Crazy Stripe JV story

I let another member on BHW use my Stripe for their store for a percentage of sales since I rarely used it and it just helped me collect a few grand in monthly payments. I initially started talking to him in December and was connected to his store at the beginning of January.

Everything was going well, and by the time February hit, he was generating a few thousand/day on average. This was good; he frequently switched stores that I would manually link to every time. They were whitehat stores and practically zero disputes.

He would also push for me giving him an API key, which I denied until we worked together longer. Now that March hit, he asked again, and I agreed considering we have built a decent relationship with very few hiccups.

The day I gave him the keys, nearly every past customer I had on Stripe was charged thousands of dollars each. Within the hour, he sent me a message asking me to send him his portion of the money. When I realized the money came from all old clients, I changed the API keys and confronted him. He had some lousy excuse: it was a bug.

While Stripe blocked most of the payments for high risk(fortunately), around 15k in charges still went through. I had to go in and refund all those clients and send them an email apologizing. This just made me to look like an idiot and put my Stripe account at a huge risk of suspension. Luckily, most clients were pretty understanding.

I just figured I would share this story to help protect anyone else here who is giving out their stripe as a JV. Maybe the guy thought I wouldn't notice the money came from past clients and would think they were new orders. I don't know.

Unfortunately there are lots of bad actors looking for legit Stripe and PayPal account owners to use their accounts and burn it with shady tactics of scam, not a reliable partnership in many cases

Risky way of making money IMO. Like the chance of something like this going South are super high. I am sorry about what you had to go through OP.

Really risky you give something with your own name to someone you dont know him

Sad storry never give your own account to someone you meet only on enthernet it can end bad

RSlade
Keep all the evidence in tact.

it's been discussed already, this type of "business" is risky and potentially can be illegal.

U sure he didn't do anything illegal? ( apart from trying to defraud your clients ) what was his business niche?

People in situations like these are getting used for fraud/money laundering and etc.

good luck you notice those payments!!! is really unfortunate that he decided to take advantage of the situation people always try to take the easy way and take advantage of everyone he just close his opportunity to get helped in the future he might try the same with someone else here maybe.

Providing a merchant service, which is what you are actually doing when you offer to allow someone to use your accounts as you describe, is a banking move and not a person to person move.

Those that do that must be very light weight as they are skating on very thin ice.

Appturbo said:

RSlade
Keep all the evidence in tact.

it's been discussed already, this type of "business" is risky and potentially can be illegal.

U sure he didn't do anything illegal? ( apart from trying to defraud your clients ) what was his business niche?

People in situations like these are getting used for fraud/money laundering and etc.

Click to expand...

I saw all his stores before connecting me stripe and asked for multiple order/tracking numbers, which I always received.

I truly believe the guy was whitehat until he could earn my trust and attempt to scam me and my clients. It was just dropshipped items like overhyped stuffed animals etc.

That is indeed a crazy story. I think this jv poses as high risk since more and more new comers are offering it.

Also, if the member you connected it, won't be nice to make him a little star and promoting it? If not public, maybe to the mods..

Same happen bedore to me
Now chargeback coming and the Guy take money and huury go
I dont know what to do