Here are two more updates on timeshare fraud cases and their outcomes, some of them very shocking, and very useful, whether you’re going to buy a timeshare, sell a timeshare, or trying to avoid timeshare fraud.
The first was an arrest of a member of a timeshare fraud group that has resulted in two arrests in three days alone, and over a dozen total prosecuted. This group was accused of defrauding at least two dozen timeshare owners in 18 states. The group had stolen over $44,000 and was on their way to obtaining much, much more before the authorities caught them. The scheme reportedly ran for over a year, with telemarketers claiming that sellers had to pay closing fees up front and, once receiving the money, would disappear.
Another timeshare fraud case was recently settled in court and imposed a $6.3 million fine on the group, which operated under multiple company names and involved a complex mail redirecting process. The group also claimed to have all their business regulated and approved by the Federal Trade Commission (FTC) which resulted in greater success in their fraud. They would then charge over $3,000 for an “earnest deposit” which they would claim to give back after the purchase, but would instead just keep.
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