With over 18 years in business and 2.6 million registered users, we have facilitated thousands of rental and sale transactions. Timeshare resale companies under investigation are under investigation for a reason so hang up the phone and don't become a victim! Thats what consumer protection investigators uncovered after a two year investigation into a coordinated criminal telemarketing operation. A .gov website belongs to an official government organization in the United States. First, report the incident to your local police and to the regional Better Business Bureau or consumer protection agency. She said I should look for an email from the refund department soon," the man said. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Updated . Using various lead lists, the con artists apparently chose to target seniors across the nation, preying on victims over the age of 79 on average. You can contact the SECs Office of Investor Education and Advocacy (OIEA) by phone at 1-800-732-0330, using this online form, or via email atHelp@SEC.gov. U.S. Attorney's Office, Eastern District of California, Domestic Violence, Child Exploitation, and Human Trafficking Prevention, Final Defendant Sentenced for Mexican Timeshare Resale Fraud Scheme, Former Financial Advisor Sentenced for Scheme to Steal Funds from Elderly Bank Customers, Connecticut Woman Sentenced for Social Security Benefit Fraud Scheme in Stockton, East Bakersfield, Delano, and Elsewhere, Former State Employee Sentenced to 12 months in Prison for Role in $2 Million Scheme to Defraud the Office of AIDS. This timeshare ownership has been nothing close to this image," a Maine man said. Receive Investor Alerts and Bulletins from OIEA byemailorRSS feed. "During the high-pressure sales presentation, we were told amazing things about what this timeshare ownership would be. I would be happy to recommend Sell My Timeshare NOW to anyone looking for a competent, reliable company to sell their timeshare and handle all documentation with a positive and friendly attitude! AddThis sets this geolocation cookie to help understand the location of users who share the information. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile. - examines patterns of customer complaints, dollars spent and lost, customer reviews, related scams and more to show how predatory companies and scammers take advantage of consumers hoping to score deals on travel. The technical storage or access that is used exclusively for anonymous statistical purposes. A Texas man paid nearly $3,000 upfront to a timeshare exit company he thought looked legitimate. As part of your subscription, we will create a full-page advertisement within our active marketplace. As a trusted member of The American Resort Development Association (ARDA), the company is backed by top developers and has an A+ rating with the Better Business Bureau. After being investigated by the Florida Attorney Generals Office, Scott entered into an Auto Voluntary Assurance Agreement (AVC) in 2010. YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. In addition to timeshares for sale, rent and exchange, Timeshare Users Groups easy to navigate website offers timeshare for sale, rent or exchange. Secure .gov websites use HTTPS DALLAS Eight residents of Florida were arrested or self-surrendered over the past few days on charges outlined in a federal indictment returned by a grand jury in Dallas last month and unsealed last week. More than nine million households now. Newton Group calls itself the longest standing timeshare exit company in the U.S. They've been in business for over 15 years. In many cases, the fraudsters will take the money and run, leaving the timeshare owner with a worthless contract and no way to get their money back. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. In 2014, the Florida Department of Business and Professional Regulation issued a cease and desist order to Scott after determining that he was brokering properties under a different business name and without a license. ) or https:// means youve safely connected to the .gov website. The AG also permanently banned Scott from engaging in any Florida business related to land and timeshare sales. He and his band of phone dialing thieves now face felony charges, which will probably keep him them off phone for a very long time. Instead, the company takes the money and runs, leaving the timeshare owner with a worthless contract and no recourse. Payments must be protected. Complaints to BBB also reflect consumers' opinions that timeshares can be nearly impossible to sell, and consumers often feel misled about the amount and frequency of maintenance fees associated with timeshares. Learn more. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. Even worse, marketing by these exit companies has increased during the COVID-19 pandemic preying on the vulnerabilities of people who have had their personal and professional lives disrupted. The timeshare developer industry has worked for many years to advise owners of the fraud, taken legal recourse against disreputable exit companies and worked with state regulators to strengthen consumer protection policies. They kept me informed the entire way. In this scam, a timeshare resale company contacts you as the owner and offers to help you sell your timeshare. Moreover, our partners, such as Google Adsense, will collect data and use cookies for ad personalization and measurement. Sending a contact form message through this website does not create an attorney-client relationship with Finn Law Group. 6LinkedIn 8 Email Updates. You can also access resources for timeshare owners, such as tips for buying a timeshare and information about exchange programs. Buying from an individual owner versus a property developer or resort often leads to a better price, as you can avoid some fees. Some say their timeshare became unaffordable after several years of ownership due to increased fees. In cases where victims become suspicious and stop sending money to the fraudsters, the perpetrators have contacted the victims, posing as representatives of the Mexican government or a financial institution and demanded an advance fee or tax purportedly to help the victims recover their money. 1. When youve found a buyer, we can even connect you with a trusted closing company to help complete the legal paperwork in order to finalize your sale. And to add insult to injury, some of the complainants reported being contacted by a timeshare fraud recovery company that promised assistance in recovering money lost in the sales scamfor a fee. Consumers should continue to be cautious whenever they are solicited by telephone from individuals seeking payment for any services, said Doug Templeton, chief investigator for Pinellas County Consumer Protection in relation to land and real estate sales. Follow our Consumer Watch Team on Twitter. . Another thing I commented on in 2012 was that Premium Timeshare Exchange was an advertising company. If youre considering working with a timeshare resale company, its essential to research and ensure that the company is legitimate. Scott was also prohibited from operating his timeshare and land resale operation. American Resort Development Association (ARDA), , timeshare trade association - email customerservice@arda.com. The Pinellas County Consumer Protection Unit responding to complaints from consumers, found that Chamera Bowman, Tammy Van Wie and Marvin Scott were running a land sales operation without a license and in violation of Florida state law. White-collar crimes are among the most difficult kinds of cases to investigate in the consumer protection sector, especially when it involves a million dollars scam. We researched the best companies from which to buy and sell timeshares based on fees, reputation and services. BBB has monitored deception in the timeshare industry and warned consumers about timeshare exit companies for nearly half a decade. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. If you suspect youve been scammed, file a complaint with your state attorney generals office and the IC3. Professional Services . Necessary cookies are absolutely essential for the website to function properly. If you are ready to resell your timeshare, SellMyTimeshareNow is ready to assist you. Later that year, the Florida Department of Agriculture and Consumer Services conducted an onsite telemarketing inspection. . Feel free to contact us for a free consultation and to speak with an attorney. - Ask if the resellers agents are licensed to sell real estate where your timeshare is located (verify this with the states real estate commission), and get references. It was believed that Marvin Scott had ran various businesses in timeshare and land resales beginning in the early 2000s. If the issue meets a clear and convincing standard and is considered an unfair and deceptive practice, the department may be able to help a consumer directly resolve a resale complaint. Developers were in the area, Properties were being purchased nearby, and Closings were already scheduled. Those lines and many others were reportedly used to hook unsuspecting owners into listing their land in property portfolios. Once . Plus, some companies have been accused of charging exorbitant fees for their services and failing to deliver on their promises. As such, licensed agents can provide a fast way to sell depending on what you own. Analytical cookies are used to understand how visitors interact with the website. Take a closer look at some of the most common timeshare scams and what you can do to protect yourself. Colorado, Consumer Protection Division, Office of the Attorney General Vacation Smart International Referral to the Connecticut Office of the Attorney General ("OAG") for purposes of enforcing a subpoena under CGS 42-110k. - If you want an idea of the current value of the timeshare, consider using a licensed timeshare appraisal service. Be aware of the fees associated with your timeshare and regularly review your billing statements to ensure that you only pay the fees to which you agreed. Be cautious of companies that use high-pressure sales tactics, require upfront fees, or make false promises. As in the above-mentioned Miami case, the FBI can become involved when theres evidence that the fraud extends across state lines (usually wire or mail fraud on the part of the perpetrators) and/or involves a large number of victims, large dollar losses, and an organized criminal enterprise. Timeshare "owners" usually pay an initial fee to get into the timeshare agreement, plus regular maintenance fees and other charges later to continue ownership. An official website of the United States government. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Let one of our friendly real estate professionals help you buy, sell, or rent your timeshare. According to the American Resort Development Association (ARDA), the $9.6 billion U.S. timeshare industry boasts over 1,570 resorts and 205,100 units. A company by the name of Global Business Consultants is currently running this scam as of 11/25/19. Scott, the alleged ringleader was also charged with money laundering. Contact Information. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. In most cases, there is no need to pay a commission for a real estate broker's services, when you can easily find a buyer yourself. Today, I find that most of the RCI bonus . Need Help With Your Ownership? They go by several different company names. We found the representative extremely helpful and professional. Regardless of when or where you purchased your timeshare, you are entitled to resell it. Federal Trade Commission Consumer Response Center 600 Pennsylvania Avenue NW Washington, DC 20580 . Many of these companies are under attorney general investigation for allegedly deceiving owners, . The Internet Explorer web browser is no longer supported by Club Wyndham. These cookies will be stored in your browser. Bluegreen has also proven to be uncooperative while partnering with other businesses. BBB urges timeshare-related industries to self-regulate by establishing and following ethical sales practices. A locked padlock Be wary of offers from timeshare resale companies . The cookie is used to store the user consent for the cookies in the category "Other. Whats the FBIs role in these kinds of cases? Avoid timeshare scams. . According to statements, Scott promoted his reluctant receptionist to president of the company to hide from regulators who he knew would be watching. No properties were ever sold according to authorities, but nearly 1.4 million dollars was collected for fees. And, while they're easy to get intothese contracts are incredibly difficult to escape, according to a. We advocate for owners across the U.S. and beyond. 1. Whether youre looking to buy a new timeshare or sell your timeshare outright, here are a few organizations that will allow you to do so with ease. Do Not Sell or Share My Personal Information. Follow this simple process to sell your timeshare ownership hassle-free: SellMyTimeshareNOW offers more than just timeshare resale advertising. Selling Your Timeshare?How to Avoid Being Scammed. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Any work done to the title is reviewed by a licensed attorney and is guaranteed to be precise. Each owner was then promised refunds on the portfolio fees upon close of sale, minus small administrative fees.. In March 2020, Judge Mendez sentenced co-defendant Marco Antonio Ramirez Zuno to two years time served and to pay $1,108,375 in restitution to the victims of the scheme. Remember that, as our own Michael D. Finn shared some experience with creditcardguide.com. . Hassle-Free Closing Process - Expert assistance to finalize your timeshare sale. Your owner dashboard is your command center when selling your timeshare. We were told we could easily travel anywhere. U.S. Department of the Treasury Office of Public Affairs Treasury Sanctions CJNG-Run Timeshare Fraud Network. Home | How It Works | Our Team | FAQs | Reviews | Contact | Blog, Timeshare Defense Attorneys 2021 All Rights Reserved Privacy Policy Terms of Use. The cookie is used to store the user consent for the cookies in the category "Analytics". This advertising material is being used for the purpose of soliciting sales of a vacation ownership plan. Starwood recommended that I go to SellMyTimeshareNOW. "We thought we would be able to give it to our children someday or sell it for extra money for our retirement, and the (timeshare) sales team made us feel like all of this was possible," she said. The Commission has neither approved nor disapproved its content. The Timeshare Attorney has the experience and knowledge necessary to help you get what you deserve. These fraudsters may provide very official looking documents, including contracts and title paperwork. He meanwhile would be running things from behind the scenes. In November 2020, Judge Mendez sentenced co-defendant Wayne Arthur York II to five months time served, two years of supervised release, and to pay $449,980 in restitution to the victims of the scheme. and see if they have a resale or buyback program. We use cookies on our website to give you the most relevant experience and save your preferences. Let BBB help you resolve problems with a business, Research and report on scams and fraud using BBB Scam Tracker, Learn more about the value of BBB Accreditation, Timeshares and vacation clubs are often synonymous with high-pressure sales. Fraudsters sound convincing, are very responsive, send you authentic looking paperwork, and sometimes create websites that look legitimate. From the beginning of 2020 until the end of 2022, BBB received nearly 30,000 business complaints and almost 10,000 negative reviews related to travel companies. In 2006, to counter the threat posed by weapons of mass destruction (WMD), the FBI established the WMD Directorate. There are so many resale companies out there, as well as lawyers or businesses that they will cancel your ownership. Timeshare fraud is a growing problem in the industry, with many people falling victim to fraudulent timeshare resale companies. Newton Group. At the FTC's request, a federal court temporarily halted the operation and froze . It is safer to only deal with exit companies with an escrow account. Before you agree to any service that promises to reduce your maintenance fees on your vacation property, make sure you understand the