FTC Cracks Down on Timeshare Resale Scams
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Hemera/Thinkstock(WASHINGTON) — Law enforcement agencies are working to stop travel and timeshare resale scams. The Federal Trade Commission announced on Thursday 191 actions brought against 184 individuals facing criminal prosecution by U.S. Attorneys and local law enforcement. The announcement includes 83 civil actions brought by 28 states.
Fraudulent timeshare resellers lure consumers into paying hefty up-front fees, claiming to have interested buyers ready to pay for the properties, but consumers often get nothing.
The scammers caught by the FTC for these recent actions defrauded victims of more than $14 million. Many of the victims are elderly or in financial distress, the FTC said.
“Con artists take advantage of timeshare owners who have been in tough financial straits and are desperate to sell their timeshares,” Charles A. Harwood, acting director of the FTC’s Bureau of Consumer Protection, said during a press conference in Miami. “They persuade owners to pay fat up-front fees by saying they have someone ready to buy the property, but that’s a lie. Our message to timeshare owners is simple: never pay for a promise, get everything in writing first, and pay only after your unit is sold.”
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