I can report that this was not the intentions of management or owners.
Guess what? Intentions don't matter - only actions. And you're telling me that Monarch employees didn't stonewall or otherwise lie to customers who called and requested refunds or wished to check on the status of a refund? Sure.
Gambling with the customer's money is never acceptable. You're spewing the same old junk.
EDIT: Looks like their Web site is down for the count.