During October, the Tradeloop Ethics Committee voted to ban two companies from the trading community.
Infinity Micro, Inc. was banned for failure to respond to the complaint (case #5045). In this case, the complainant alleged that Infinity Micro failed to process a refund after goods were returned. Since the company didn't respond, the Ethics Committee couldn't evaluate the facts of the case. Tradeloop's Ethics policy requires that all companies respond to complaints and companies that don't comply can and will be banned from the community.
xFusion Trading, LLC was also banned from Tradeloop (case #5044). The complainant charged that xFusion Trading had been paid in advance for a deal that was canceled, but failed to process a refund.
Ethics complaint #5039 involved a payment dispute over the sale and condition of laptop computers. The companies involved worked out an agreement and the Tradeloop Ethics Committee voted to Broadcast the complaint to the community for informational purposes.
One new case is still in the information-gathering stage. A non-member contacted a Tradeloop member via information in a public Broadcast. The member suspects that it could be a fraud attempt and filed a complaint. At this point, the Tradeloop staff is investigating and assembling information for the committee to review.
Remember that Tradeloop members have the option to make their Broadcasts available to Web searchers and the general public or restrict them to just Tradeloop members. We will soon launch a new "Privacy Options" page that gives you even more control over the company and contact information you share with the public and other Tradeloop members.
Learn more about the Tradeloop Ethics process and review details of other Ethics complaints at the Tradeloop Ethics blog.