If you do a Google news search for the word timeshare you will most likely find a new story similar to this one just about every month. It is an unfortunate truth that this type of story is all too common within the timeshare industry. This particular story comes to us out of Las Vegas where 8 people in total have been served a four count indictment for conspiracy, wire & mail fraud as well as money laundering.
The scam is well known within the industry and sadly it would seem as though this particular scheme is very successful, until the perpetrators are caught of course. The targets in these unscrupulous scams are most often elderly timeshare owners. That’s right, these criminals prey on the elderly and take advantage of their timeshare woes and in return they provide nothing but trouble for these victims. Because of the current state of the timeshare industry there are a significant group of timeshare owners who would like to get out of their contracts. Whether it be due to the rise in their timeshare fees or inability to even use their timeshare, these owners are in dire need of a way out. The criminals who take advantage of this state are well away of their desire to get out of the timeshare. The scam basically involves soliciting these owners with an offer to have someone buy their timeshare and take over all financial obligations related to the timeshare. However, this offer comes at a price that must be paid first in order to sell the timeshare.
These scams will rack in millions of timeshare owners money before disappearing or hopefully being shut down by authorities. While it seems as though these scams are occurring one after another, they are still fairly unknown among the target demographic. That is why Resort Members Association feels it is necessary to bring light to these scams so that timeshare owners can be better informed and prepared to deal with calls that claim to have a buyer ready and waiting, for an upfront fee. Remember to always do your research when it comes to dealing with your timeshare and do your best not to pay upfront listing or advertising fees.