Consumer complaint received 2018-08-19
Company: WELLS FARGO & COMPANY
State: NV
Product: Credit card or prepaid 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:
I was scammed by a company in the XXXX about XX/XX/XXXX. I did not know this, at the time. They were very professional and promised that I could get my money at any time. They showed this by doing a transaction which was profitable and then sent me the money to my account with Wells Fargo Bank. They wanted me to invest more and do it again. There was no warning from the bank of the other people getting scammed by this Company and industry. I sent the money through my credit card so I would have the protection of Visa guidelines which states if product or services are not delivered, I would be entitled to get a chargeback. This rule applies to ALL COUNTRIES and I sent this to Well Fargo. To make a very long story short. Wells Fargo got me my money back. But after a few months, they said they had to send the money back because if the case went to arbitration and we lost it could cost the bank a lot of money. They also said the Visa rule didn't apply to the XXXX but they wouldn't show me where this was written. They sent the money back to them. They also said they knew they were crooks but they said they had to do it. I sent them an e-mail saying " If you send the money back to them, it's your money you are sending them. '' I also included that I didn't receive the product, A state of the art trading platform that didn't even show the current trading candle, A 24 / 7 Account Manager and they didn't follow my trading instructions. I made over 5300 trades and they made 35 where was the Account Manager? And they didn't close my account. 

The Truth In Lending Act is the federal law that gives consumers the legal right to dispute credit card charges if there is a billing error, which includes when property or services are not delivered to the consumer as agreed. Wells Fargo said the crooks accomplished this by just accepting the money. I BEG TO DIFFER!!!! 

On XXXX XX/XX/XXXX at XXXX, XXXX XXXX XXXX wrote : It has become a trust issue, I feel that you do not have my back. I text a problem with fills and not even a word. I now need to see all of my options. So until then please don't trade for me. I have been asking for you guys to trade for me for this for the life of my account until now. After the past few days I need to see if I can trust you again. Tell me how to build the trust back! 


XXXX XXXX On XXXX XX/XX/XXXX at XXXX, XXXX XXXX XXXX wrote : XXXX is the only one I trust. Will you make it where he gets the commission on this account? And can I get the final turnover number that I need to reach, and where I am sitting now the last amount is incorrect. Then I would like the updated total at weeks end. If you will do this I will agree to let XXXX trade for me, with no more than a 2 % ( of the account ) per trade. 

XXXX XXXX They traded three trades of {$10000.00}. and three more trades over {$5000.00} in five minutes They needed my permission to trade on the account. I gave permission to trade on my account with the above stipulation. No more than 2 % per trade. 

They also didnt close my account. XXXX XXXX called me on the phone trying to close my account. He wanted to send me approximately {$970.00} and close the account. Please notice that this goes against there bonus policy. I refused because it would take away my argument of no platform/business. I would be entitled to my chargeback. Wells Fargo refused to argue this as well. 
XXXX XXXX took my {$48000.00}. To {$970.00} against my stipulations. I did not authorize these trades.

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