ED Magedson – Founder
90210 Investment Group9107 Wilshire Blvd. Suite 450, Beverly Hills, California USA
90210 Investment Group Summer Fraud Beverly Hills California
I allowed 90210 Investment Group to lease my car to one of their 'permissive users'. Dealing with 90210 Investment Group resulted in SERIOUS damage to my credit rating. The person to whom they leased my car was defrauded of a large sum of money. I needed to get out of my car lease, but still had a little more than a year left on the lease. I posted the car on Swapalease, Autotrader and Craig’s List hoping to find someone to take over the lease for the remaining months.
Shortly after placing the ad on Swapalease I was contacted by someone named Summer, from 90210 Investment Group. She said that her company would take over the lease, guarantee that the payments would be made, and the car would driven and insured by one of their ‘permissive users’. She sent me some paperwork. I paid that month's payment on the car, signed the paperwork, and handed the car off to her, and three of her associates at their offices – it was one of three offices they had, one in Irvine in Orange County, one in Century City in Los Angeles and one in Beverly Hills.
They made the payments for the first 3 months and then the trouble started and quickly escalated, culminating in this report. Here is an abbreviated timeline of events. I exchanged emails with Summer, where she extolled her company’s services. I signed the paperwork, guaranteeing that they would make the remaining payments on the lease. I had misplaced the original signed paperwork. I asked their administrative office to send another copy. Instead they sent a copy of the signed paperwork from the ‘permissive user’ –but NOT the one signed by 90210 Investment Group.
In Fall 2012, the registration on the car was due. They said this was going to be paid by the ‘user’. I forwarded the information to them. They said they would ‘take care of it’. Over the next 3 months I received parking violations from the city of Beverly Hills. I forwarded these to the administrative offices and was assured they would be paid.
During that same period of time I began to receive late notices on the tickets and notices from the state of California that the registration had not been paid. Again I was assured that the tickets would be paid. I notified them about the still unpaid tickets. I resent the unpaid ticket notices and registration to their offices.
Six months later, the registration had still not been paid, the unpaid tickets had now been given to collection companies. This had begun to negatively affect my credit. It was also during this period of time that 90210 Investment Group, Summer and Anna (the administrator: 310-528-5599) had begun ignoring my calls, emails, faxes and letters.
The following month I continued to send them information about the unpaid registration, unpaid tickets and late payments on the account. By this point I'd sent them upwards of a dozen emails, four letters, and four faxes.
At this point in late winter 2013, they’d also become highly secretive. In a letter dated March 5th, I asked for the name of the president of the company, and the executives. They refused to give me this information, instead sending a vitriolic response, saying I was LUCKY that they were making the payments (which they were contractually obligated to do anyway) and that I had never said "Thank You" to them for doing that. Their vitrolic response in no way addressed any of the aforementioned issues. The fact that they'd gone to so much trouble to conceal the identities of the people that worked there was deeply troubling.
In Spring 2013 I finally received an answer from them regarding the unpaid registration, tickets, the fact they hadn't reimbursed me for insurance payments I had to make, the identity of their executives etc - at which point they urged me not to dwell on the past (specifically their negligence and administrative blunders), and to focus on ‘moving forward’. They claimed to have paid the registration, and would be making payments until the end of the lease in October.
No sooner had we had that conversation, than they stopped making the payments (in direct violation of the agreement), and again went silent, not responding to letters, emails, certified letters, faxes or phone calls. This went on through early Summer. In that time I forwarded them (5) notices that the payments were past due and that the car would be repossessed. I received no response. I never heard from them again.
In late Spring 2013 I sent another certified letter, which they refused to accept. By that Summer 2013 – they had completely stopped responding to telephone calls, emails or letters. They did not inform me why they had not made payments or even where the car was. Luckily I still had the car insured and was about to report it stolen.
In mid-Summer 2013 I was contacted by the person who actually had the car. She had to track me down to find out what was going on – because no one from ‘Dream Machines LLC’ (aka 90120 Investment Group) was returning her calls. She said that in Spring she’d given ‘Dream Machines LLC’ thousands of dollars for use of the car for period of 18 months (the lease ended in 6 months). They said they would use the initial deposit she'd given them to make payments. They took this money and made no payments to the car, then disappeared.
I’m filing this report because 90210 Investment Group appears to be a criminal enterprise masquerading as a business. I also believe that I’m not the only person that has this type of experience with them. In a ‘car culture’ like the one in Southern California, there are a lot of people who are in auto leases that for one reason or another they need to get out of. 90210 Investment Group aka ‘Dream Machine LLC’ is taking advantage of these people, and engaging in unethical and illegal behavior. Furthermore I think that the people responsible, who have gone to great trouble to conceal their identities, need to be brought out into the light, brought to justice and prevented from taking advantage of people like this ever again.
I know of a couple other people that have done business with these guys and reported them to the California Attorney General. Do Not Do Business With Them Under Any Circumstances.
This report was posted on Ripoff Report on 10/11/2013 08:13 AM and is a permanent record located here: http://www.ripoffreport.com/r/90210-Investment-Group/Beverly-Hills-California-90210/90210-Investment-Group-Summer-Fraud-Beverly-Hills-California-1091165. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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