Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #10874318

Complaint Overview

Complaint ID: 10874318

Company: Transferwise Ltd

Product: Money transfer, virtual currency, or money service

Sub-Product: International money transfer

Issue: Other transaction problem

State: Florida

ZIP Code: 32832

Date Received: 2024-11-18T12:00:00-05:00

Date Sent to Company: 2024-11-18T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I met XXXX XXXX XXXX on XX/XX/year>. Upon meeting him we had discussed the businesses that we were in. Both in finance and he mentioned he may have some clients interested in investing in our soccer team in XXXX. I set up a meeting at the XXXX XXXX in XXXX, XXXX. XXXX claimed to be an intermediary and showed up with a XXXX XXXX XXXX XXXX XXXXXXXX investor ''. They liked the facilities and requested financial documents. They executed an XXXX and we provided the documents. XXXX said the client agreed to purchase 50 % of the club for XXXX Euros and his fee would be about XXXX XXXX as the intermediary. We agreed. XXXX asked for XXXX Euros as a deposit and to arrange the clients travel. We sent a wire for XXXX USD and flew out to XXXX to meet with XXXX and his client on Saturday. We arrived Sunday and had a meeting scheduled for Monday. Monday was a XXXX XXXX holiday and he didn't receive the wire yet. So he asked we send another wire for XXXX and we would meet instead on Tuesday. We did. On Tuesday, XXXX and his client executed the purchase agreement of the 50 % of the club. However they wouldn't send a wire for XXXX XXXX without receiving the XXXX euros as they dont want to fund and we not pay their fee. So we extended our trip and met again on Wednesday. On Wednesday they received the XXXX Euros. And agreed to meet and send the XXXX XXXX down payment at the same time as we send the additional {$440000.00}. They claimed to have initiated the wire transfer and gave me a wire confirmation number. They provided me with di! erent bank details to a XXXX XXXX and my bank declined to send the wire. I asked why we couldn't send to the same place I sent the previous wires and they agreed after some back and forth. At this point they wouldn't let me leave until my wire was issued. I sent the wire and it took almost 6 hours to get the confirmation. Once they got the confirmation XXXX said he would use the restroom and he disappeared. This is when I realized something was o!. I tried calling them and no answer. I found out the wire transfer reference number was fraudulent and the scammers disappeared. The only person that replies now is XXXX, however he claims he doesn't understand what happened and that he is angry and will talk to his people. I explained to him he scammed us for XXXX and he said to give him time because his people aren't answering. I believe he's only remained in contact bc the wire hadn't arrived yet. I reported to my bank and to Wise Payments. This occurred on XX/XX/year>. I reached out to WISE 6 hours after the wire. Asked them to stop the wire. They said they would close the account and conduct an investigation. Since then I've spoken to the guys at XXXX XXXX XXXX and they claimed they didn't scam us and that they asked the bank to return our money back to us. However, WISE denied their request according to the " scammers '' and they sent me over WISE 's Final Response Letter. They asked me to try to help unfreeze the money. My bank has been in contact with them XXXX XXXX but claim wise is very vague with replies and doesn't provide much information. My bank said " We received an update, the external bank indicated that the receiving account has no funds to return and it has been closed. At this time our recall request has been denied. I sincerely, apologize for the outcome. If you wish to continue pursuing this matter it will have to be done outside of the bank as they closed the request and indicated that there are no additional steps to complete on their end. '' While this may be true that the account is closed what happened to my funds that were obtained through fraud. It seems they moved the funds to an internal account while they conduct investigations. I would like to know exactly where these funds have gone.

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