Complaint Review: The London Exchange - Harvey Illinois

Attorney General Brown Obtains Guilty Plea from Individual who Sold Phony Trips to Cuba

Santa Ana - Attorney General Edmund G. Brown Jr. announced that Ralph Adam Rendon, 33, of Orange County, was sentenced to five years in state prison yesterday for selling $154,000 in "phony travel packages" to senior citizens seeking to visit Cuba for religious and cultural purposes.

Rendon pleaded guilty to one count of Grand Theft. As part of the plea agreement, Rendon was ordered to pay $154,000 in restitution.

"This individual sold $154,000 of phony travel packages, ripping off senior citizens who wanted to go to Cuba for religious and cultural purposes," Brown said. "In reality, Rendon never arranged for travel to Cuba, but used the funds to purchase a Mercedes, pay his rent and hire a divorce lawyer."

Brown's criminal complaint, filed in Orange County Superior Court last year, contends that in 2006 Rendon began advertising his travel agency, USA to Cuba, in religious magazines. USA to Cuba purportedly arranged trips for Jewish and Greek Orthodox Americans who wanted to visit members of their faith in Cuba.

Approximately 41 individuals, including 20 senior citizens, responded to the ads and purchased travel packages from Rendon. About half the victims were Californians. The remainder came from New York, Texas, Michigan, Illinois, Florida, Wyoming, Nevada, Arizona and Utah.

Victims paid up to $4,000 for the travel. Once Rendon received payment, he falsely informed his victims that the trip had been cancelled by the U.S. Treasury Department. Rendon ignored demands for refunds.

In June 2006, investigators with Brown's office and the Santa Ana Police Department launched an investigation, interviewed victims and conducted an audit of Rendon's financial records. The audit revealed that he used his customers' money to pay for personal expenses.

The case was referred for prosecution and Rendon was arrested April 17, 2008. While out on bail, Rendon started a second company, London Exchange, which charged customers $500 to apply for credit cards that did not exist. Brown had Rendon arrested last month on suspicion of grand theft and forgery. As part of the plea agreement, charges related to this matter will not be pursued.

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you took hundreds from myself and my clients and you were the president of the company, there is no way you could have been MIS INFORMED.  You are just as guilty as Adam is for this.  you guys make me sick

I did work for and defend the services supposedly provided by The London Exchange.
 I was misguided and misinformed. I've later learned the several people paid for services they did not receive from the London Exchange.
 I am sad and embarrassed to have been found on the wrong side of this matter because many people have been hurt by the London Exchange.

Brown Arrests Individual Who Operated Nationwide Credit Card Scheme While Out on Bail

Santa Ana - Attorney General Edmund G. Brown Jr. today announced that agents from his office and the Santa Ana Police Department have arrested a "serial con artist" who defrauded hundreds of people by charging them $500 to apply for credit cards that did not exist.

Ralph Adam Rendon, 33, of Orange County, was arrested late last week on suspicion of grand theft and forgery. While no new charges have been filed at this point, his bail has been increased to $1 million and a search warrant was executed at his Santa Ana business. He is currently being held in custody at the Santa Ana Jail.

"This serial con artist was arrested and charged last year for selling bogus travel packages to senior citizens who wanted to go to Cuba," Brown said. "He is behind bars again for charging his victims hundreds of dollars in application fees for credit cards that did not exist."

On April 8, 2008, Brown's office filed 78 criminal counts of grand theft, embezzlement, and mishandling consumer funds against Rendon in Orange County Superior Court for stealing more than $160,000 from consumers who paid him for trips to Cuba that he never booked. He was arrested a few days later and posted bail. Trial in that case is set to begin on October 26, 2009.

Nearly a year after posting bail, Rendon started a Santa Ana based company called London Exchange, which offered "No FICO" credit cards with credit lines of $50,000 to $100,000. A "No FICO" credit card does not require a credit check. Rendon's company also claimed to offer credit repair counseling.

To receive the credit cards, consumers were required to pay an upfront processing fee of $500. However, no consumers who investigators have interviewed reported receiving a credit card, despite paying the fee. Rendon collected more than $300,000 from over 600 individuals who responded to his company's online advertisements from May to August 2009.

The scheme eventually unraveled after the credit card processing company that Rendon used to process his customers' payments discovered that he was a defendant in a pending criminal case. The credit card processing company notified Brown's office, which launched an investigation.

After interviewing several consumers, investigators from Brown's office obtained a warrant to search the company's Santa Ana office in September 2009. Investigators found hundreds of credit card applications and checks made out to the London Exchange. No evidence was found indicating that any credit cards were ever issued or that the company employed professionals who could offer credit repair counseling.

