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Report: #586853

Complaint Review: Ocean blue credit - ocean blue bank - Rancho Cucamonga California

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  • Reported By: john — Maunaloa Hawaii United States of America
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  • Ocean blue credit - ocean blue bank 8333 Foothill Blvd Rancho Cucamonga, California United States of America

Ocean blue credit /ocean blue bank Alex Diamond PONZI SCHEME ON CUSTOMER"S DEPOSITS Rancho Cucamonga, California

*Consumer Comment: OCEAN BLUE CREDIT is indeed a fraud and Alex "Diamond" has a criminal record
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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.

This report was posted on Ripoff Report on 03/29/2010 12:18 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ocean-blue-credit-ocean-blue-bank/rancho-cucamonga-california-/ocean-blue-credit-ocean-blue-bank-alex-diamond-ponzi-scheme-on-customers-deposits-rancho-586853. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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#1 Consumer Comment

OCEAN BLUE CREDIT is indeed a fraud and Alex "Diamond" has a criminal record

AUTHOR: SickAndTired - (United States of America)

SUBMITTED: Monday, April 05, 2010

POSTED: Monday, 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 
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