Consumer complaint received 2020-10-29
Company: WELLS FARGO & COMPANY
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
In XX/XX/XXXX I came across a gentleman by the name of XXXX XXXX of XXXX, GA who approached me and several others in a telegram group chat under the company name " XXXX '' and said that he could get small business owners or forex  traders in that group, funding, if they needed it. I inquired more about it and asked the man what is required to go about this process, because I wanted to expand my XXXX amidst the pandemic and I thought this individual could help me. He had stated that he has helped multiple entrepreneurs get XXXX XXXX and business funding and he sent me several testimonials of his previous clients who had said that he had helped fix their credit report and changed their life drastically when he got them their business funding. I believed the testimonials. On XX/XX/2020, I yelled his girlfriend XXXX XXXX, {$500.00} through my Wells Fargo Everyday Checking Account. He then told me after confirmation of the payment that he would begin working on my credit. 3 weeks later after I initially paid the man I began to see my credit score rise. I thought that what he was doing was manifesting and happening. I then inquired him what a corp was, and he told me that it was a very expensive tool that can be purchased to enable the ability to retrieve business funding from the SBA due to the EIDL that were being handed out by the government at the time. I then XXXX XXXX  his girlfriend Mrs. XXXX XXXX on XX/XX/2020 an amount of {$2500.00}, and then followed up by by wiring {$2500.00} to his XXXX XXXX  account. He provided me with the bank account routing number as well as the account number. He told me if I paid him for an " aged corp '' which would boost my credit score up very well, that he would get me $ XXXX in business funding LEGALLY. I paid him {$5000.00} USD and I never heard another word from him. I tried multiple ways of trying to contact this man through telephone, through text, even through his social media XXXX tag handle XXXX XXXXXXXX, this guy blocked me. He refuses to respond to me, however from words of mouths of friends, they see him posting pictures of himself out in XXXX XXXX XXXX having fun and living life lavishly with my money spending it on margaritas, quesadillas, and expensive jewelry. I contacted my bank WELLS FARGO to inform them of what has been going on, and I filed fraud claims on all of these charges, totaling to a whopping amount of {$5500.00} USD in total. Not a single dollar was reimbursed to me. Wells Fargo went ahead and denied all of my claims and they stated that all of the payments were made through a secure device that had my name registered on it, and when the wire transfer was attempted to be retracted and retraced, his bank, XXXX XXXX, with the account under the name " XXXX XXXX XXXX XXXX XXXX was reluctant to send the funds back. I have letters with all of these statements and results for proof. My own bank, XXXX, would not get me back my money, they stated that there is nothing they can do on their ends, and are allowing this thief, fraudster, scammer, XXXX XXXX, get away with this. I will not rest until justice is brought to this man and I will sue him in court. I want my {$5500.00} returned to me as well as be compensated for all the XXXX XXXX, XXXX, and XXXX caused by this individual. Wells Fargo held the claims open for up to 14 business days, I refiled them and pushed them for re-consideration, only to have all of them denied again. I am complaining on behalf of Wells Fargo, and XXXX XXXX XXXX XXXX, and XXXX XXXX, for failing to protect me as a consumer, and a customer. XXXX XXXX is a thief who scams people money just to lie to their face and use them for his own personal gain. The SBA and the FBI should HEAVILY investigate this person. XXXX XXXX. That is his name. he never sent me any receipt of what I purchased and I know that he did not buy me any corp, didn't work anything on my credit score, and he now has all my personal information and my SSN and he has threatened to sue me over harassing him about where my {$5500.00} is. talk about a corrupt, blackmailing, manipulative human being.

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