It looks like someone is trying to take Soulja Boy’s money, and he isn’t having it! According to reports Love and Hip Hop Hollyowood star, Soulja Boy is being scammed for about $175,000 by Hoverboard purchasers who are using fraudulent credit cards.
Read more after the jump!
Kye || Instagram
Its pretty obvious that Soulja Boy is doing something right because by the looks of his Instagram page he’s living a pretty awesome, wealthy life. And of course that has a lot to do with the fact that he’s a successful rapper but thats not all he’s doing. Soulja boy owns his own company called “Souljaboard.” which sells those cool new HoverBoards you see all the stars floating around on.
The company has been doing great, that was until Soulja started experiencing issues with Stripe, a major online payment processing company which the rapper used to process payments for his HoverBoards.
Soulja Boy reached out to the company about three months ago saying,
“I need help all the payments are fraud,”
Continuing,
“And it sent my account to negative because they all say they weren’t authorized. please help in any way you can thanks. I don’t want to have to pay all this money because of frauds is there any way to reverse these payments and get my account to Good standing.”
According to BuzzFeed there a documents which show that in December Soulja Boy’s Stripe account held a balance of $-174,440.08. Those same documents show that from June to December more than 75% of all orders associated with that account were disputed after the fact.
In October Stripe reached out to Soulja in a email stating
“The vast majority of your negative balance is due to fraud.” Soulja Boy did sell goods other than hoverboards on his store, including shirts and caps, but several facts suggest that hoverboard sales constituted most of the sales, and most of the fraud.”
Now thats no good!
Soulja Boy isn’t the only one who had to deal with an issue like this. IO Hawk one of the most popular Hover Board companies in the U.S. currently holds a negative balance of more than $900,000 with Stripe.
Now thats crazy!
When BuzzFeed reached out to Stripe heres what they had to say,
“We can’t comment on the financial details of particular Stripe accounts for privacy reasons. Generally speaking, credit card network require merchants to limit disputed transactions to less than 1%. If a merchant’s dispute rate is above that threshold, card networks can and do enforce their limit by levying fines and, in some serious cases, refusing to allow the merchant to continue accepting credit cards at all.”
Hopefully everything works out for Soulja and his money is recovered soon!
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