Yes. But there's a difference between a bad review and a intentional theft.
Bad review;
"This host was either too slow, or support was slow, or wasn't a good fit, so I cancelled, got my refund and moved on"
Post like those, people will jump on being apologetic, suggest a new host even though the person already moved to one, and some usual conversation. This lasts for about 20-30 posts. Sometimes the person posting is also apologetic and only wants to say the negative experience was with them, but others can use them if it works for their needs.
The missing money review;
"This host was either too slow, or support was slow, or wasn't a good fit, so I cancelled, and didn't get my refund. Where's my money?? I opened a dispute or did a charge-back and will keep complaining for my lost money"
A post like this goes on for pages. People start posting the hosts WHOIS. The OP posts chat and ticket conversations. It becomes a big mess that other will immediately take of their list as a potential host.
Both are negative, but when people start calling a company a scam and in some cases a liar, it just takes things in a complete downward spiral.