Furious customers demand answers from currency firm

Halfhidden

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A QUEUE of angry customers waited outside a Hayle currency exchange firm on Monday morning to find out if they were able to salvage any of their holiday cash.
They were among the estimated 13,000 holidaymakers who had ordered their travel money through Crown Currency Exchange.
Among them was Paul Warmington, 29, who says he has been left without any cash for his three-month dream holiday in Australia.
The builder, from Connor Downs, had ordered over £2,000 which he had saved over several months to help finance the trip during which he hoped to show his fiancee what their life could be like there.
"She is in tears because it is a dream trip for her," he said. "I am a builder so I had to work really hard for it. This setback is going to make it so much harder."
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Another local customer who had used the company before was Mark Crew, from Hayle.
Mr Crew, who works for a local holiday park, had ordered £1,000 in euros and American dollars.
"My wife and I are off on a cruise this Saturday. We had been saving really hard so I am very concerned. We just want to know whether or not we will be getting our money back."
Standing at the premises' closed gates, which were guarded by two security staff, were also travellers from further afield.
Bob Garbett, who had ordered £1,500 worth of dollars through the company said he became suspicious after reading other customers' comments online.
"I phoned them but there was no answer so I drove down yesterday (Sunday) morning but it was closed. It takes the shine off our holiday in Vegas. This was just part of our spending money but for some it is their whole holiday savings and now they can't go."
For Donna Basham and James Chapman, from London, the loss of their £2,000 worth of US dollars will mean taking out a bank loan to be able to afford their break in Florida.
"That's all our savings gone," the disappointed couple said. "We have used the company before and it was fine. We just want to know what's happening so that we can start sorting something out."
The administrators say the website www.crown currencyexchange.com will be updated regularly and have invited anyone with queries to e-mail crowncurrencyexchange@mcr.uk.com.
 

Halfhidden

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I read about this company only a few weeks ago in the Cornishman. From what I read I was led to believe that this was one of the top performing companies in Europe. In fact I'm sure they quoted that it was the fastest growing company in Europe and had received a national recognition, yet here we are a few weeks down the road and this.
How many more companies should be able to trade on the very edge. Shouldn't there be tighter, not fewer regulations to protect peoples money?
 

symons55

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If you look at todays Cornishman, the director mentioned there, has already been involved with similar situations a few years ago, any one remember Newbridge Joinery...........
 

symons55

Moderator
Staff member
I have just remembered, if I'm not wrong this person and I believe it was his accountant at the time, were barred from holding any form of directorship for seven years, it should have been for life!!!!!!!
 
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