Scam Alerts!
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The Better Business Bureau and the NBC affiliate KVOA out of Tucson, Arizona have issued a warning to consumers about a possible timeshare scam being operated by an unlicensed company hiding behind a fake address.
Follows is an except from the report. Please read the full story by clicking HERE. "...Better Business Bureau of Southern Arizona is warning timeshare owners not to do business with U.S. Financial Trust of America, a company claiming a fictitious Tucson address, which is scamming timeshare owners across the country. BBB has received three complaints alleging that US Financial Trust contacted them via telephone, claiming that they had found buyers for the consumers' timeshares. Consumers say that US Financial Trust told them that they would charge an opening and closing fee for the sales of the properties, then wire payment for the properties into the consumers' bank accounts. In each case consumers tell BBB that the company disappeared after they had paid the opening and closing fees..."
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A possible upfront fee timeshare scam has been reported on a Bulletin Board website which appears to be operating under a myriad of different names and shell addresses, which all have a connection to a European internet marketing group operating out of Russia.
Some of the connected names include Samovar Property World, Dacha International, Cossack Investments, Holiday Timeshare, Timeshare-Disposal, Tenerife Bargains, Travel Promotions, Resort Results, and Hollywood Marketing. If you believe that you have been a victim of fraud perpetrated by one of these companies, please take the time to report the crime to the Office of Fair Trading by clocking HERE. Possible New Timeshare Scam: Property Consultant Services and PCS Timeshares out of Boston9/30/2011
A reader has submitted a possible new timeshare scam alert concerning a cold call timeshare offer from a company or individual using the name Property Consultant Services or PCS Timeshares and using an address out of Boston, Massachusetts. The reader reported getting a large offer for her timeshare from an individual claiming to be James Noble. She then received a contract signed by the name Aval Portahouse under the title of legal counsel. She attempted to look up that name with the state bar association of Massachusetts, but was unable to locate any attorney registered with the state with that last name.
When I tried to verify the address being used (111 Huntington Ave. Boston, MA which is the address of a well known commercial landmark in Boston often referred to as the R2D2 building because of its unusual top), I was told by a representative of the building's property management company that they do not have a record of any tenant by those individual or business names. This situation is similar to another scam alert that was released in late 2010 about a con artist using the address of a well known landmark to try and create a sense of legitimacy. You can read that article by clicking HERE. I also contacted the owner of the respected timeshare closing agency out of Orlando, PCS Title, to determine if they were aware of this potential scam trying to piggyback on their reputation. The title company owner stated that without question this individual or group has no affiliation with their company. If you believe that you have been the victim of fraud perpetrated by this individual or company, please take the time to report the crime to the Massachusetts Attorney General by clicking HERE. A possible timeshare scam has been reported about Vacation Seller Services, Inc which operated out of mail box in Orlando, Florida. An individual claims that representatives of the company called him with a promised timeshare sale offer that required the prepayment of $689. for title search and transfer costs. The gentleman states that he was promised the fee would be refunded if the transfer did not complete.
Consumers should realize that fake title search and closing fees are commonly used in timeshare scams. Any legitimate closing company would not require a prepayment from the seller, as any seller fees would simply be deducted from the sale proceeds at closing. A seller should never pay any type of upfront or advance fee for a title search or closing process unless the seller understands that they are upside down on the sale and will actually owe money at closing (for example if the sale is subject to a mortgage and the sale price does not cover the balance due). The Better Business Bureau of Central Florida has also issued an alert about Vacation Seller Services, Inc. stating the the phone number registered with them is no longer in operation and that mail being sent to the company is now being returned as undeliverable. Follows the the alert issued by the BBB: "...According to information in the BBB files, it appears that the company is no longer in business. The phone numbers the BBB had for this company are disconnected, and directory assistance does not have a listing for this company. The BBB's mail to this company has been returned as undeliverable. If you have an unresolved dispute with this company you may wish to seek legal advice..." If you believe that you have been the victim of consumer fraud perpetrated by Vacation Seller Services Inc. or the individuals Naif Nazir or Thomas Dymmek, please take the time to report the crime to the Florida Attorney General by clicking HERE. Possible Timeshare Scam: Con Artist Says He Represents First American Title Insurance Company9/24/2011
A possible new timeshare scam alert has been reported on the bulletin board website TravelTalkOnline warning timeshare owners of a new cold call scheme operating out of California. Consumers receive a telemarketing call from an individual who states that he represents First American Title Insurance Company, one of the largest and most respected title companies in the world.
The caller states he has a buyer for your timeshare, and requests that a fee be paid to close the sale. In this instance, the call originated from 888-213-1152. The individual reporting the crime called a legitimate First American Title Insurance office in Bakersfield, California and was told that First American Title does not buy or sell any timeshare properties. If you believe that you have been contacted by this individual, or have been victimized by a timeshare scam involving an individual claiming to work for First American Title Insurance Company, please take the time to report the crime. You can contact the First American Title Vacation Ownership Division (which offers title and escrow services for timeshare developers). You should also contact the California Attorney General's office to submit a consumer complaint. STLToday.com is reporting that two more telemarketers for Creative Vacation Solutions, a Florida company that has been shuttered by authorities for running a multi-million dollar timeshare resale scam, were indicted in federal court on Wednesday. Joseph Arthur Grizzanti and Kenneth Foote are charged with a conspiracy to commit mail fraud and accused of scamming timeshare owners. Both men were telemarketers with Creative Vacation Solutions, whose employees cold-called time share owners and falsely claimed that they had buyers waiting, the indictment says.
The closing fees that the telemarketers charged the owners varied depended on how desperate those owners seemed, authorities claim. Prosecutors believe the timeshare defrauded consumers for more than $29 million but never arranged a single timeshare sale. Grizzanti is accused of scamming 78 victims out of $156,000, and Foote is accused of scamming 40 out of $79,000. The owner, managers, and other employees of Creative Vacation Solutions have either already been charged, or are awaiting indictments in what has become the most comprehensive prosecution of a timeshare related scam. Officials at The South Carolina Department of Consumer Affairs say they've heard versions of these timeshare scam reports too many times. The scams generally involve companies offering to rent or sell your timeshare that are asking for upfront fees. And usually once the consumer pays the advance fee, the company falls off the face of the earth and the consumer of course is still stuck with their timeshare.
And they're out the fees, too. Many consumers have reported losing as much as $5,000. to these con artists. To report a timeshare resale scam either operating out of, or victimizing a resident of South Carolina- please call the South Carolina Department of Consumer Affairs at 800-922-1594 or visit the state website at http://www.scconsumer.gov. To protect yourself when selling a timeshare, buying a timeshare, or renting a timeshare, always contact a respected and properly licensed real estate broker who offers resale or rental services in the state where your resort is located. And never make any agreements over the phone or online. Always get everything in writing, and have the agreement reviewed by a competent real estate attorney who is familiar with the timeshare resale marketplace. If you need a free consultation with a licensed real estate agent, please take the time to contact an associate with the Progressive Real Estate Agency by phone at 800-868-8290 or by visiting the brokerage website at http://progressiveresales.com. If the real estate agent you speak with cannot help you directly, they will be happy to refer you to someone who can! A reader has submitted a new timeshare scam alert about a timeshare marketing company operating out of Longwood, Florida under the name Summit Marketing Inc. or SMA Timeshare. The reader was concerned because the marketer required a large upfront fee ($900) but claimed to be affiliated with a number of respected organizations and businesses including the American Resort Development Association. The telemarketer also allegedly made claims of having waiting corporate buyers for her timeshare.
Another logo showing on the Summit Marketing website was that of a respected timeshare closing agent operating out of Vero Beach, Florida- Timeshare Transfer, Inc. I am very familiar with this closing agent, so called them to discover if they had any affiliation with Summit Marketing or endorsed them in any way. A representative for Timeshare Transfer Inc. stated without hesitation that they have absolutely no affiliation with the possible scam, and were in fact unaware that their logo was being used. I also left a message for a representative of ARDA, but have not yet gotten a response. If you believe that you have been the victim of a timeshare marketing scam perpetrated by Summit Marketing Inc or SMA Timeshares, please take the time to report the crime to the Florida Attorney General by clicking HERE. As always, fully research any timeshare marketing company before doing business with them or paying any type of upfront fee to sell or rent an unwanted timeshare. Upfront fees are consistently one of the top reported consumer complaints in the state of Florida. If the possible timeshare scam claims to be affiliated with any other known or respected organizations, always take the time to contact the well known company to determine if their images are simply being used without permission. If the con artists are untruthful about their affiliations, you can be assured that everything else they promise is also a lie! MercuryNews.com is reporting another possible timeshare scam being operated by a company called Vacation Timeshare Sales which operated out of Stone Mountain, Georgia and claimed to be located at an address of 925 Main St., Suite 300-05, Stone Mountain, GA. The local Better Business Bureau received complaints and determined that no such business existed at that location. Also, the Georgia Secretary of State has no record of an active corporation under that name, but does show a dissolved business that was registered previously.
If you believe that you have been the victim of consumer fraud perpetrated by Vacation Timeshare Sales, please take the time to report the crime to the Georgia Attorney General by clicking HERE. KAJ18 out of Kalispell, Montana has issued a consumer alert regarding reports of a timeshare scam being operated by a company calling itself City Resorts claiming to be located in Las Vegas, Nevada. The company calls timeshare owners claiming to have located a buyer. The company then asks for money for closing costs.An elderly couple in Billings who was anxious to sell to pay some hospital bills fell victim to the scam.
And so he did a couple interviews with what he assumed was the FTC and then they said that they needed a check for $3249. as a processing fee and so he sent that money to them and now he's not heard back from the company," the BBB's Colleen Smith said. If you believe that you have been the victim of consumer fraud perpetrated by this company, please take the time to report the crime to the Attorneys General of both Nevada and Montana, as well as the Attorney Generals of the state where you reside and the state where your timeshare is located. You can report timeshare scams to the Attorney General of Nevada by clicking HERE. You can report timeshare scams to the Attorney General of Montana by clicking HERE. You can access contact information for all the United States Attorneys General by clicking HERE. |
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