantial monthly returns. Over the subsequent XXXX months, we made further investments totaling {$48000.00} ( {$4000.00} each per month ). In aggregate, we have committed a substantial sum of {$80000.00} to this program. 
Crucially, XXXX XXXX had represented this program as entirely passive in nature, requiring only a monthly investment of {$4000.00} each. In return, the company assured us of monthly returns that would not only recoup our investment but also potentially yield profits of up to {$10000.00}. Regrettably, we have not witnessed returns exceeding a mere few XXXX dollars, and each month, we faithfully continued to invest an additional {$4000.00} each. 
To compound our financial burden, I was encouraged to apply for a {$16000.00} line of credit through XXXX, a recommendation made by XXXX XXXX itself. This line of credit was promptly approved, with the entire amount subsequently transferred to XXXX XXXX. The {$12000.00} was earmarked for the lifetime management fee, while the remaining {$4000.00} was designated for the initial advertising campaign investment. Enclosed, please find pertinent documentation confirming this transaction, which explicitly implicates the involvement of XXXX. 
In recent days, all communication from XXXX XXXX has abruptly ceased. Emails directed towards the company now bounce back without response. The once-promising program has now shrouded itself in darkness, and we have not received any compensation for our monthly campaign investments, let alone witnessed any returns on our substantial investment.

Company response to consumer: Closed with monetary relief