Fraudulent Timeshare Resale Scheme
A Florida operation offering a fraudulent timeshare resale scheme receives a lifetime ban from the Federal Trade Commission. Accompanying the permanent ban from timeshare resale services/telemarketing, Pro Timeshare Resales, LLC, surrenders roughly $3.4 million worth of assets. The assets include $1.84 million in cash, real estate worth approximately $600,000, and a Range Rover, Ferrari, Bayliner boat, and Rolex watch. Relinquishing the assets settle the Federal Trade Commission’s $18.7 million judgment.
Adding to the FTC’s ban, the principals and their company may never make a range of misrepresentations during the sale of any other good or service. The ban includes making deceptive claims regarding the total cost of a good or service, the terms of a refund policy, or a product’s performance or efficacy. Furthermore, the owners may not collect on outstanding customer accounts or misuse existing consumer information.
Timeshare Scam Details
Per the complaint, and between 2011 and 2016, the defendants call timeshare property owners, falsely claiming awaiting buyer or renters at a specific price. Or, alternatively, the perpetrators make false promises to sell the timeshares quickly, sometimes within a certain time period.
