Consumer complaint received 2023-02-01
Company: WELLS FARGO & COMPANY
State: UT
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:
To whom it may concern, I purchased a drop shipping service called XXXX XXXX with my WELLS FARGO card XX/XX/XXXX. I purchased it for the amount of {$10000.00}. I found out that this company was a Ponzi Scheme when XXXX sold their business and I could no longer reach them. I reached out to Wells Fargo with this information and they referred me to file a dispute. 

I filed a dispute with them, and then I had to follow up with them after weeks of no response to find out they could not help me because I was disputing this over 120 days of purchase. I also spoke with a supervisor with absolutely no resolution. 

There are currently over XXXX people in a lawsuit with XXXXXXXX XXXX and over XXXX people with accounts on XXXX with similar stories to mine. XXXX XXXX has also been reported to the Utah Department of Commerce and is currently being investigated. 

I signed up with XXXX XXXX XX/XX/XXXX and paid {$40000.00} on XXXX different credit cards one of which was with WELLS FARGO ( this was part of their recommendation ). I was promised to have a store up and running ; products listed and sold. I was told that there wouldnt be many sales the first 3 months but after my probation period I would be making anywhere between XXXX a month. I was told that the probation period was because of XXXX strict rules. Conveniently this time frame allows XXXX to be free from people disputing charges on their credit cards because charges can not be contested past 120 days, and the customer is led to believe that it is normal not to have sales, so they dont even try until the 120 day period is up. 

XX/XX/XXXX, I called XXXXXXXX XXXX  for an update on my store and found out that they were sourcing work through a company called XXXX XXXX ; which was not told to me upfront. They then informed me of other fees I would have to pay. 

On XX/XX/XXXX I contacted XXXX through XXXX asking them if it was normal to have absolutely no sales or products listed on my account. I knew it would be slow but did not understand that I would have nothing listed. They assured me that it was normal, and I just needed to be patient. 

XX/XX/XXXX I still had no products listed or sold and my probation period should have been over. 

XX/XX/XXXX, I contacted XXXX and they told me I have to refile things that I have already done. I still had no sales or products in my XXXX store. I contact XXXX and tell them I want my money back because it has now been 5 months and absolutely nothing has been done in my store. I contacted XXXX to ask for a refund and they said they could not. 

XX/XX/XXXX, I contacted XXXX again because nothing has been done and no promised services were provided. I asked for my money back again but they would not. 

XX/XX/XXXX, I got an email from XXXX saying temporary inactive status. I contact the CEO of XXXX, XXXX XXXX, directly and tell him the problems Ive been having. I ask if he can do anything for me and he tells me I just need to wait. 

XX/XX/XXXX, I got an email stating that XXXX sold their company. 

XX/XX/XXXX, I reach out to XXXX and tell him I want my money back and no one is contacting me. He tells me that because he has sold the company he can no longer offer me a refund. 

My store is now deactivated and that is why I am filing this as fraud. Not only has XXXX run and can no longer be reached, I can not recoup any money from sales on XXXX because I can no longer be a seller on XXXX due to the misuse of rules from XXXXXXXX XXXXs. He has been reported to XXXX as well. 

Since XX/XX/XXXX XXXX XXXX has completely taken down all of his posts about XXXX XXXX. He is no longer available to contact, and has blocked me along with many other people on all social media platforms. It is clear that he has been involved in a Ponzi scheme since the sale of his company and since he has been running from clients that are still legally under contract with him. My hope is that this can be resolved with WELLS FARGO so that I can confidently use this card knowing I will be protected against criminal activity.

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