The company also failed to register with Brown's office as a credit repair agency as required by California law.

Consumers who may have applied for one of these credit cards should check their credit reports for any suspicious activity. Although investigators have seized credit card applications as well as computers records containing personal identifying data, this information could have been misused. If you believe you have been defrauded by the London Exchange, file a complaint with the Attorney General's Office at (916) 322-3360.

I saw an ad on craigslist so I decided to do my own investigation so the first thing I did was come to this great website to see what type of complaints they had. There was only one posting on here and the rebuttal from the company seemed reasonable to me. So then I went to the better business bureau website and this company has an F rating. So, if they really did what they say they did and were legitamate they would have an A rating. Stay away from this poorly rated company. Dont give them a dime.

one of the senior employees there has a long past of scamming people. Ralph adam rendon has been scamming people for years. He scammed elderly people about religious trips to Cuba. I did not fall for this scam because there were to many red flags but after some research I found one of the employees advertising and found out that he had a long past of scamming people. you can find plenty of documents on this on google.

Mr. Frost I'm glad to see you have come to the rescue of your company when someone falsely accusses The London Exchange. A suggestion that I have and I'm sure would help others reading this is to simply show proof that your company does what it says it does. There is no quicker way to silence critics. Just a thought!

This was thoroughly researched by our company. Here is what needs to be known about this blatant slander attempt. 1) We never have had a customer named Charles from Harvey Ill. 2) All the people who are mentioned in the complaint actually work for the company or are affiliated with us. 3) John did not start working with us until May 21 (actual date). The cards take 30-35 days. Therefore, there is no way that this person could have ever received their card, being that this fake report was filed on the 28th of May. 4) We have not had any complaints about our business, until this complaint which is completely fabricated. 5) We had a customer recently who was told repeatedly that the cards take 30-35 days, but she would not except as fact. We received numerous emails and phone calls for the week that she was a client. This complaint actually looks very similar to one she sent us a day before this complaint was filed. Therefore, we are pretty certain this is her doing. This customer has been refunded, and has been notified that we take fake accusations very seriously. Anyone who wants to work with us will find that it will be a pleasure. We have nothing to hide, and all the terms of are agreements are plainly stated in our applications. If you need more information, feel free to contact us. The London Exchange 949.202.4214

First, John did not start working with the company until May 20. Second, the credit card (as documented on the application, and on the website) takes 30-35 days to receive. Therefore, there is no way that you would have received the card at this point, even if you faxed your application on the 20th of May. We have not had one dissatisfied client as of yet, and if there is someone who is dissatisfied, we will refund the $500 upfront cost, no questions asked. Please provide documentation that you are even a client for London Exchange, cause we can not find anyone named Charles from Harvey, Ill on file. This is obviously a total fabrication, and I request it be taken down immediately.

Thank you for bringing this to my attention. I just read this. It is ridiculous. This person presented himself as a Realtor from Atlanta, GA and has been calling for the past 3 days, and has spoken with all the reps mentioned. We receive many inbound calls and we use an ACD system (Automatic Call Distribution) system. Its used to distribute calls to each separate representative. We have 8 people receiving calls right now, thus many different name... We have a huge demand for this service. I can't see how this is evidence this is a scam. Basically, I told this person that I thought he was being a nuisance, to stop calling and that I would not process his application if he sent one in... This must be his method of retaliation. If you'll notice, this was posted yesterday afternoon by Charles in Illinois, but the phone number is in the Atlanta area. When I tried to call and contact this person, there is a garbled greeting. This is simply a confused person who is embarrassed because I asked him to stop calling. He never paid, and I refused his application. He is not an "Angry customer..." I apologize on is behalf for any confusion or fear this has caused for our current customers... Eddie Frost

Thank you for bringing this to my attention. I just read this. It is ridiculous. This person presented himself as a Realtor from Atlanta, GA and has been calling for the past 3 days, and has spoken with all the reps mentioned. We receive many inbound calls and we use an ACD system (Automatic Call Distribution) system. Its used to distribute calls to each separate representative. We have 8 people receiving calls right now, thus many different name... We have a huge demand for this service. I can't see how this is evidence this is a scam. Basically, I told this person that I thought he was being a nuisance, to stop calling and that I would not process his application if he sent one in... This must be his method of retaliation. If you'll notice, this was posted yesterday afternoon by Charles in Illinois, but the phone number is in the Atlanta area. When I tried to call and contact this person, there is a garbled greeting. This is simply a confused person who is embarrassed because I asked him to stop calling. He never paid, and I refused his application. He is not an "Angry customer..." I apologize on is behalf for any confusion or fear this has caused for our current customers... Eddie Frost