Pay Pal, E-bay Ebay
Payments Reversed and About $350 Lost Selling E-gold on eBay

I had stumbled upon e-gold and saw all the different opportunities to have my money make money. I saw on eBay where they were selling e-gold for twice the value almost immediately. I figured it was a hot opportunity and decided to buy some e-gold of my own and sell it on eBay. The people buying it were from other countries, so I figured somehow it was cheaper buying gold at double the American value than it was to buy it in their own country.

There were literally 20 auctions on eBay, so I did not think twice about it being an issue. I sold my first batch of $150, making $300. I got a notice from PayPal saying someone tried to reverse the payment, and the dispute was quickly resolved in my favor. A few days later I withdrew the money from PayPal to buy more e-gold to sell on eBay. I sold $350 more, making $700. Suddenly I went onto my PayPal account and it had been put on hold.

A few others had tried to reverse payment. They informed me now that I was a high risk seller and that e-gold was not permitted to be sold on eBay. I told them the situation and they said too bad. The first buyer reversed the payment from his bank account and they deducted it from my money. My balance was at $400 now. They also gave away the remaining funds until I had virtually $0 left and 1 unresolved case.

They could not take any more money out of my account to give to these people, so the last unresolved case they put in my favor. While they claim to give seller protection, there was none. I had my account since 2004. In total I lost about $350. I later realized that the buyers of my e-gold were probably identity thieves exploiting e-gold's position on no reverse payments.

Company: Pay Pal, E-bay Ebay
Country: USA
Phone: 8882211161
Site: paypal.com

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