Consumer complaint received 2017-12-06
Company: TCF NATIONAL BANK
State: MN
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
On XXXX XXXX, our booking company received an email from a famous manager of XXXX based rap artists and label XXXX for a large independent label. He was pitching a touring package for XXXX XXXX that included artists our company has previously worked directly with. Everything our company checked into appeared to check out through further investigation into the legitimacy of the event. Our company received a contract for an engagement on XXXX XXXX XXXX, which was red lined/revised by our company, executed and returned to this individual. On XXXX XXXX, our company processed a {$32000.00} wire ( 25 % deposit for the event ) to this label located in XXXX, GA by TCF Bank National in XXXX, MN to the XXXX XXXX XXXX Account provided with the agreement. Our company went live with ticketing the same day ( later in the afternoon ) and within 2 hours of tickets being live and the event being public, the concert venue was contacted by an Agency out of XXXX XXXX, which is the agency representing the top billed XXXX, inquiring into why there was an event with their clients listed as performing on. The agency stated to the venue that there was no date agreed to and no event. The XXXX and XXXX of our company, contacted the direct " real '' manager of the top XXXX who we had previously set up the other two bookings through to confirm this information. During that call, this manager informed the XXXX and XXXX that the information we were given was inaccurate. We then provided the email address and phone number to the manager from which we were contacted and she confirmed that it was not the real person 's email address or phone number. We contacted the individual claiming to be this famous manager, addressing the new information we were just given and that this was not a real event and that he was impersonating another individual. He still claimed to be this person but would not take part in any conference calls with the head XXXX 's MGMT. We then reached out to TCF Bank on XXXX to see if there was any chance we could put a stop on the wire and we were informed on a conference call the account had a stop withdrawal placed on it and that the wire ( since it was still pending ) would not be sent and to expect our money back on Tuesday XXXX XXXX. On XXXX XXXX, we called back to TCF to confirm everything we were previously told and we were informed TCF did not place a hold on the wire and did allow it to be sent. We went to a local XXXX XXXX XXXX branch with all of the information for the account we had and inquired into the name of the account holder and were informed the name on account was in fact NOT the person we were under the impression we were dealing with. The XXXX XXXX XXXX branch manager advised us to file a police report which was done and that number is : XXXX which was completed at the XXXX XXXX XXXX Police Department in Minnesota. After completing that report we called the local FBI office to report this same information, as well as filing an XXXX complaint form as we were instructed by the FBI to do. 

Since all of this has taken place, we had reached out to XXXX XXXX XXXX on XXXX to inform them again this was a fraudulent account and was told XXXX XXXX XXXX could not do anything to assist us directly. TCF Bank did a wire recall on the wire on XXXX and received a message back on XXXX stating that XXXX XXXX XXXX had released the funds to the other individual. How is it possible that an account under 30 days old is able to receive and process out {$32000.00} in capital in under a business day without the bank placing any temp holds on it even without knowing it 's a fraud account? 

We were able to pull the Articles of Organization of  the company name listed on the wire instructions ( attached ) and it shows the name on the company is NOT the person we were dealing with. It also shows that the organization started on XXXX/XXXX/XXXX. Since the money was processed and taking out on XXXX, the bank allowed this to happen in under a 30 day window of the account being opened.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation