Scam Alerts!
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Another possible timeshare con artist has been reported in an online discussion, calling itself Sell A Timeshare Now LLC and claiming to be operating out of Atlanta, Georgia.
The report states, "I received an offer from" Sell a Timeshare Now,LLC " for my Wyndham points. The offer was in writing and signed by the "buyer" . They stated I must send 5% of the sale price payable to merchantable accounts of Sell a Timeshare Now,LLC within 24 hours of the accepted contract. The price was acceptable-however- I think the 5% should be sent to the title company. They said this is how timeshare points are sold. I am not comfortable with this arrangement! ( I am wondering if this is another scam.) They said the reason for this is that they are not a licensed real estate company and have to work with one that is licensed. They would not give me the name of the company they work with because they said they are afraid I may contact the company directly and work with them. This sounds like total nonsense! I certainly would be interested in your opinion and your legal advise. I would like to sell my points-however I don't want to be scammed. what would you recommend?..." Consumers should simply hang up the phone when they receive a cold call promising to sell or rent their timeshare! These calls are just another form of a telemarketing scam! Timeshare resales are simply another version of a real estate transaction, and they should follow the same process as a traditional real estate transaction. 1) The Seller lists the property with a licensed real estate broker (preferably one that is licensed in the state where the property is located or that maintains a cooperative relationship with a broker who is licensed there). If the reseller or broker contacts you via an unsolicited telemarketing call- it is ALWAYS a scam! 2) The Seller should NEVER pay any type of upfront fee, appraisal fee, advertising fee, admin fee, MLS fee, or marketing fee.. It many states it is illegal for a licensed real estate broker to charge any type of advance fee to sell a timeshare! 3) The resale broker pays all costs to advertise the property. 4) The resale broker delivers any and all offers received for the timeshare property. 5) Once an acceptable offer has been received, the resale broker will deliver a sale and purchase agreement, or a rental and short term lease agreement, which details the transaction. The contract should also specify the title company, attorney, or escrow agent that will be responsible for holding and protecting the buyer or renter's funds. The closing agent should be a well known company that is properly licensed to conduct real estate closings in the state where the property is located. 6) At closing, any seller expenses are simply deducted from the buyer's money. The Seller should NEVER SEND IN ANY MONEY unless they know in advance that they are upside down due to the broker's fee, a mortgage or lien, or if the broker's commission exceeds the property sale price. 7) At the close of escrow, the closing agent will disburse funds according to the executed contract. There is a new report of what appears to be the same old rental scam trying to target timeshare owners, by a "company" using the name of North American Management LLC that claims to be operating out of Texas. According to the report, the company cold calls timeshare owners with the promise that renters are waiting to use their timeshare weeks.
In the discussion, one poster stated, "All lies by this company. Website created just two weeks ago. While there is an LLC listed with Texas, it is not in good standing. Just another scammer with a new name." If you believe that you have been the victim of any type of timeshare related fraud perpetrated by this company, please take the time to report the crime by contacting the Attorney General of Texas. Because this company appears to be using telemarketing tactics, you can file a complaint by clicking HERE. Authorities in Florida have released details in the arrest of two women who operated a wire fraud scam targeting timeshare owners. 46-year-old Celeste Stalnaker and 39-year-old Stephanie Tanos face a long list of charges according to a coordinated investigation between Ormond Beach Police, the Volusia County sheriff's Office and Hillsborough County officials. The release from Volusia County Sheriff's investigators can be read in full at http://volusia.org/sheriff/press/120068.htm
The Hillsborough County Consumer Protection Agency contacted Sheriff’s Office investigator Lance LaMee in January to report that complaints had been filed against the company H&H Holdings. The victims said that they had sent money through wire transfer to the company in exchange for selling the complainants’ timeshares. But once the money was sent, they never heard from the company again. The Hillsborough Agency had tracked the suspicious company to Volusia County where the wired money had been picked up. Under questioning, Stalnaker allegedly explained that she had been provided “lead sheets” that contained information about potential victims, and she would call them to offer to sell their timeshares. Once an agreement was reached, Stalnaker said that Tanos, who also lives in Ormond Beach, would tell the victims how much money to send for the nonexistent services – such as a title search and closing fees – and how to send it via wire transfer. The women always went to the stores together to pick up the cash. Stalnaker said that she had to be the one to collect the money because Tanos had been banned from using Western Union. Finally, Tanos would give Stalnaker anywhere from five to 20 percent of the profit. NJ.com has reported that nine people in New Jersey were arrested for their roles in a multimillion dollar mail fraud scheme involving timeshare mortgages that allegedly stole more than $2.4 million from consumers. Seven other people were also charged and will have initial court appearances in Florida, South Carolina, Virginia, and the U.S. Virgin Islands before coming to New Jersey to face charges.
According to the complaints: In 2010, law enforcement officers began investigating The Vacation Ownership Group, (a/k/a VO Group LLC). The investigation revealed that the defendants, through the VO Group, participated in a fraudulent scheme in which representatives of the VO Group, often using false identities, telephoned owners of timeshare vacation properties purchased from Flagship Resort Development, Wyndham Vacation Resorts Inc., and other timeshare developers. They convinced the owners in some cases to submit money to the VO Group, purportedly to pay off the owners’ “mortgages” on their timeshares. The VO Group claimed that the timeshare owner could pay off the mortgage balance at a substantially reduced amount — often by as much as 50 percent the amount of the owner’s original mortgage — by mailing payments to the VO Group. The VO Group representatives also got timeshare owners to send the VO Group money purportedly to have timeshares cancelled or sold. After receipt of payments for the VO Group’s “service,” the conspirators caused those payments to be deposited into a bank account in the name of the VO Group. Rather than paying off the timeshare owner’s mortgage, cancelling the owner’s timeshare, or selling the timeshare, the conspirators used the timeshare owner’s money for their personal use. The investigation also revealed that in an attempt to cover up the scheme, the conspirators in most cases engaged in a “bait and switch” tactic by purchasing an additional timeshare in the victim’s name without the victim’s knowledge. The victim purportedly had assented to the purchase based on documents the VO Group previously emailed to the victim for signature even though the victim had been led to believe he or she was simply paying off the original timeshare mortgage. During the course of the investigation, law enforcement officers interviewed approximately 225 victims of the conspirators’ scheme, many of whom were elderly. The nine defendants arrested in New Jersey are: Adam Lacerda, 28, Egg Harbor Township Ashley R. Lacerda, 32, Egg Harbor Township Steven Cox, 48, Ventnor City Ian Resnick, 37, Absecon Ryan E. Bird, 34, Clementon Francis Santore, 52, Northfield Brian Corley 27 Egg Harbor Catherine Bannigan, 57, Egg Harbor Township Joseph Diventi, 32, Somers Point Also charged are: Alfred Giordano, 32, Hurry County, S.C. Vincent Giordano, 27, Margate Joseph Saxon, 38, St. Thomas, Virgin Islands Aimee Allen, 26, Little River, S.C. Genevieve Manzoni, 46, Lake Worth, Fla. Eric Reilly, 33, Galloway Eric K. Reiff, 40, Williamsburg, Va. All of the defendants except Alfred Giordano, Allen and Reif were arrested Tuesday and are in custody. The Federal Trade Commission has announced a legal settlement with a south Florida couple who allegedly operated a deceptive telemarketing scheme that victimized consumers hoping to sell their timeshares. Pasquale Pappalardo and his wife, Lisa Tumminia-Pappalardo, agreed to settlements with the FTC that permanently ban them from telemarketing and engaging in timeshare resale services. The settlement is a result of investigations into the group, which operated under a variety of names, and the first court filings named Timeshare Mega Media and Marketing Group, Inc., d/b/a Timeshare Market Pro, Inc.; and Timeshare Market Pro, Inc along with numerous individuals as defendants. The individual cases are still pending.
According to the FTC's complaint, filed in October 2010, the defendants conned consumers by promising that they had buyers lined up and waiting to buy the consumers' timeshares. The defendants charged consumers an up-front fee, usually $1,996, but promised a full refund upon closing of the timeshare sale. The FTC alleged that, after the consumers paid the fee, they were told to expect a contract from Timeshare Mega Media. What they received turned out to be a contract to market and advertise their timeshare, and not a sales contract, and many consumers signed and returned the contract thinking it was a sales contract, the complaint alleges. Those who questioned its validity allegedly were given the run-around by the company and falsely told that a sales contract would follow. In fact, according to the FTC, the company never had any timeshare buyers lined up and never actually assisted anyone in selling a timeshare. When consumers discovered this and demanded their money back, they found it nearly impossible to get a refund, or even get a call back. The Commission estimates that in the 20 months the defendants operated, thousands of consumers were defrauded out of at least $2.7 million. In October 2010, a federal court halted the operation and froze the defendants' assets, pending resolution of the case. In addition to banning the Pappalardo's from telemarketing and engaging in timeshare resale services, the settlement orders announced permanently prohibit them from misrepresenting any product or service, selling or using customers' personal information, failing to properly dispose of customer information within 30 days of the orders, and attempting to collect payments from past customers. The order against Pasquale Pappalardo imposes a judgment of almost $2.7 million, which will be suspended when he surrenders the proceeds from the sale of a condominium. The full judgment will become due immediately if he is found to have misrepresented his financial condition. The court also entered a $2.7 million default judgment against Timeshare Mega Media and Marketing Group Inc., Timeshare Market Pro Inc., Tapia Consulting Inc., Joseph Crapella, Pasqualino Agovino, Louis Tobias Duany, and Patricia A. Walker. The Better Business Bureau warned Iowans Wednesday about dealings with Wade Capital Management, a Des Moines “vacation ownership closing company.”
While Wade Capital Management claims to be located at 668 19th St., Des Moines, the bureau said mail sent to that address, an apartment building, has been returned as undeliverable and the company is not registered as an Iowa corporation. The bureau said one timeshare owner indicated Wade Capital Management requested a 10 percent transfer commission fee paid by wire in advance to an address in Mexico. Many timeshare owners are fleeced by companies seeking to capitalize on demand to sell timeshares. The Better Business Bureau recommended that timeshare owners avoid dealings with companies that contact them by phone. If they decide to do business with a timeshare sales company, they should check to determine if the reseller’s agents are licensed to sell real estate where the timeshare is located. Timeshare owners should get any promises in writing and avoid whenever possible paying any fees in advance. If you believe that you have been a victim of consumer fraud or wire fraud perpetrated by this company, please take the time to report the crime to the Iowa Attorney General by clicking HERE and also report the crime to the FBI A reader has submitted a possible timeshare scam alert about All Star Equity International. The reader claims that this is the same group also operating under the names Property Marketing Group and Grand Luxe Management Solutions. An except of his warning is posted below.
"...This is another name used by the group linked to the Property Marketing Group and Grand Luxe Management Solutions and others... The same Mexican scam artists are currently using this name.... In summary they will cold call you and offer a high price for your timeshare or other vacation plan/program etc. They claim to have a buyer willing to purchase your timeshare. Once you bite you will sign contracts. Then they will ask you to send money for closing costs. Then it will be for taxes (Mexican Govt. holding your money until you pay). Then they want you to pay commission up front before you get your money. All money is supposedly going to an escrow in Mexico...Whatever you do don’t send them any money." If you believe that you have been a victim of consumer fraud perpetrated by this company, please take the time to report the crime to A possible timeshare scam alert has been issued to Diamond Resort International timeshare owners about a company calling itself Kingston Brokerage Sales claiming to be operating out of the UK. The company is allegedly cold calling Diamond timeshare owners with a resale offer and claiming to be affiliated with the resort developer. The company's website offers no identifying information or even provides a physical address.
If you believe that you have been a victim or consumer fraud perpetrated by this company, please contact your state's Attorney General or contact TATOC at http://www.tatoc.co.uk/ TATOC has released a list of companies that have allegedly been cold calling timeshare owners in Europe on their website, and urges extreme caution be exercised by any consumers dealing with this companies. Kingston Brokers is included on their list (the full list is shown below).
A reader has submitted what he believes to be another timeshare resale scam, this time operating under the business name of "Grand Luxe Management Solutions" and claiming to be operating out of Houston, Texas. The website registration shows the following:Domain name: grandluxemanagementsolutions.comCreation Date: 2011-12-24Expiration Date: 2012-12-24Registrant conatct: Name: Wesley R Company: Grand Luxe Management Solutions Email: weasleyr46@yahoo.com Address: 16225 Park Ten Place US - Houston ( zip: 77084 ) Phone : 0 - 713 893 4647 The address used is a Davinci virtual office "Park Ten Place Suites" and the phone number goes to a landline in League City, Texas. The reader sent in the following alert: "...I was contacted by cold call by a person claiming to be Jeff Lincoln of Grand Luxe Management Solutions in Houston Texas for the resale of my Platinum Access Program (another scam). He claimed to have a corporate buyer wanting to purchase my "weeks". I asked if I would need to send/pay any money up front for fees, taxes, commissions, etc. prior to me receiving the cash from the sale. He stated that I would not have to pay anything before receiving funds from the sale. He sent me a sales proposal for this transaction. Upon checking in on the company, the only mention of it through a Google search results in links to the company web site. They also claim to have been in existence since 1991. This is obviously another scam. I plan on playing along with this scammer and waste as much of his time and resources as possible (obviously no money will be sent his way)... We need to get a scam alert out for this new identity so that a Google search will get a hit to the highly probable fraudulent activity...." A copy of the proposal sent to the timeshare owner is attached below (the owner's personal information has been redacted). If you believe that you have been a victim of consumer fraud or a timeshare scam perpetrated by Grand Luxe Management Solutions, please take the time to report the crime to the Texas Attorney General by clicking HERE! 
California DRE has issued a press release warning consumers to be wary of timeshare resale fraud.
Because the release contains some great information for consumers, I have posted most of the information here. You can read the document in its entirety by clicking the link above.. "Types of Scams While there are almost endless variations of timeshare resale fraud, the following are three of the common fraudulent practices that the DRE has seen: 1. Unlicensed, unregulated, and illegitimate timeshare reseller fraudsters pose as and use the identities of legitimate and licensed real estate brokers, thereby providing a false sense of security, and then demand the payment of monies up front (at times via wire transfer to accounts in a foreign country) in connection with the purported resales. No services of any kind are actually provided (see the discussion below regarding the requirement for the timeshare resale agents to be “licensed”). 2. Scammers target timeshare owners (a number of whom are senior citizen retirees) and falsely tell those owners that the "agent" has found a "ready and willing" buyer for their timeshares (which in some cases may not currently be listed for or be for sale). In certain cases investigated by the DRE, the scammers were operating from and based outside of California, but they were using a mailing address in California. Oftentimes, the address was simply a mail drop. Moreover, a number of timeshare owners have reported that some frauds have promised to sell the timeshares within a set period of time. 3. Fraudsters pose as timeshare buyers and use such advertising slogans as “Will Buy Your Timeshare for Cash”, “Timeshares Wanted”, or something similar, to lure timeshare owners, and then ask the owners for “a small amount of” money (which is often times $1,000 or more) up front to process the paperwork for the transfer. Once those monies are paid, the owners never hear from the scammers again. The false and misleading sales pitches in scams 1 and 2 above, which are typically made from telemarketing boiler rooms using scripts and smooth-talking fraudsters, usually tell the owners that the “resellers” will successfully sell the timeshare(s), and that the owners need only forward to the calling company modest "legal and processing" fees and "closing costs" which can be in any amount, but appear to fall in the average range of $1,000 to $3,000. Because of the anonymity of the Internet and mass marketers, a timeshare resale scam can be started and operated with a website anywhere in the United States or in other countries. Such a scam can be operated by a group of telemarketers who set up accounts for the receipt of payments from timeshare owners/sellers who are fraudulently enticed to authorize payments to the fraudsters. In addition to asking for and charging advance (non-refundable and upfront) fees for "legal and processing" matters and "closing costs", the frauds may ask for and charge advance fees for "advertising", "marketing", "escrow", "appraisal", or some other supposed services. Some Important Points Re: Licensure and "Advance Fees" in California. 1. Licensure -- In California, only licensed real estate brokers (or salespersons employed and supervised by the brokers) may list and sell "timeshares for resale". As noted above, in many cases unlicensed perpetrators of fraud, who promise success as a result of their timeshare resale services, ask for and collect monies up front, and simply pocket the monies paid in advance by the timeshare owners. No License Required for Pure Advertising -- it is important to note that no real estate license is required, and fees can be collected in advance, for pure advertising services. It is much like paying a newspaper or Internet advertising website for their services in "advertising" the availability of timeshares. 2. Advance Fees -- Advance fees for resale services may lawfully be collected by a real estate broker (or salesperson working with the broker) from a timeshare owner only where (i) a written Advance Fee Agreement – with necessary supporting materials -- has been submitted to and reviewed by the Real Estate Commissioner/DRE, (ii) a No-Objection Letter is issued by the department to the broker, and (iii) the advance fees are properly handled and accounted for as "Trust Funds" belonging to timeshare owners. A violation of the rules on advance fees constitutes grounds for disciplinary action against a real estate licensee, as well as grounds for criminal proceedings. Also, it should be noted that the issuance of a “no-objection” letter does not constitute the Department’s approval and/or endorsement of the advance fee agreement, supporting materials, or the services to be rendered. If a licensee were to suggest such approval and/or endorsement, that would be a misrepresentation. What You Can and Should Do to Protect Yourself and Avoid Becoming a Scam Victim. As a timeshare owner, you really need to always be wary and cautious when thinking about retaining the services of people and companies offering assistance in the areas of timeshare resales. Also, and importantly, you should request a copy of the reseller agent’s written contract that you will be required to sign and a written disclosure of all fees and costs, and you are wise to never pay for services or assistance in advance of the performance of services. It is extremely risky to do so. Check with the developer of your timeshare unit or interests and ascertain if they offer a resale or buyback program, or are associated/affiliated with a broker to handle resales. Further, you may be able to do some of the services yourself. If you choose to use the timeshare resale services of third parties for a fee, ask them questions, lots of questions, and then verify, verify, and still verify some more. Please see below for a list of suggested questions. Check them out on the DRE website, at www.dre.ca.gov. Make certain that they are licensed by the State of California. If they are licensed, see if they have been disciplined. Because of the first scam discussed above, where frauds are posing as legitimate licensees, get the name of the person calling or making the solicitation (e.g., the broker or salesperson they purport to be), look them up on the DRE website, locate a phone number for the licensee, call the licensee at that number, and verify that the person who contacted you actually works at the number you called. Check them out through the Better Business Bureau. Check them out through a Google, Facebook, or related search on the Internet. You may be amazed at what you can and will find out doing such searches. Often consumers who have been scammed will post their experiences, insights, and warnings long before any criminal, civil or administrative action has been brought against the scammers. Always obtain information on the purported buyer(s), and make certain that the payments you make before services are rendered are placed in an independent trust account or “escrow” of your choice so that your monies are “secured” until release. The purpose of the next section (“Suggested Questions to Ask”) is to give you some specific, detailed questions that you can ask of those people and entities who/which have offered to assist you in selling your timeshare. Remember that legitimate service providers should not mind the questioning and scrutiny. We understand that this list of questions may be bothersome, difficult, or intimidating for many people to ask. But we include all of them because the more you ask, and the more they answer, the more comfort you will have that you are dealing with a reputable agent and service provider. Even reputable licensees may be “put off” by having to answer all of the questions, but we believe that legitimate and reputable reselling agents will treat you with respect and understand your concern to make sure that you are not being taken advantage of with regard to your timeshare resale. Suggested Questions to Ask (This list is not exhaustive, but it will give you information on which you can make a reasoned decision. Also, it will make the telemarketer know that you are not an easy "mark"). 1. Are you licensed by the California Department of Real Estate? If not, why not? What exemption from the licensing laws do you claim? The licensure requirement cannot be emphasized enough. If they are licensed, ask them for their DRE Real Estate License Number, and check to see if they have been disciplined by the Department (go to www.dre.ca.gov). As noted above, if the person is a real estate salesperson, he or she must work through a real estate broker. Therefore, you will want to question a real estate salesperson about the identity and experience of his or her broker, and then check on the broker’s license at the DRE website shown above. If the salesperson says that he or she can do the work independent of a broker, do not work with or hire that person. 2. How many timeshare resale transactions have you successfully performed? Make certain to get specifics, and then do further checking. 3. Do you have a list of current and past “satisfied” timeshare customers? If so, get it and call them. Ask them if they would use this person or entity again. Do your own background check. And note that even if the person or company is "highly recommended" by so-called satisfied customers, the risk of a scam is not eliminated entirely. For instance, the person(s) providing the positive reference could be the scammer’s friend, a family member, and/or a co-conspirator in the fraud. 4. Do you have a list of business and banking references? If so, get the list and check them out. 5. How long have you been providing timeshare resale services? Alternatively, you can ask, how long have you been in this business? 6. Are you a specialist in the area of timeshare resales? If the answer is yes, ask what specialist qualifications do you have and what does that mean? And what course of study did you undertake to become certified or specialized? 