Consumer complaint received 2026-03-10 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION

Complaint narrative:
First, I would like to apologize if my XXXX is not up to the standard. It is my fourth language and I am trying to improve everyday. In XX/XX/XXXX, XXXX XXXX XXXX from XXXX XXXX XXXX XXXX ( XXXX ), based outside XXXX, XXXX contacted me regarding a potential investment opportunity. He provided me with very appealing opportunity that is both to my heart as well as financial. According to XXXX, their investment opportunity focuses on XXXX XXXX XXXX with a long term contract with XXXX to provide accommodation for recovering patients. At the same time, since XXXX will pay them well, they proposed to share the benefit with 25 % Annual ROI for a 3 years contract. XXXX XXXX and the CEO XXXX XXXX also invited me to visit their office which was located in Reading, XXXX on my trip to XXXX which I couldn't because of time constraint. All things were looking smooth and legit. So, at the end of the XXXX, on XX/XX/XXXX to be exact, I made the transfer of funds {$17000.00} from my account in Bank of America. As promised, XXXX send my monthly XXXX for couple of months starting from XX/XX/XXXX and deduct tax to pay to XXXX under my name in XX/XX/XXXX. At the end of XX/XX/XXXX, I received an email which states XXXX is having minor cashflow problem and not to panic but to look for updates. Then, few weeks later, another company called XXXX XXXX, contacted me and said they are assigned to look after XXXX since the company went to Administration. I request explanation before my next move but they told me to join an online meeting because the number of people who fell for this scam are too many. So, on the first and second online meetings, I learnt XXXX were victims of XXXX and fell for their ponzy scheme. Then, I tried to call my bank, Bank of America, since the dispute claiming method on the app doesn't gave me enough options and said call for further. However, my call couldn't reach the bank because I live in XXXX. So, it took me couple of weeks to process my visa and come to the USA claim my dispute. I claim my dispute over the phone and look for my case for the first time however they responded " the date of your dispute with the merchant ( s ) fell outside the dispute timeframe we follow. We apologize for the inconvenience and recommend that you contact the merchant ( s ) directly ''. Believing they don't have all the necessary information and documents, I reached out to my bank for the second time with more information and documentation, however my bank responded the same mentioning timeframe. So, I felt they don't understand my request because my request wasn't about time bound, I reached out to XXXX XXXX Team, XXXX, providing recent updates and mentioning the current state of XXXX going into " Confirmed Insolvency Fraud Case ''. However, the response from my bank said " the information you provided is not sufficient evidence to support your claim and doesn't overturn our original decision ''. After Bank of America 's response, most of the victims went with an organization called XXXX, whom took their appeal to XXXX XXXX XXXX ( XXXX ) and some of the victims were able to recover their fund. Unfortunately, XXXX couldn't proceed with my appeal since my bank is off-shore and they don't have jurisdiction outside the XXXX. I already submitted my claim to XXXX with reference number RE : XXXX. For more information regarding XXXX XXXX XXXX XXXX At the same time, a media channel XXXX aired an investigative journalism based on the scam of XXXX and how sophisticated it was by bringing some of the victims. The link is provided below. XXXX XXXX XXXXXXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation