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I own an online retail company and was recently a fraud victim. The client placed an order, gave me a CC number that cleared and the funds showed up in my paypal account. They then had me send a wire to a “shipping company”. Once I realized the scam I contacted my bank and paypal. Both institutions immediately froze my accounts. The rep from paypal told me all I had to do to get my account up and running again was to fax him my business license and tax number which I did. The rep didn’t call me back. I called three times and finally got through (2 weeks later). He said he had called but didn’t leave a message for “security purposes”. When I finally talked to him he told me the account cannot be unlimited until I refund all the CC transactions associated with the scam. I told him I could not do that right now since my bank account is frozen too and I am also out money from being scammed and can’t come up with those funds right away. Now I cannot use my paypal to conduct my business until all funds are repaid. He also said people can deposit into my account and paypal will keep those funds as “repayment”. I explained that this would kill my cash flow for my business and I would essentially lose the company and asked him to meet me part way on this so that I can still keep my company going. They are not willing to help me out on this. They are now basically holding my business hostage!!!! I don’t know what to do and do not know my legal rights regarding this. I thought I was doing the right thing by contacting them and alerting them to this scam. Keep in mind that at this point I still have over $5000 in my paypal account and none of the CC transactions have resulted in a “chargeback” yet. They will not let me withdraw any more $$$ and are insisting that I refund all CC payments before I can access my account again. HELP!!Similar Complaints
Posted: September 11, 2012 at 4:51 pm