7. What are you actually going to do to market and sell my timeshare? What specific services will you be providing? Get that in writing, and take the time to fully understand what the contract says and what the end result will be before proceeding with the services. Remember to always ask for and demand copies of all documents that you sign. 8. Where and when was your business formed? Ask this question where there is a corporation or other form of business entity involved. You can then look at the website of the California Secretary of State to verify that information and/or to determine if the business is able to operate lawfully in the State of California. You can also check on the agent or agents for service of legal process, and the current status of that business entity. The Secretary of State’s website is www.sos.ca.gov. Warning Signs: Are there Surefire Ways or Red Flags to Detect Fraud? Fraudsters are good at what they do. Many are sophisticated rings using fake websites, large boiler rooms, and important sounding names. Others are just rogue criminals on their newest scam. They all continue to adapt and modify their schemes as soon as their last ones became ineffective. It is really difficult to identify a “surefire” way to detect fraud in the area of timeshare resale fraud. But there are some red warning flags to look out for so that you do not become the latest casualty of the scammers. Those things include: 1. Requests for upfront payments (advance fees) before any services have been provided. 2. Requests that you pay only in cash, or by wire transfer, or by money order or a certified bank or cashier’s check. These forms of payment provide little if any recourse for you in the event you have paid a scammer. It should be noted that if you pay by credit card, you may be able to challenge the charge (if fraudulent) through your credit card company. Talk with your credit card company about their policies in this regard. 3. An unwillingness to meet in person, to give you a business phone number, an actual physical business office address, and/or to provide you with a business card. 4. Advice that you do not need to read or understand an agreement, or any other document, that you have been asked to sign. Be skeptical of claims that “it is just a bunch of legalese”. Always remember that you should not be pressured into entering into any agreement, or to sign any document, that you do not read and understand. If you need to, consult with a lawyer. 5. Claims from the timeshare reselling agent that the market for your timeshare, or timeshare resales generally, is “on fire”, “hot”, “extremely active”, or some similar catch phrase. 6. Unqualified guarantees or promises that the timeshare reseller can get your timeshare sold (and often within a certain period of time), or “money-back” guarantees with respect to those monies you are asked to pay upfront. 7. Requests that you provide personal financial information, including a bank account and/or credit card number, over the phone or over the Internet. 8. Advice that you can simply “walk away” from your timeshare by transferring it to some third party. 9. Statements that you must act immediately, or without any delay. 10. Advice that you should not talk with your family, attorney, accountant, and/or anyone else. 11. Use of a Post Office (“P.O.”) box. 12. The use of lofty or complicated language that you cannot understand. Conclusion. Fraud by predators in the area of timeshare resales requires that you be skeptical, proceed cautiously and do your homework. Do not become the next victim of timeshare fraud. There are legitimate, reputable, licensed and competent professionals in the field. If you need or want their assistance, you need to do some homework. Other Important Resources and Cautionary Notes for Timeshare Owners Who Want to Sell Their Timeshares: The American Resort Development Association, the industry group that represents timeshare developers, has issued a series of advisories on resales to help consumers and timeshare owners. Those advisories can be accessed at www.ardaroc.org/roc/resource-library/default.aspx?id=2787&libID=2807. The office of the Florida Attorney General has issued alerts on timeshare resale fraud, and they can be accessed at www.myfloridalegal.com/timeshares. What You Can Do If You Have Been Scammed (Or if You Become Aware of the Timeshare Resales Scam)? Please report the fraud and file complaints with: 1. The DRE if a real estate licensee is involved, or if the timeshare resales agent is unlicensed. If the person or company is unlicensed, the DRE will file a Desist and Refrain Order. If the person or company is licensed, the DRE will commence disciplinary action, http://www.dre.ca.gov/cons_complaint.html. 2. The California Attorney General, at www.ag.ca.gov/consumers. 3. The District Attorney, Sheriff, local police and local prosecutor in your community. 4. The Federal Trade Commission, at www.ftc.gov. They track and civilly prosecute timeshare resales scammers. 5. Federal Bureau of Investigation (FBI), at www.fbi.gov. 6. The Better Business Bureau in your community. Lastly, consider filing a Small Claims Court action. These are informal courts where disputes are resolved quickly and inexpensively by a judge. As of the date of this warning and alert, you can recover up to $10,000 in Small Claims Court. You represent yourself, and can request a judgment for money damages. If your judgment is based on fraud, misrepresentation, or deceit, or conversion of trust funds, and the judgment is against a real estate licensee, DRE has a Consumer Recovery Fund that may be able to pay your claim. Go to the DRE web site at www.dre.ca.gov, and look under the tab for “Consumers”. Also, the California Secretary of State has a “Victims of Corporate Fraud Compensation Fund” that provides restitution to victims of corporate fraud. Go to the Secretary of State’s web site at www.sos.ca.gov/vcfcf for more information. |
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