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Articles from DIAMOND JEWELLERY (982 Articles), RINGS - ENGAGEMENT (220 Articles), RINGS - WEDDING (206 Articles)
Diamond Exchange is still not refunding its customers, despite its listed terms and conditions
Diamond Exchange still holding refunds
 3.8 k views | Posted October 26, 2010 | By Sonia Nair
Diamond Exchange customers are still experiencing delays in receiving refunds from the online retailer, as the business deals with solvency issues in court.
Jeweller has continued to receive complaints about Diamond Exchange concerning broken promises and missing refunds in recent weeks.
One New South Wales couple was told their money would be refunded by October 18 – following two phone calls and a letter – but it never materialised in their bank account.
The concerned couple then threatened to report the company to A Current Affair and the Kyle and Jackie O Show. The duo also filed a complaint with the Department of Fair Trading and informed the company of their intention to file a statement of claim at their local court.
Diamond Exchange group accounts manager Karna Rana wrote to them promising to complete the refund as quickly as possible.
Despite the exchange of further correspondence, and another confirmation from Diamond Exchange that the money would be transferred from its US account to the aggrieved couple, a second refund date has been missed. At the time of publication, the couple still had not received their refund.
Another customer ordered a diamond from Diamond Exchange in August as a surprise for his girlfriend. Last week, he called the company to enquire about the whereabouts of his diamond but could not get hold of anyone.
The diamond company repeatedly refused to return his calls, told him the Sydney office could not do a refund and went back on an offer to give him a diamond available in its Sydney office because another customer had supposedly put it on hold.
The frustrated customer then threatened to go into the office in person and was told that a refund would happen on the very same day. However, 10 weeks later he is yet to receive her money and is surprised such a company is still being allowed to trade.
“JAA said their hands are tied but their logo still appears on the Diamond Exchange website,” she said.
“I did a search on the Diamond Exchange back in August and nothing sinister came up. Surely if they are in as much trouble as the articles suggest, someone should have done something about it sooner.”
A third customer ordered a diamond for over $13,000 in mid-July and still has not received the diamond. He was originally told there was a delay with customs. Diamond Exchange director Jim Francis has since told the customer that the diamond would arrive within a week but he has not heard anything further from the company.
Like the second customer, he decided to purchase from Diamond Exchange in the first place because he couldn’t find any negative information about the company online.
“Unfortunately, in the excitement of buying a diamond and getting ready to be engaged, I just listened to the sales consultant when they told me I had to pay for the diamond upfront.
“I hope your story will make others aware of the situation.”
Jeweller put a number of questions to Diamond Exchanges solicitor, Nick McKenzie-McHarg of law firm Gadens concerning the company’s solvency, especially given customers are waiting up to 10 weeks to be refunded money that they paid upfront, but at the time of publication Jeweller had not received a response.
Diamond Exchange will appear in the Victorian Supreme Court on November 5.
More reading:
Diamond Exchange case adjourned
Diamond Exchange director sets up new company
Diamond Exchange poised for court
'Never buy diamonds online', urge stung customers
Australian Securities & Investments Commission
Diamond Exchange woes continue
Diamond Exchange stops trading
Diamond Exchange to be wound up?
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