Consumer complaint received 2024-03-22
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: NAVY FEDERAL CREDIT UNION (TX)

On XX/XX/XXXX, I was contacted by an alleged salesman from XXXX XXXX XXXX allegedly located at XXXX XXXX XXXX, XXXX, CT XXXX that the XXXX XXXX XXXX XXXX  I had inquired about through their XXXX XXXX ad was still available and that I could have the vehicle shipped to my home address for the sum of {$800.00} since it would be going on a car-hauler that would be bring many vehicles to the west part of the country. I attempted to get financing for the vehicle but because it was over 20 years old, the financial institutions, both Navy Federal Credit Union and XXXX XXXX XXXX declined to finance the vehicle. A Navy Federal Credit Union employee suggested I put {$28000.00} in a saving account at Navy Federal Credit Union then take out a pledge loan for the amount needed to purchase the XXXX XXXX XXXX XXXX I was wanting to buy. I withdrew {$28000.00} from my XXXX XXXX XXXX checking account and deposited the amount into my Navy Federal Credit Union saving account. After that, I then applied for the pledge loan in the amount of {$25000.00} which I was told was needed to be electronically transferred to the dealership 's XXXX XXXX XXXX XXXX account included in the wiring instructions sent by the salesman from XXXX XXXX XXXX. The salesman provided the following instructions : XXXX XXXX. XXXX ; Account Number : XXXX ; Account Name : XXXX XXXX XXXX ; Bank Name : XXXX XXXX ; Bank Address : XXXX XXXX XXXX, XXXX XXXX, CT XXXX ; Address : XXXX XXXX XXXX, XXXX, CT XXXX. I sat down with a Navy Federal Credit Union employee and submitted the wiring instructions to her to send the electronic transfer of funds to the bank account listed in the wiring instructions. I asked the employee if there was some sort of protection in sending these funds from Navy Federal Credit Union to a XXXX XXXX XXXX XXXX account since it was not being sent to a person outside of the banking structure as I did not know the dealership nor the dealership salesman that provided me the information. I was told that the XXXX XXXX XXXX XXXX officials had verified the information of the dealership and that I was okay in doing this. I did not sign any document giving my written consent to send the electronic transfer if these funds. On XX/XX/XXXX, at XXXX XXXX XXXX, the electronic transfer of funds in the amount of {$25000.00} was sent to Payee : XXXX XXXX XXXX at Payee Bank : XXXX XXXX XXXX XXXX XXXX with Confirmation Number : XXXX. 
The following day I contacted the salesman at XXXX XXXX XXXX via telephone at ( XXXX ) XXXX, and spoke to the salesman who told me the vehicle was being loaded onto a trailer for transport. He sent a photo of the alleged vehicle being loaded on the trailer. 
The next day I inquired about the whereabouts of the vehicle in transit and I was told it was in XXXX, KY at the time and should arrive by the following Saturday. Vehicle never arrived. I sent various secured messages to XXXX XXXX XXXX XXXX here in XXXX XXXX, Texas, after attempting to get information from the XXXX XXXX XXXX XXXX in XXXX, CT regarding the alleged dealership XXXX XXXX XXXX that was a member of that financial institution. I was told no information regarding that member could be released due to privacy issues. I then asked if they could at least verify that member has been doing business at that bank for a number of months and they refused to disclose any information related to that member. After submitting the secured messages to XXXX XXXX XXXX XXXX here in XXXX XXXX, Texas, and receiving no response, I immediately went there and spoke to the bank manager who, once again, refused to disclose any information related to the dealership member in question. I was told to go to Navy Federal Credit Union to get them to send an " alert '' to stop or attempt to recover any funds from the electronic transfer. I specifically told the bank manageXXXX at XXXX XXXX XXXX that her deliberate indifference and gross negligence in allowing this dealership to carry out fraud and theft using XXXX XXXX XXXX XXXX as a means to do so would be raised in any complaint should the funds transferred electronically be lost due to her actions or refusal to act. I went to Navy Federal Credit Union and spoke to an employee there telling her I had come from XXXX XXXX XXXX XXXX upon the bank manager 's request that I have Navy Federal Credit Union submit an " alert '' to stop or attempt to recover any funds electronically sent to XXXX XXXX XXXX in XXXX, CT. 
I was told an " alert '' had been sent to XXXX XXXX XXXX XXXX and that an attempt to stop the transfer of funds or to recover the funds would be carried out. I was also told that an investigation would be conducted by a Navy Federal Credit Union employee. I told the Navy Federal Credit Union employee that I would come and check on the status of the investigation. Today, XX/XX/XXXX, I went to Navy Federal Credit Union to speak to an employee regarding the status of the investigation and they told me the person investigating was in a meeting and would have to get back to me later. As of this date no XXXX XXXX XXXX XXXX  has arrived at my home and calls to contact the dealership or salesman have gone unanswered Today, XX/XX/XXXX. I left the facility and came home to begin this complaint.