terms and conditions of the agreement and that you are comfortable with the companys reputation and process. Many owners pay thousands of dollars to fraudulent timeshare resale companies. - Ask about fees and timing. As you can tell, the timeshare industry is its own unique ecosystem. - Before you sign any sort of contract, make sure you get the details of its terms and conditions. Additionally, calling your developer is a great way to see if they have any in-house options or recommendations for legitimate timeshare resale companies. By using this website, you agree to our Terms of Use. Each was charged by the Pinellas State Attorneys Office with a scheme to defraud. Bluegreen Corporation offers timeshare vacation resorts throughout America, Aruba and the Bahamas. Timeshare Scams There is a lot of misinformation and confusion about the timeshare resale market and exit process due to increasing fraud by marketing firms soliciting owners and consumers with false advertisements to help end their timeshare contracts. Regional consumer protection is a shared responsibility between many agencies, including state and federal regulators. I was afraid of getting ripped off as you hear about all these scams out there. . Before you do this, take stock of your situation. Be extremely cautious if anyone requests that you pay money up-front in order to obtain funds or property to which they claim you are entitled. Cutting out the developer usually means the timeshare resale can have a price tag remarkably lower than many people would expect. "You borrowed money and didn't pay it back.". In other cases, fraudsters file fraudulent documents with state or local officials and even register with their local Better Business Bureau using the false names from their fraudulent documents. Fraudulent timeshare schemes are becoming a very real problemespecially in these economically challenging times as more timeshare owners decide they can no longer afford them. You can report timeshare resale scams to the Federal Bureau of Investigation and Federal Trade Commission as follows: Federal Bureau of Investigation Minneapolis Office 1501 Freeway Boulevard Brooklyn Center, MN 55430 (763) 569-8000 www.fbi.gov. Owners looking to sell their timeshares find many exit companies claim to be able to sell timeshare commitments quickly for high prices. In a first of its kind investigation, the Better Business Bureau (BBB) discovered 10 timeshare exit companies in Missouri scamming . You can also call the coalition's consumer support line at 855-939-1515. This case was the product of an investigation by the Federal Bureau of Investigation. Looking for Related Information? Now, If this buyers waiting scheme sounds similar to a timeshare resale scam, thats because it is. No Thanks The cookie is used to store the user consent for the cookies in the category "Performance". On-going investigation. For-sale-by-owner advertising is one of the most convenient and cost-effective ways to sell your timeshare fast. These fraudsters can be persistent. As part of the conditions of that settlement, the defendant agreed to stop engaging in unfair and deceptive trade practices. They may also use fake testimonials and false promises of quick and easy sales to lure people in. Most commonly, consumers said they felt reality didn't match the big promises made in timeshare pitch meetings. According to court documents, Montalbo, while working in the timeshare industry in Puerto Vallarta, Mexico, would tell timeshare owners that he could guarantee the sale of their existing timeshare vacation rentals, often to pay for other timeshare products Montalbo was attempting to sell them. In March of 2013, Bondi's office sued multiple Florida timeshare resale companies for unfair and deceptive trade practices. If you suspect you are the subject of fraud or dishonest business practices, there are many avenues to report your case: Your local Better Business Bureau can assist you with finding businesses and charities you can trust. This alert represents the views of the staff of the Office of Investor Education and Advocacy. 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. Owners post their timeshares for sale here, and connect directly with travelers looking to buy. A number of factors can impact the speed with which your closing will be processed including how quickly each party executes and returns required documents at various stages throughout the closing. Most of the major brand name timeshare companies have under-publicized resale departments where they will either help you with resale or explain how you can surrender title to your unit and walk away. ", "When I decided to sell my timeshare, I had no idea about how to go about doing this and of course who to trust. . The conspirators would assure victims that the non-existent buyers had already deposited money into trust accounts and that the sellers up-front fees would be fully reimbursed from those funds after the sale was complete. These cookies ensure basic functionalities and security features of the website, anonymously. In business since 2003, our knowledgeable representatives are just a phone call away at 1-877-815-4227. Beware of misleading or high-pressure sales tactics. Here's what you need to know about these calls. Feel free to contact us for a free consultation and to speak with an attorney. "We would have never purchased this had we known how much it would really cost.". "The person on the phone confirmed that I