Consumer complaint received 2024-05-20
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: NAVY FEDERAL CREDIT UNION (VT)

In XXXX I paid {$2500.00} to be a part of the XXXX XXXX XXXX - a XXXX group for entreprenuers. XXXX was a guest presenter and a money mindset coach and touted as a financial guru by multiple women in this group. Some of these women began working with XXXX right away with a program that guaranteed returns. One woman inparticular XXXX XXXX showed her success working with him by sharing photos of her many vacations, evenings with XXXX XXXX and XXXX XXXX. Following this many others from this group joined XXXX 's program throughout the year and I signed a contract ( after getting answers to my questions that provided relief that while the money was a lot to get started, a contracted {$10000.00} it came with a turn around of XXXX NET by the end of the first year. With questions about worst case scenario I was told that XXXX would buy my store back from me, that I owned the stores and that I could in theory have somebody else manage them. I signed a contract with XXXX XX/XX/XXXX. Shortly after paying XXXX the XXXX he told me I needed to fund the stores he was setting up for me. It was a bit unclear how this all worked and I was reassured at every stage that things were in transition ( my best understanding was that XXXX just hired a team because he could no longer manage it all himself and therefore the team was getting caught up to speed. ) This was the reason, I believed, I was so involved at the beginning- ie. though they were to handle everything other than a few administrative things at the beginning- it was why I had to track all of my own accounts ... .except for that never changed. I was told to get as much money to invest early on because it got harder with time. So I did. The funding took a few months and on XX/XX/XXXX XXXX XXXX charge my NFCU credit card for {$5000.00} using his XXXX merchant name and {$4000.00} using his merchant name XXXX. This was said to be for ecommerce- specifically my XXXX  store. Though again, " everything 's included '' it really was not. I began having concerns quite soon after I approved the last big of funding ( totalling XXXX in debt on multiple credit cards at this point with XXXX remaining on one card- for what they said would be used later on. ) All of my concerns weren't reassured and they went from reassuring me that things would be happening soon, to changing all of the terms I had agreed to ( they no longer were able to pay my monthly minimums- though agreed to until i began generating XXXX/month, they claimed that they had been the victims of fraud themselves and therefore i would not be paid until they won lawsuits. XXXX began threatening myself and others that he would sue us if we were to take any action against him. His team became passive aggressive when I refused to go for more funding, they claimed that they had no money to buyback my stores as promised and ultimately that I couldn't actually operate my stores alone. ) Early on I helped set up my XXXX store but then could not find it as active and saw only a few items ever added to the page- still not active. I had to alert them that it looked inactive... but that never changed. Eventually it was closed altogether for being noncompliant with policy and I had not received any returns, as contracted. It seemed clear to me that XXXX XXXX and his team did not provide a service, nor ever intended to meet the terms of my contract. By XX/XX/XXXX they ( XXXX 's team ) told me via our primary mode of communication that there was no way that they would meet the contracted XXXX by the end of the year. EssentIally it was not their fault and there were not willing to do anything about it. I offered/requested financial mediation to why they did not respond. I began my credit card disputes on many different accounts in XXXX of XXXX. XXXX had split my funds using multiple merchant names on each card to make each dispute an individual claim, both confusing and time consuming for myself AND the banks. NFCU denied my claim for a dispute. I called and asked to open a dispute with these circumstances and they said that I could not. The charges were over a year old and they refused to open a dispute. I asked for a supervisor but ultimately they said a dispute couldn't be opened- regardless of the circumstances of my case. I have continued to get bills and offers from Navy federal credit union since attempted to dispute these claims which shows how irresponsible they have been as an institution, in my not so humble opinion. I am a responsible person. A hard worker and financially I have always repaid my debts and been held accountable for my choices, however, near the year mark of my contract date ( XX/XX/XXXX, XXXX the date which I felt I needed to wait to submit claims that the contract was not made to be compliant ) I learned through other members that XXXX XXXX was also known as XXXX XXXX and had been in XXXX  in the XXXX for scamming churchgoers. If NFCU and the other banks did a quick search they could see that this is a fraudster who has recreated his scam to target entrepreneurs and particularly health and wellness entrepreneurs who are open to holistic practices- such as manifestation. He has positioned himself as a professional in the financial world having written for forbes, entrepreneur, being on countless news shows, podcasts and presenting himself as a successful business owner. He has over 25 people who have experienced this fraud and lost hundreds of thousands of dollars. I know of 1 in current litigation with him. I know of countless people terrified of him and unwilling to speak out. A search by the FDIC could change that .... he and his many businesses have multiple disputes both from myself and others and if somebody would take the time to coordinate this search, I, a XXXX XXXX in XXXX Vermont committed to the betterment of society and contributing the the economy through hard work and grit, as well as many other genuinely good people who find some resolve to these hardships that this awful man has designed to better only himself. He is still out there marketing his programs for passive income to others and this will not stop unless he lacks the resources ( aka- my money as well as that of others ) to sustain the lifestyle he presents, which is one of luxury all due to the risks he takes and the money mindset he holds, which he uses to manipulate others into adopting, nonetheless, through giving him significant amounts of money. Please investigate my case, search XXXX XXXX XXXX XXXX XXXX and his multiple businesses and hold him accountable for his scamming activity. This is a matter of consumer protection and one that I feel banks need to take seriously and the FDIC should be aware of. I have a plethora of documentation and a XXXX drive folder I am happy to provide upon request. The other banks involved in my case are XXXX, XXXX XXXX  ( currently trying to get money back from XXXX bank after corporate fraud favored with me ), XXXX. Many have favored with me while some are pending- I am happy to share that information as well. Thanks for your consideration.