Sorry but this going to be a long winded explanation.
Speedybuys, SwipeAuctions, Swipebids(?), are all Connected. As far as I can tell these sites are all some how related. They are all fraudulent. The "newspaper" AD Memphis Gazette which writes about getting 100 free bids for signing up at these sites is also a fraud. There is NO actual Memphis Gazette. Their use of various outlets such as AOL, FOX, NBC, CBS, ABC, Memphis Gazette etc. approving of them is also bogus.
I originally signed up at SpeedyBuys after reading about them in the so called "Memphis Gazette". The "Memphis Gazette" wrote that if you signed up with SpeedyBuys you could get 100 free bids. No where did it state you had to buy anything or you'd be charged for anything. When I signed up at SpeedyBuys, no where did it mention that I was going to charged for anything. I looked around on the site as far as could without signing up and saw nothing indicating a charge, let alone $149.00.
I thought I was putting up my credit card, in good faith, for future purchases, like is done with many other sites. I did not actually think I was buying or authorizing a purchase. I never received a receipt for my "purchase". Had the site indicated I was buying something, I would not have completed the transaction as I did not even have $149.00 clearance on my credit card. In fact, I only had $74.50 clearance on my credit card, so they actually settle on just robbing me for that amount and still gave me 300 bids plus the 100 "feebies".
SpeedyBuys has since changed their site to say you are buying $149.00 worth of bids (300) and will get the 100 free. This statement was not on the original site that I signed up with. I would not have made a purchase since I knew I didn't even have $149.00 clearance on my credit card. I certainly would not have spent my last $75 bucks on an auction site.
The fact that they only took what they could from my credit card until it was maxed out instead of declining the purchase is also really interesting. It suggests that they will take what ever they can get their hands on. I think they didn't decline my purchase because they didn't want me to know I was making a purchase.
I went back to the Memphis Gazette ad to reread it. Low and behold, it now reads that you can get the 100 free bids ON signup at a different site called SwipeAutions. All the same BS remained about the auction site being so great was still there but it was saying these things about a site called SwipeAuctions.
I went to the site SwipeAuctions web site. Here is where I found my proof of what I originally signed up for. Again it did not mention that you were buying anything, just like the original Speedybuy scam that has since changed their site to reflect a more honest approach.
I was going to print out all the web sites as proof of what they were doing but the sites would not print at all. Not sure if I was doing something wrong with the printing but I don't think so. So, it was a hassle but I went back to each site and did screen picts of each site.
Interestingly, the SwipeAuction site said they were doing business as BidHustle with a very weird address which I'm assuming is bogus cause it wasn't a US address. Not sure what it is.
I will be submitting all of this to my credit card company who originally called me to ask me if I authorized the purchase. This is when I found out this is all a scam because I didn't know I actually purchased anything until they notified me.
I will also be contacting my local BBB (Wisconsin), the Santa Monica, CA BBB (SpeedyBids original address:
1507 7th St, Santa Monica, Ca. 90401, this might also be bogus). I will also be contacting a local TV station and my local newspaper (Milwaukee, Wisconsin, USA) to see if they want the details so they can warn others.
I think this will continue with the Memphis Gazette ad and new bogus web sites to sucker people into the scam. Once they have robbed enough people, then they make the site "relatively" honest and start with a new name at the Memphis Gazette and anywhere else they are advertising this scam. The fact remains that none of us have a legitimate receipt for our non-purchases. I'm not sure if any of us that have been Swiped will be reimbursed but we can do our best to warn others.
I might also contact some legitimate auction sites and let them know about this fraud. They may be interested in bringing these fraud sites down because in the long run it is going to hurt their sites too. I think because people will be leery of using any auction sites if this continues.
Each day they change their "newspaper" AD Memphis Gazette promotion code ending date out a few more days. Current promo:
Use promo "swipe100ex " to get 100 bonus bids on signup! (note how it says on signup, NOT on purchase)
Promo Code Expires: Monday, September 20, 2010
If I find out additional info, I will post at this site. I'm pissed, been robbed, broke and have a lot of time on my hands. A dangerous combo.