ED Magedson – Founder
Fanbox Corp.; Mr. Michael C. Pousti, Chairman and Chief Executive Officer113 West G Street Suite 510 San Diego, CA 92101 Un 919 4th Avenue Suite 200 San Diego, , California USA
Fanbox Corp.; Mr. Michael C. Pousti, Chairman and Chief Executive Officer Ms. Amanda SchafferCo-Founder and Vice President of Software Development;Mr. Dennis ShrestaCo-Fou Fanbox Corp. is known for its I Pay Later ,IPL, technique to rip off people for their expectation to make money online. 919 4th Avenue Suite 200 San Diego, California
Fanbox, in addition to all bad stories about their polices, is also known for its almost invisible technique to rip of people from their own money. They way they do that is by offering a virtual money in access of $250 to $500 with excpectation that people will use them to advertise their own or other blogs, posts, and products, both within the Fanbox or outisde of it. A delay in cashing people's earnings for 90 days bring people to a dilemma what to do: cancel their account and all money they have earned so far or pay Fanbox processing fees as well as late payment fees from their own pocket and wait for the future possibility to get the Fanbox promised to pay.
By the time when people face this situation they might have several hundred dollars in their account, which appear from a thin air. My Fanbox account didn't do anything, no posts, no blogs, and no advertisements whatsoever. In spite of my inactivity in Fanbox, which I have done simply to test their rip-off techniques, I have 'earned' $365. I was given $500 twice in a row within days. Over $700 have been taken by Fanbox for a so-called 'utilization' - still a mystery to every member of this community of millions of people.
The cash out payments are delayed for 90 days only for a reason to force people to pay Fanbox 'processing fees' and their "late payment fees" majority of people are not even aware of. Since opening my account in July this year I was given a processing of $11 and a late payment fees of $10+$10+$5 including penalty. Let me ask everyone a question: why would you pay a single penny to anything you didn't do?
I have rejected this IPL offer right from the beginning when I open an account with the Fanbox. Still, I was given $1,000 of viral money to invest. Guess what - the Fanbox did the investment by itself and charge me with all these fees. I think, if the Fanbox can't make a proper investment, then they should quit this business and stop asking people to use their credit cards, bank accounts, and PayPal money to pay their rip-off fees they invented. Apparently, thousands of people don't see the way the Fanbox is depleting people of their bank account. It has been known (see other reports on this site) that the Fanbox even managed to conduct unauthorized withdrawal of money form members' credit cards, bank accounts, and PayPal. DO NOT GIVE FANBOX ANY PERSONAL INFORMATION, CREADIT CARD NUMBERS, OR PASSWORDS. REPLACE YOU PASSWORDS TO ACCESS YOU PAYPAL ASOP!!!
That is a Fanbox method of ripping people off. My personal opinion that the Fanbox Corp. should be tried for extortion in the court of law.
This report was posted on Ripoff Report on 10/30/2013 06:23 PM and is a permanent record located here: http://www.ripoffreport.com/r/Fanbox-Corp-Mr-Michael-C-Pousti-Chairman-and-Chief-Executive-Officer/919-4th-Avenue-Suite-200-San-Diego-California-CA-92101/Fanbox-Corp-Mr-Michael-C-Pousti-Chairman-and-Chief-Executive-Officer-Ms-Amanda-Scha-1095867. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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