Bogus online business transaction. is this a criminal or civil matter? is this fraud?

I can only hope that you had a business attorney draft up the purchase agreement. That would have included representations and warranties and they would have also assisted in due diligence to verify the earning claims. If, as I suspect, an attorney did not assist you and you either have no written contract or a rather poorly written contract, you are going to have problems.

Now you need to contact a local attorney to review the facts and determine options. As to if this is civil or criminal depends on the agreement and more facts. It is not possible to know just based on your brief facts. Retain an attorney quickly. Good luck.

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