Consumer complaint received 2024-02-15
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NJ)

Theft by misrepresentation. XXXX XXXX and XXXX XXXX called and texted me through XXXX encouraging me to try trading with them through XXXX XXXX, the investment opportunity was ripe timing, a bull market in XXXX. I asked how I was invited, super curious as my husband, XXXX XXXX XXXX, was XXXX XXXX of XXXX XXXX XXXX XXXX XXXX. XXXX XXXX, who is acclaimed investor with decades of excellent work ( I XXXX him to confirm this ) knew private information, for example, that XXXX and I were expecting our XXXX child at the time of his death. XXXX asked me to download XXXX XXXX trading platform and link The XXXX XXXX XXXX as the brokerage firm. I was a member of " TXXXX XXXX XXXX XXXX XXXX '' Trading group and I could see the group members money growing with their trading signals. Every time signal was correct, which made me confident to deposit more money through wire as I was seeing the account growing and I was profiting. The trading signals were given privately as XXXX would base my lot size on my account. There would be so much chat about US economy and every trading signal was around a big economic data like XXXX meeting, XXXX XXXX XXXX, XXXX, jobless claims or any global news, which made it so real and I felt they knew what they are doing and knowledgeable about the current market conditions. Also, XXXX XXXX would address the group once a week and give in depth market analysis and research. He seemed very professional and knowledgeable about every sector including the prediction of XXXX movement. I saw group members wiring more money to make big profits. They talked about using all savings, taking equity lines, loan against XXXX, borrowing money from family and friends. Sometimes group members showed profits in over 1 mil and lot sizes in thousands, which made me feel confident to bring in more capital for bigger profits. They talked about using all savings, taking equity lines, loan against XXXX, borrowing money from family and friends. Sometimes they showed profits in over XXXX XXXX and lot sizes in thousands, which made me feel to bring in more capital for bigger profits. By this time, I had already invested XXXX, which was from a whole life insurance policy loan and my personal account from XX/XX/XXXX Victims Compensation Fund. XXXX continues today to encourage to take loans on my home, as this is a small window of opportunity to make a fortune. My XXXX XXXX  grew to {$2.00} XXXX FROM MY DEPOSITS TOTALING {$760000.00}. On XX/XX/XXXX, I submitted online requesXXXX XXXX to withdraw, as I am due to begin payment of the XXXX XXXX XXXX loan XX/XX/XXXX. I received email from XXXX that I can not withdraw till I pay taxes in full to them, so they can pay the taxes to IRS on my behalf. I instructed them to withdraw the tax money from m y XXXX XXXX. For that they said, they can not do and it needs to be new money wired to XXXX XXXX first, sent me info to wire to another bank, and then they will allow me to withdraw money. 

The chat between group members was deactivated on XX/XX/XXXX. I am in continuous contact with XXXX who repeats - Pay taxes. I said this was never brought up initially and sent her the text that shows she never told me that I would be wiring money to pay taxes, I was told taxes would be paid by XXXX. The policy of XXXX XXXX is that clients must clear your tax obligation before withdrawing, though there is no mention of this on the website. Every time I would reach out XXXX, they would repeatedly ask me to pay taxes and also sometimes threatening to liquidate our funds and freeze our account for non-compliance. By this time, I realized that it is a scam and the company is a fraud. 

Wires From my Bank of America Personal Checking : XX/XX/XXXX : {$30000.00} to XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX XXXX ) XX/XX/XXXX : {$15000.00} to XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX XXXX ) XX/XX/XXXX : {$20000.00} to XXXX XXXX XXXX Wires From my Bank of America XXXX XXXX XXXX Account for XXXX XXXX XXXX XXXX, XXXX : XX/XX/XXXX : {$180000.00} to XXXX, XXXX ( XXXX XXXX  ) XX/XX/XXXX : {$220000.00} to XXXX, XXXX ( XXXX XXXX ) XX/XX/XXXX : {$300000.00} to XXXX XXXX XXXX XXXX ( XXXX ) DETAILED INFO : XX/XX/XXXX {$30000.00} XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX XXXXk ) XXXX XXXX XXXX XXXX, XXXX, GA XXXX Bank of America , XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX NY XXXX Recipient Acct # XXXX XX/XX/XXXX {$15000.00} XXXX XXXX EXXXX XXXX XXXX ( XXXX XXXX XXXX ) XXXX XXXX XXXX XXXX, XXXX XXXX GA XXXX Bank of America , XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, NY XXXX Recipient Acct # XXXX XX/XX/XXXX {$20000.00} XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX XXXX ) XXXX XXXX XXXX XXXX, XXXX, GA XXXX Bank of America , XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, NY XXXX Recipient Acct XXXX XXXX XX/XX/XXXX {$20000.00} XXXX XXXX XXXX  Beneficiary Address : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, CA XXXX Beneficiary Account Number : XXXX XXXX ROUTING Number : XXXX Bank Name : XXXX XXXX XXXX XXXX ( XXXX ) XXXX Bank Address : XXXX XXXX XXXX, XXXX XXXX XXXX CA XXXX XX/XX/XXXX {$180000.00} XXXX, XXXX Beneficiary Acct No XXXX XXXX Bank Routing No : XXXX Bank Routing/Swift Code : XXXX Bank Name : XXXX XXXX Address : XXXX XXXX XXXX XXXXXXXX XXXX XXXX, NY XXXX XX/XX/XXXX {$220000.00} XXXX XXXX XXXX Beneficiary Acct No : XXXX Bank Routing No : XXXX Bank Routing/Swift Code : XXXX Bank Name : XXXX XXXX Address : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XX/XX/XXXX {$300000.00} XXXX XXXX XXXX XXXXXXXX Beneficiary Address : XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX Beneficiary Acct No XXXX XXXX XXXX Routing No : XXXX Bank Name : XXXX XXXX Swift Code ( XXXX  ) : XXXX Bank Address : XXXX XXXX XXXX, XXXX XXXX, NY XXXX Autorities Notified XXXX XX/XX/XXXX : Form TCR Confirmation Number : XXXX XX/XX/XXXX : FTC Report number : XXXX XX/XX/XXXX and XX/XX/XXXX : IC3 Complaint made XX/XX/XXXX, ( updated XX/XX/XXXX ) XX/XX/XXXX : XXXX XXXX, NJ POLICE REPORT # XXXX XX/XX/XXXX : CFTC Complaint Confirmation : XXXX