• Report: #336745
Complaint Review:

American Bank - LEI Financial

  • Submitted: Tue, June 03, 2008
  • Updated: Sun, November 04, 2012

  • Reported By:Tempe Arizona
American Bank - LEI Financial
5469 Kearny Villa Rd. #302 San Diego, California United States of America

LEI Financial REVIEW: LEI Financial Customer Satisfaction Commitment was priority #1 LEI Financial had implemented strategic changes to insure clients success, focusing on finding ways to help clients search for financing even in sort of a challenging market. The company was started in order to offer opportunity, and make a positive change in peoples lives, ..when the market crashed it became exactly the opposite of what the company first intended San Diego, Phoenix, Scottsdale, Coronado, Tempe
*UPDATE: LEI was a victim of the housing crisis just like many Americans. LEI Financial recognized by Ripoff Report Verified

*Consumer Comment: This is a blatent LIE! Bill is a wonderful person to work for

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Ripoff Report Verified REVIEWED:

EDitors UPDATE: Positive rating and recognition has been given to LEI Financial for its commitment to excellence in customer service.

Ripoff Reports discussions with LEI Financial have uncovered a commitment by the company to total client satisfaction. This means that former clients of the company worked towards finding a mutually satisfactory resolution to any complaints or concerns. LEI listened carefully to client concerns and saw them as an opportunity to learn from past mistakes and become more efficient as a company in the services they offered and the support for those services.

LEI Financial is Rip-off Report Verified

LEIs principal, informed us that his personal philosophy is that clients were a precious resource. As a successful businessman, the owner of LEI feels it is critical to always listen to your clients and respond properly, no matter what business he is in. By always putting customers first, he grew LEI Financial to one of the largest mortgage companies in San Diego and the country, helping 1000's of homeowners with their financing needs until the national credit crunch in 2007. LEI had 100's of loan officers that originated over 6,000 loans. Ripoff Report was informed that LEI was sued a total of 14 times by clients who felt they did not receive the mortgage they wanted. All of these lawsuits have been either resolved, settled or dismissed. Due to the mortgage crash LEI closed its doors just like most other mortgage companies. Although lawsuits are unfortunate they are common for a business of that size (especially a mortgage business with that many employees). 14/6000 or 2/10ths of 1% is not a bad track record.

LEI's principal, admits that the company had challenges that every company does. He listened, he learned, and acted with integrity and only good intentions. The company made mistakes by growing too quickly, hiring the wrong people and not firing those wrong people and takes full responsibility for not taking the right actions sooner.

LEI was a victim of the housing crisis just like many Americans. This happened to many good people across the country. The company was started in order to offer opportunity, and make a positive change in others livesand when the market crashed it became exactly the opposite of what the company first intended we saw peoples true colors. Scared people got scared, Evil people got evil (but still managed to be wolf in sheep's clothing), sociopaths became real, bad apples became rotten, finger pointers blamed others, and good people became better people.

LEI strived to add value in its services and educate its customers. LEI's mission statement says it all: "Our goal is to provide our clients the best quality, value and professional excellence in the industry." Some of the other things Ripoff Report learned in the course of its investigation: typical customer feedback reads: LEI Financial truly communicates all aspects of the process in a timely and effective manner. We are very pleased with the responsiveness that the LEI team showed us. They are serious about meeting commitments, and delivering on all their promises."

LEI took employee satisfaction seriously as well. Employee feedback and surveys revealed comments such as this: "LEI provided a very positive environment to work. Opportunities for suggestions and improvements were always encouraged. Leadership is truly concerned about our contribution to the company and providing growth opportunities for us. The company takes the time to listen and communicate with employees and customers." Ripoff Report was pleased to learn that LEI Financial wanted to set the record straight. And wanted everyone to know they had always pledged their commitment towards client and employee satisfaction. In business they know they cannot satisfy 100% of the people 100% of the time.

LEI recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. They did not want to leave behind any unsatisfied customers

In summary, after our investigation, which included discussions with the former CEO and many of his past and current associates, Ripoff Report is convinced that LEI was committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer ..

Ripoff Report tied to contact the Author of the Report below they never contacted us back so LEI Financial could make things right with them.


===================== American Bank - LEI Financial conned me and my family out of 150 thousand dollars. San Diego California

Bill conned me and my family out of 150 thousand dollars. Bill convinced me to take 150 thousand dollars out of the equity in my home and invest it with him and now I am completely upside down in my home and my family is devastated and I am broke. And when I asked for the money back he told me to go ahead and sue him but I better get in line.

