The merchant signed up three accounts in May 2013. I have reviewed the processing & lease...
contracts for all three locations. There is a note on the last page stating “Retriever to reassign lease at any time to new owner. Original CD Exchange Inc. not liable” This note is clear, if they sell the business the rep would sublease to the new owners. After reviewing all system notes the merchant has only stated they were closing the businesses not selling.
We did reach out to the rep to find out what information he could supply regarding this and here is the reps response: I've spoke to her. And I've spoke to her son [redacted] who I know on a personal level. The agreement was that we have the ability to release the new owners of the business when they sold and she never gave us this opportunity. And they opened a new business similar to what they had under a different name and they have several new first data machines and never gave us a chance at the business so that is why we haven't done anything with her machines. I did have a conversation with her and I did tell her we would assist in transferring the lease if she had no use for the machines but she opened a business called [redacted] trading company in Green Bay and we never got the chance at the business and she bought machines from first data. Also [redacted] has had my new cell number which is her son for several months and I asked him to give it to his mother so I could discuss the machines with her and I've never heard a word from her
Based on what we found in the investigation there was an agreement between the rep and merchant to sublease to new owners in the event they sold the businesses. Unfortunately the merchant has not fulfilled their end of the agreement so the rep could fulfil his end. The merchants processing accounts are closed for all three locations and the merchant will need to work with the leasing company – Lease Finance Group regarding the leases. They can be reached at [redacted]
MEGA MEDIA XCHANGE (APPLETON) [redacted]
Opened 5/2013
Closed April 2015
MEGA MEDIA XCHANGE GREENFIELD) ([redacted]
Opened 5/2013
Closed 2/2015
MEGA MEDIA XCHANGE (GREEN BAY) [redacted]
Opened 5/2013
Closed 5/2016
The merchant signed up three accounts in May 2013. I have reviewed the processing & lease...
contracts for all three locations. There is a note on the last page stating “Retriever to reassign lease at any time to new owner. Original CD Exchange Inc. not liable” This note is clear, if they sell the business the rep would sublease to the new owners. After reviewing all system notes the merchant has only stated they were closing the businesses not selling.
We did reach out to the rep to find out what information he could supply regarding this and here is the reps response: I've spoke to her. And I've spoke to her son [redacted] who I know on a personal level. The agreement was that we have the ability to release the new owners of the business when they sold and she never gave us this opportunity. And they opened a new business similar to what they had under a different name and they have several new first data machines and never gave us a chance at the business so that is why we haven't done anything with her machines. I did have a conversation with her and I did tell her we would assist in transferring the lease if she had no use for the machines but she opened a business called [redacted] trading company in Green Bay and we never got the chance at the business and she bought machines from first data. Also [redacted] has had my new cell number which is her son for several months and I asked him to give it to his mother so I could discuss the machines with her and I've never heard a word from her
Based on what we found in the investigation there was an agreement between the rep and merchant to sublease to new owners in the event they sold the businesses. Unfortunately the merchant has not fulfilled their end of the agreement so the rep could fulfil his end. The merchants processing accounts are closed for all three locations and the merchant will need to work with the leasing company – Lease Finance Group regarding the leases. They can be reached at [redacted]
MEGA MEDIA XCHANGE (APPLETON) [redacted]
Opened 5/2013
Closed April 2015
MEGA MEDIA XCHANGE GREENFIELD) ([redacted]
Opened 5/2013
Closed 2/2015
MEGA MEDIA XCHANGE (GREEN BAY) [redacted]
Opened 5/2013
Closed 5/2016