First and foremost I am a novice when it comes to running a business
and when I look back in hindsight should have been more cautious, but there was not any alarm why I should have. Last month I processed roughly $455K in credit card orders. Initially the orders started out small and no issues were encountered, in time the orders increased in size. During this duration I encountered one charge back initially with two more several weeks later. Long story short my credit card processor assumed that all charges were fraudulent and basically reversed all charges. He debited my account the $455K+/- and then credited it back??? He didn't have to mention this but he assumed that I was part of some scam, which for the record I wasn't because with every order that was placed equipment was sent out. Because of this activity by my credit card processor Wells Fargo closed my business accounts and my personal accounts as well, which my disability check is deposited into monthly on the 1st of each month from the VA. Because of this I have not been able to receive my funds because the accounts were closed. These are the same funds that I use to live on monthly.
I am an honest Marine who tries to live his life that best that he can and be a good role model for his kids after years of faithful service and injuries received. As a Marine it is universally understood that we despise two things: thieves and someone questioning our integrity. As a Marine is the only thing we have left other than memories and a big box of medals in a closet that no one cares about in the real world, nothing could send us "high and to the right" or make us irate more than this.
Then to add insult to injury he is now stating that I am required to reimburse him (the company) for these fraudulent charges which is now $395K, because I have cash reserve of $47K+/-, which would be applied to this total. What I find more interesting is the fact that I spoke with someone back east who has their own business and he said that I find that very unlike because their the ones that permitted the transaction to be processed and that this would be difficult to enforceable, since your a victim as well. He believes that his real motivation is the fact that they (the credit card processors) will lose their $47k+/- in my reserve account. Because if each of the charges is in fact fraudulent then the card company would reimburse the card holder for the fraudulent charge and credit card processor would be required to give the money back to whom ever. What concerned me was that if I didn't cooperate with him, my business and I (my name) will be put on a black list (I believe he said it was the MACS list but I'm not certain) that will not be allowed to apply for merchant services ever. For the record, I have no equipment in my possession, but what I have been able to do is stop delivery on the last order in question and have been able to retrieve 34 of 50 units which are sitting in a warehouse that I had initially sent them to.
In the process I researched the deliveries 3 layers deep. This is what happened:
I receive the order, and pay for the equipment.
I shipped the equipment to a warehouse in Colorado or Pennsylvania. UPS/FedEx
From here they were all shipped to Canada: UPS/FedEx (several locations)
From Canada they were shipped to Namibia in West Africa
I have shipping documentation that reflects the complete cycle from when I shipped them out all the way to their arrival in Africa. Each of the receiving locations were similar short-term storage warehouses, I have POC's for each location, and a list of fraudulent aliases. Additionally, all documentation because of the dollar amount was shared with my local FBI office in Los Angeles. I can provide documents of all of the above statements, and my contact with the agent that is reviewing my case.
I could use some solid advice as to what my rights are, especially if the credit card processor is speaking out of line and actually threatening me and if I am actually required by law to reimburse them if the credit card company reimburses the card holder if the charges were fraudulent.