Bill conned me into taking 150 thousand dollars out of the equity in my home to invest and now I am completely upside down in my home. Bill has told me to forget the money and to just move on with my life. I am so frustrated and worried that the only thing I can do right now is write this to protect anyone else that may be thinking about working with Bill in the future. I dont know what else I can do. I believe in Karma so I wasnt sure if I should rite this but I dont want Bill to do what he did to me to anyone else.

Bill is a disgusting little person both in his professional life and his personal life.

I am not just a client or an investor that Bill swindled money from I was a long time employee of Bill and I thought a good friend. I should have seen it coming after the long list of people that I watched Bill con cheat steal and lie to.

When I met Bill he was a small 5 foot 6, 25 year old pipsqueak working for American Mortgage Express in San Diego. He had conned his father into introducing him to Judy Dunham the owner of American Mortgage Express in San Diego. He then conned Judy Dunham to let him start a small division in her company using illegal computer dialers to harass people. No thanks to anything Bill did the mortgage industry started taking off and finally after using up 250 thousand dollars of Judys money Bill little division started to make money Instead of using the profits to pay Judy back for her investment Bill decided he wanted to keep the money for himself.

I should have known then that Bill was a scum bag because the second his division started making money he moved his employees to a new building and transferred all of the income that finally started to come in to a separate bank account so that Judy Dunham would never see a penny of profit from her 250 thousand dollar investment.

Just like in the movies Bill snuck out in the middle of the night told his employees to pack up everything and move to a separate office building leaving Judy Dunham high and dry. Judy Dunham wanted to nail Bill to the wall and force him to file Bankruptcy. Her advisors told her that she would never see a penny of her 250 thousand dollars again if she did this. So instead of taking it personally and destroying Bill she decided to sue him for the money.

Bill of course as a 25 year old college dropout did not have the 250 thousand dollars to pay back so the court ordered him to pay her back with payments. Although Judy Dunham wanted to get back her 250 thousand dollars and destroy Bill so he could never do something like this to anyone else, she had to settle for monthly payments. It was almost as though she had given the little scumbag a 250 thousand dollar loan to help him build his own company at her expense.

This was just the first person that I watched Bill con and steal money from and get away with it. The second person was his good friend and the Vice President of his company Steve. Steve moved from Arizona to San Diego with his wife and children to help run the company that Bill started with the money he conned from Judy Dunham. What Bill did to Steve was even more disgusting than what he did to Judy Dunham. The mortgage industry started to boom and so did Bill company LEI FINANCIAL in San Diego. Bill has such a Short Mans Complex that he named the company after himself.

LEI FINANCIAL stands for Lyons Enterprises Incorporated. The second that the company began making money Bill  started looking for a way to cut Steve out of the picture. In order to lure Steve to come help build his company Bill agreed to pay Steve 50% of the profits. Even though Steve knew perfectly well that Bill had stolen and Cheated Judy Dunham Steve never thought that Bill would do it to him. Steve was wrong.

Bill realized that he did not want to pay Steve 50% any more. Steve had done his job and built the company up and Bill decided to push Steve out. Bill hired someone younger to do most of the work that Steve was originally hired to do. Eventually Bill conned Steve to sign a contract that Steve believed would take care of him and his family for life as long as he walked away. Bill convinced Steve that they were friends and that he did not need a lawyer to read the contract. Steve was wrong.

The contract paid Steve a small amount of money to walk away and made it impossible for him to ever work in the same industry. Steve thought that he and his family would be taken care of for life and instead his home was upside down he was dead broke he had 6 kids and was no longer able to work.

If you think that is disgusting it gets even worse. I am sure all the horrible things Bill was doing to the people around him was probably keeping him up at night. He started acting extremely paranoid. He bought video cameras and put them all over the offices and he changed his phone number every week.

After watching Bill rob cheat and lie to Judy and Steve and hire a private investigator to follow his girlfriend I should have known better than to trust him. After he conned Judy and lied to Steve, Bill conned me into taking 150 thousand dollars from the equity in my home to invest in the company to make it look better on paper. Bill convinced me that I would be with the company forever and that we would be rich. Looking back on what Bill did to everyone else he made promises to I cannot believe I was so stupid.