was eligible for a refund, but that refunds were handled by another department. One of the most common timeshare scams is the timeshare resale scam. This cookie is set by GDPR Cookie Consent plugin. Talk about options! Share sensitive information only on official, secure websites. By calling out and denouncing substandard marketplace behaviors of businesses and scammers, this study intends to make consumers smarter and businesses better. But opting out of some of these cookies may have an effect on your browsing experience. These efforts, along with the help of owners filing complaints, the bad practices of these companies have drawn the attention of local and state authorities. During his employment, Rigsbee targeted elderly bank customers and stole $158,960 from these victims accounts. The rest of the year, others own the timeshare and use it as theyd like. Be wary of hiring lawyers recommended by third parties who make unsolicited offers, as they may not be impartial. Please upgrade your browser. Timeshare companies are under severe pressure from angry consumers. START NOW. But some skilled sellers continue to talk buyers into unfavorable deals that often worsen when desperate investors try to offload purchases through the timeshare exit industry. When you subscribe to our services, we work to get your timeshare seen and sold. It does not store any personal data. Contact a highly experienced and skilledtimeshare attorneyfor a free initial consultation. The FBI Criminal Investigative Division and the Office of Investor Education and Advocacy of the Securities and Exchange Commission ("SEC") would like to warn consumers of a recent increase in fraudulent schemes targeting owners of timeshare properties in Mexico. We are NOT partnered with any third-party resale companies so remember that anyone from another company claiming to represent us, is NOT telling the truth. Be aware that scammers may be located far away from where they pretend to operate. A lock () or https:// means you've safely connected to the .gov website. Theres also a map on the home page that shows locations of timeshares in every continent except Antarctica. Final Defendant Sentenced for Mexican Timeshare Resale Fraud Scheme Press Release. Many victims provided credit card numbers to cover the fees. Toll free: (877) 617-1565 . Client Testimonials & Reviews Warning Concerning Timeshare Exit, Rental, and Resale Scams List of Non-Affiliated Companies. This website uses cookies to improve your experience while you navigate through the website. TAGS: Companies Sales Ownership timeshare scams resale scam companies Timeshare Rental Company Timeshare Resale Martket. Over the past few years the number of so-called timeshare resale companies under investigation has exploded as numerous state governments and the FTC have taken notice of these new timeshare resale scams proliferating in the marketplace. The lists of prospective clients came from other timeshare resale companies, including some that appeared to have been stolen . Some desperate timeshare owners report paying resale companies $500 to list a timeshare, but promised . A .gov website belongs to an official government organization in the United States. Earlier this year, the FBIs Internet Crime Complaint Center (IC3) issued an alert on timeshare telemarketing scams after seeing a significant increase in the number of complaints about these scams. The fraudsters may claim that, prior to receiving the money for your timeshare or stock, you need to open an account at a specified bank and make a deposit to fund the account. The second form of advice the travel platform so graciously offers is the concept of resale. If you suspect that you might be falling victim to fraudulent business practices here in Pinellas County or elsewhere, reach out to your local consumer protection or economic crimes office for help and guidance. Toll Free: 1-877-815-4227 (954) 563-2444. Are you ready to part ways with your timeshare or get rid of it as soon as possible? There are deals to be found on travel, but scammers know consumers want to save money and take advantage. This bulletin, like all staff guidance, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person. Don't Get Stuck, Call Us Today! The following are tips to help you avoid being scammed: Not all timeshare exit companies are scams, but some use fraudulent practices to take advantage of timeshare owners. Read through these frequently asked questions to see how easy reselling timeshare can be when you work with a smart and reliable timeshare resale advertising company like Sell My Timeshare NOW. call 855-312-9040 call 866-294-4194 . Then, they call timeshare owners and . But not all timeshares work the same way. You Pay A Reseller In Advance. In either case, you the timeshare reseller will receive the same amount for the sale of your timeshare. To receive more information about timeshare resale business and how to cancel a timeshare contract, send a WhatsApp to +52 332 510 7552, fill in the form in the contact section or call us at +1 714 277 3662. These companies included: International Timeshare Exchange/Network, Travel Buy Owner, CFL Ventures, A1 Marketing Unlimited, and Access Travel Network, Inc. And then, as time went on and no sales were made, victims tried reaching back out to the companies, but their phone calls and e-mails went unanswered. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance.

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