Consumer complaint received 2024-01-27
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (TX)

On XX/XX/XXXX, I identified a machine ( XXXX XXXX XXXX XXXX ) on XXXX XXXX ' website, a reputable site for buying and selling large equipment. I indicated interest to purchase the machine in partnership with my cousin in XXXX. The XXXX XXXX site, as the standard process, then provided me the actual seller 's contact information as XXXX XXXX XXXX in XXXX, TN. On XX/XX/XXXX, I began corresponding with XXXX XXXX, the owner of XXXX XXXX XXXX. I had a series of communication with XXXX through email, phone calls and text messages. 

I eventually agreed to purchase the machine. I have a XXXXersonal Bank of America account, and XXXX XXXX XXXX also has a business Bank of America account, so we arranged, and I initiated transfer of {$30000.00} from my BoA account to the business BoA account on XX/XX/XXXX and XX/XX/XXXX. My cousin also initiated international wire transfer of {$50000.00} from his bank account in XXXX to the same XXXXXXXX XXXX XXXXXXXX business BoA account on XXXX XXXX, for a total purchase price of {$80000.00}. I continued in closed daily communication with XXXX XXXX, and Bank of America to ensure the purchased XXXX XXXX XXXX will be delivered as the transfers are being completed. I have documentation of all the files and communication. 

As of XXXX on XX/XX/XXXX, XXXX XXXX XXXX to me that BoA has a hold on his account for my {$30.00}, XXXX transfer and will not be available to his business until XXXX XXXX. Given that even the {$30000.00} domestic BoA to BoA transfer has been placed on hold, it was very likely the international wire transfer of {$50000.00} was also on hold by Bank of America. The machine was supposed to be delivered to the port in XXXX, MD, by XXXX on XX/XX/XXXX, to be shipped to my cousin in XXXX XXXX The machine never arrived at the port as planned and the business representative, XXXX XXXX, whom I was corresponding with, stopped communicating with me by XXXX on XX/XX/XXXX. 

On XX/XX/XXXX, as I conducted further internet research, it turned out that the bank of America business account was fraudulent, as I found out after that the XXXXXXXX XXXX XXXXXXXX business owner, XXXX XXXX, was deceased and someone was pretending to be him. Also, although the physical address on the business and Bank of America Account were the same " XXXX XXXX XXXX, XXXX, TN, XXXX, the name on the bank account appears to be different. It was run through XXXX XXXX, XXXX which appears to be located in XXXX XXXX, FL, and that business was just created in XXXX of XXXX and used to open the Bank of America account. 

I quickly notified Bank of American, and they advised me to file a Police report, before they could file a transfer claim. I filed with my local Police, called and filed a Fraud Claim with Bank of America on XXXX XX/XX/XXXX. I then called Bank of America Fraud Services on daily/weekly for status and to ensure the fraudulent account is frozen before the imposter could withdraw any of the {$80000.00} transferred. I faxed over additional document needed by the bank. I was told it will take up to 90 days for resolution of my claim. 

On XXXX XXXX when I called Bank of America, the claims specialist informed me the case was denied, however, they also found out the case was filed wrongly. Therefore, it has to be refiled correctly. Another case was filed on same day, and all the previous documentation was transferred over to new claim. I was informed it will take another 60-90 days for resolution. I continue to call on weekly basis for status. 

On XXXX XXXX, XXXX when I called, the claims specialist informed me the status of case was " sent for reconsideration on XXXX XXXX ''. And that will take up to another XXXX calendar days for resolution. 

On XXXX XXXX when I called, the claims specialist supervisor indicated that the 2nd claim was also filed wrongly, and therefore she has to refile it correctly again. I insisted on better explanation as to why claims gets filed incorrectly. The supervisor eventually stated that " session XXXX?? '' of their code indicates they are unable to file a claim for my {$30000.00} internal transfer, and therefore suggested, my two options are : 1. Go to the banking center where I made the transfer to ask what they could do to help me with in getting the money returned. 
2. Go back to the Police station to see what they could help me with in getting the money back. 

On XXXX XXXX I went to the local banking center and the banker got on the phone with the fraud claims department. After XXXX of phone discussion and transfers from department to department, the banker was frustrated. She then told me they are unable to return the money, and suggested two options : 1. Go through a Small Claims court 2. Hire an attorney to assist through a lawsuit. 

I believe the fraudulent BoA account is frozen, and the funds are still held in it. It needs a higher order and process to be released and returned to us who have been victimized.