Consumer complaint received 2025-01-17 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Incorrect information on your report — Information belongs to someone else
Company: UPGRADE, INC.
State: CA

Complaint narrative:
During the month of XXXX and XXXX XXXX XXXX XXXX XXXX was introduced to an individual who claimed to be an expert on XXXX ( XXXX  ) trading / platform, went to XXXX studied Finance and was a XXXX XXXX for a XXXX  ( XXXX XXXX ) working with an analyst team ( who she pays ) to analyze data Nodes, and historical data using AI ( Artificial Intelligence ) data, to improve the profit probability ( avoid risk or increase confidence ). They have a sophisticated software embedded into a known App ( XXXX XXXX ), which is still active today. They even provided training sessions. XXXX XXXX of all this is it was sophisticated but all a fake. The XXXX of realization was when it was time to withdraw the funds. They wouldn't return or withdraw any of the funds and gave excuses and delay tactics to avoid paying the money back ( XXXX ). They tacked on XXXX Gains tax, fees, even had to pay for a fee if the withdraw was above a certain limit, since they even pretended to show that they used their own money to invest to make it look legitimate, which it wasn't since they controlled the software and created fake numbers ( editable ) to look like your local bank app. Also, when you google the XXXX XXXX Platform, it showed ( XXXX XXXX XXXX ) that it was a legitimate trading platform but the downside was it was unregulated. 

In efforts to regain my personal investment, the Scammers scammed my XXXX account and my life savings, which equated to {$1.00} XXXX Dollars. It's worth more because it was compounding annually during the course of my life. Before this even started, I called my XXXX XXXX XXXX ( XXXX ) and told him what I was happening. He claimed it was a scam but didn't do anything or emphasize the severity. I was told by other Financial Advisors ( XXXX ) that he was supposed to notify the XXXX XXXX team in efforts to check it out before making any withdrawals since he was a fiduciary. Instead, he gave me the phone number to the XXXX transaction team. 

Since the software looked very sophisticated ( advanced ) which is still on my phone, it had features similar to XXXX bank app and stock exchange trading chart and platform. For those that are familiar with XXXX or XXXX, you are required to provide information bank account numbers for deposits/withdraws, and your Social Security numbers to report to the IRS. Which seemed all legitimate. 

The Scammers/Fraudsters did acknowledge that I had outstanding credit, which was surprising that they even knew.The Scammers/Fraudsters requested personal information from me, which they claim was required. They stated that the request was to show proof of my drivers license, proof of income, paystubs, XXXX 's etc. which seemed harmless at the time but I did not realize they were using my information to take out loans. At the time, I believed it was part of the process of getting my money back, which they claimed to be the outcome but it was all a lie to steal from me and the banks. Since I thought it was part of the process, they directed me to do and say things where they convinced me was part of the process. 

Today, with what I know now, if the banks personally made a real phone call to me/recipient bank ( fraud team ) and declined the transaction as a preventative measure, it would be difficult and would have stopped any transaction or be put on hold for XXXX to 3 days, the Scammers/ Fraudsters would be in a different line of business. The fact that everything is done with a Smart Phone App, they told me later that it can be hacked including wire transfers and switching IP addresses like phone numbers. The challenge for them is to find victims that have money in a bank, savings or retirement account that's accessible on an App or desktop. I believe that there is no security that can stop these Scammers or Fraudsters today. All or any mechanical devise can be hacked. Banks should go the extra mile to first decline the transaction then validate the transaction to avoid issues in the future and have a XXXX to 3 day waiting period to stop immediate transactions.

Company response to consumer: Closed with explanation