Then at the peak of the market everything crashed. Overnight LEI Financial in San Diego and the company that Bill  had lied cheated and stolen to create was finished. LEI would have been fine except for Bill greed. He saw himself as the next Donald Trump and was trying to make LEI into the next Washington Mutual. To do this he had to show as much money on paper as possible so that he could get his own banking line. In order to hoard as much money as possible to show on paper, Bill was cash flowing all of his bills from previous months with next months future profits.

The second that the mortgage industry went sideways there were no more profits. And since Bill owed millions of dollars to vendors lead providers and employees the second that there was no more profit to pay last months bills the company was finished.

Bill thought that he would always be on top and he never gave any tought to the future or protecting his employees. The second that the market changed he immediately could not pay his employees. Everyone lost their job due to his greed.

I should have been smarter and seen what was coming but I just never thought that Bill would do it to me.

Bill stopped paying his employees his vendors and his lead providers. He claimed that all the money was gone and like a paranoid addict he tried to point the blame at anyone around him. There was a line around the block when his employees went to cash their checks because Bill had put a stop payment on all checks.

Today Bill has conned another company to allow him to work for them. He has scammed American Bank in San Diego to thinking he can con and recruit new employees for American Bank. And if his track record say anything he may just be right.

Bill has so many law suits out on him and he owes so much money to so many people that he cannot show his face in public.

He is even pitching Monavie a pyramid scheme health tonic that is supposed to cure every disease.

I wonder if it will cure all the problems and ruined lives that he created.I am not going to ever get my money back. My house is upside down and my family is devastated. But in the end I can only blame myself for trusting Bill. The only thing I can do now is help stop someone else from trusting Bill.

Signed a Devastated former friend and employee of Bill

Rip Off Reports On Line Tempe, Arizona

This report was posted on Ripoff Report on 06/03/2008 12:20 PM and is a permanent record located here: http://www.ripoffreport.com/reports/american-bank-lei-financial/san-diego-california-92123/lei-financial-review-lei-financial-customer-satisfaction-commitment-was-priority-1-lei-336745. 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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#1 Consumer Comment

This is a blatent LIE! Bill is a wonderful person to work for

AUTHOR: Anonymous - (U.S.A.)

After reading that load of crap I felt compelled to respond. That was the most ridiculous twisting of facts I have ever heard in my life. I worked for Bill for many years, and let me tell you that his employees' success was always his number one goal. He gave people coming out of minimum wage jobs the opportunity to make $10,000; $20,000 even as much as $50,000 a month. He took his loan officers on trips to the Phoenician in Scottsdale and had weekend long Christmas parties in Palm Springs where he showered his employees with awards, praise, gratitude and encouragement for the year ahead. I doubt that the greedy person described above would spend all that money showing his employees his appreciation.

It was not Bill who was greedy, but his loan officers. Thinking they could do it better themselves, a group of money hungry, ungrateful liars betrayed and stole from Bill, and they were the ones to sneak out in the middle of the night. Unfortunately for them, they didn't realize what they were leaving behind and I think that most of them are back parking cars while Bill continues to provide opportunity, even in this tough market.

Bill has always operated his business with the utmost integrity. That's just his approach to business as well as to life. It's who he is. Trust and honesty are two of his top values.

I happen to know that Bill and Judy Dunham are still friends. After he left American Mortgage Express to start LEI, he squared everything away with her and paid her every penny he owed her. I'm sure if you asked her, she would only have good things to say about him. In fact, if you ask around the mortgage and real estate industry, you will find that everyone has wonderful things to say about Bill. He is very highly respected by many of the top people in the industry.

Bill is a brilliant businessman and entrepreneur. He has an amazing energy that makes his company a fun place to work. He is extremely generous and if an employee, family member, friend, or anyone ever comes to him for help, he doesn't even have to think twice before pulling out his check book or doing whatever it takes to help them out. The guy would literally give you the shirt off his back.

I am so grateful for my time at LEI and Bill is by far the most amazing person I have ever worked for. I can't wait to see what he does next and I know beyond a shadow of a doubt that whatever it is, success will always find him. Surely, he will create great things.

Unfortunately, often times bitterness and jealousy follow greatness. This report was posted by a bitter ex employee who can only deal with his own failure and bad choices by maliciously attacking Bill with blatant fabrications. It is true that Bill received 150k from a friend and employee as an investment, however that person did not write that report. He and Bill are still friends and he is being paid back. That report was written by a liar posing to be someone he is not. But when you put out negative things, that is what you will eventually get back. I hope Bill stays focused and clear and doesn't allow these people to get him down. You can't believe everything you read, and this is definitely one of those times.
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