- Report: #586853
Complaint Review: Ocean blue credit - ocean blue bank - Rancho Cucamonga California
Reported By:
john -
Maunaloa, Hawaii, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Ocean blue credit - ocean blue bank
8333 Foothill Blvd Rancho Cucamonga, California, United States of America
Phone:
9098996662
Web:
oceanbluecredit.com
Categories:
Business Rating:
(0)
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Ocean blue credit /ocean blue bank Alex Diamond PONZI SCHEME ON CUSTOMER"S DEPOSITS Rancho Cucamonga, California
Oceanbluecredit/Oceanbluebank are websites which offer to arrange lines of
credit for a fee. The customer pays an upfront fee, and then is expected to pay
a percentage to ocean blue at the "back end", or when the credit is granted.
Ocean blue advertises in national media and on the internet. They collect the
upfront deposits and then stay in touch with the customer, continuously giving
reasons their "file" has been delayed in funding. There is never any funding.
Sooner or later the customer asks for the upfront deposit back. Ocean blue
normally sends the deposit back to avoid being charged with fraud.
There have been two offerings. One, the personal line of credit which started
in June of 2009, and two, the business line of credit which started in August, 2009
and recently was terminated the last week of March, 2010.
I tried both. I was refunded on the personal line, after I had placed a much larger
fee deposit on the business line. Ocean blue attempts to stall any reconciliation of
fees advanced by customers as long as possible. The customer is contacted by
Sandra Vasquez, who creates all kinds of reasons the alleged banks have not
funded as ocean blue originally promised.
The customer is led to believe they will be sold an "aged" corporation with
a AAA rating created by virtual postings in a process that takes 4 to 6 months
before being submitted to a bank.However, ocean blue refuses to identify
the corporation, and tells the customer that when the credit line is funded,
their name will then appear as the only signature to access the credit line. At that
point, the identity of the corporation is revealed as well as the identity of a
"guarantor" which the bank requires. The customer is not linked to the guarantor.
I asked Sandra what about default? She then spun a scenario of how ocean blue
siphons off 6 months of payments until the guarantor can be released. Without
saying how, she then alleges the customer is liable to the bank on default. No
mention is made of any notes, contracts or guarantees to be made by the
customer, or if or when that happens.
Correspondence about these matters is time consuming and the weeks drag on.
There is hope when Sandra reports some other file was funded, but always
there is a reason my file is delayed further.
Last week, I decided to raise the ante on ocean blue. I e mailed Sandra
an offer to double the back end fee if she would arrange a funding on the next
funded corporation, regardless of who might be on the customer waiting list.
I also offered to pay another up front fee for a second corporation under the
same lucrative back end fee if they could arrange it together with the first one.
Absolute silence. The company phone has a message they are suspending
any contact with anybody. Do not leave a message. It will not be answered.
Calling Alex Diamond's direct line (see above) the same thing.....Cannot
respond, do not leave a message. This is a huge contrast from the promotional
tones of these voice mails up to this point.
My speculative conclusion is, as they say, "the jig is up". It has been a ponzi
scheme the whole way. The deposit float has maxed out. It is time for Alex
and Sandra to take the money and run.
1 Updates & Rebuttals
SickAndTired
United States of AmericaOCEAN BLUE CREDIT is indeed a fraud and Alex "Diamond" has a criminal record
#2Consumer Comment
Mon, April 05, 2010
See this Rip-Off Report:
Alex "Diamond" is not his real name. He has a criminal history.
Some notes:
* Alex identified Hasan Sarwar as a separate person and co-owner of the company, but Hasan Sarwar is the same person as Alex, and even filed a separate DBA as Alexander Sarwar, which he is advertising himself as. In other words, IT IS NOT HIS REAL NAME.
PROOF: Search "Sarwar" (last name) at this site: http://acrparis.sbcounty.gov/fbn/index.html
* And most importantly, HASAN SARWAR A.K.A. ALEXANDER SARWAR HAS A CRIMINAL RECORD OF FRAUD IN THE COUNTY OF SAN BERNARDINO.
13 COUNTS OF FRAUD, INCLUDING PC476 CHECK FRAUD, PC470 FORGERY, AND PC459 BURGLARY.
PROOF: Search under "Hasan Sarwar" at this site: http://170.164.31.10/openaccess/criminal/default.asp
