IBEX INC - (SCAM)

[TUGBrian]

might want to split your post up into paragraphs...its extremely difficult to read!

but congrats on not falling for the scam!

 

[Cooper25]

Hi there - I am a new member and first time poster. I also was contacted by Ibex quite awhile ago but was not interested in selling at that time. Now that I am interested in selling I contacted them. They said they had a major buyer who was buying all the timeshares/vacation clubs that he could - partly because Mexico was offering Mexican Nationals big tax credits for purchasing anything that was owned by non-Mexicans. My membership was a vacation club through RCI purchased at Sandos Carcol in Mexico after a many mimosa breakfast. Yes, they plied me with alcohol and sunshine and I signed. Anyway, Ibex offered me 16,900US for my vacation club (I paid around $8000US). I told them I would pay no money up front and they said that was fine and that I could pay their commission once I had received my $16,900. I said okay and signed a sales agreement. They then said I would be dealing with Crossborder as my escrow agent. Crossborder sent me a Citibanamex bank statement showing that the buyer had deposited 16,900 for the sale plus $3000 to Crossborder for closing costs PLUS an additional $2950 to reimburse me for my getting a Mexican tax number. A man from Crossborder contacted me and said that I had to get the Mexican tax number before I could sell anything registered in Mexico. AND that I had to pay that money upfront. They said there was two ways to do this, 1 go to Mexico in person and hire a lawyer there to help me obtain the Tax number (I am in Canada, with a job so obviously not possible) OR 2 they could refer me to a lawyer in Mexico to act on my behalf. I said sorry, no deal, I do not have $2950US. I said that surely if the buyer wanted the property so badly then they would pay for this - they said that was a conflict of interest and that no one could pay for it on my behalf, I had to do it myself They called back a couple days later and said they could offer me a hardship rate of $1770. Of course, BIG red flag there - what government offers such a discount? Anyway, I still thought this could be legit because by now it has been a month or two and I have spoken to at least 5 different people from two different companies in two different area codes (Chicago and California) and have received many, many official-looking forms and emails. I thought, if this was a scam then then it was a lot of work to split my little $1770 among them all. So I agreed to take the paperwork to my bank. Crossborder sent me the information to wire $1770 to a lawyer in Mexico which included his name, address and bank account number at Citibanamex in Mexico. So I went to my bank and asked about it and if they thought it was legit. My bank "fraud squad" said NO, it looks very sketchy and not to send the wire. So I informed Ibex that I would not be sending the wire and that I would go to the local Mexican Embassy and see about obtaining this tax number on my own. Well, now she is threatening that I signed a legal sales document and that I agreed to use the Crossborder lawyer and all that was binding and that I would be incurring a huge legal bill if I renege on this deal. That just happened today so I will wait and see what happens next. Sorry to go on so long but I wanted to tell my whole story in case it helps anyone else. I cannot believe I was so close to losing $1770 to a scam - I am fairly intelligent, a University graduate and I am constantly warning my mom about internet and telephone scams and yet, I came so close to falling for one - embarrassing!!!

P.S. Is there anyway to change the user name on here? Someone else registered for me and I don't like their name being on these posts! Also I just noticed that all your posts are from years ago so I wonder how they could keep this scam going for so long??!!

 

[DeniseM]

Click on CONTACT US at the bottom of the page, and request a different name.

They keep going for years, because the US authorities have no jurisdiction in Mexico, and because people keep falling for the scam.

 

[Cooper25]

Click on CONTACT US at the bottom of the page, and request a different name.

They keep going for years, because the US authorities have no jurisdiction in Mexico, and because people keep falling for the scam.

Ooops - I just noticed that I was looking at the "member joined" date, not the date of the post - the posts are actually current

Thanks for your reply.

 

[Cooper25]

might want to split your post up into paragraphs...its extremely difficult to read!

but congrats on not falling for the scam!

Sorry...I'm new to this, but yes it was alot all at once.

 

[Karen G]

Thanks for sharing your story with us. Hopefully it will help others avoid costly mistakes. I'm so glad your bank was able to stop you from wiring that money.

 

[Cooper25]

Thanks for sharing your story with us. Hopefully it will help others avoid costly mistakes. I'm so glad your bank was able to stop you from wiring that money.

I am glad as well but when I told Ibex that my bank wouldn't send it she said to go to another bank and to get it done immediately or I will be sued - yikes!!

 

[Karen G]

I am glad as well but when I told Ibex that my bank wouldn't send it she said to go to another bank and to get it done immediately or I will be sued - yikes!!

Not a chance of that happening! If it were me, I'd have no more contact with them in any form. This seems similar to the recent IRS phone scam where people were told they were going to be arrested if they didn't pay up.

 

[Cooper25]

Not a chance of that happening! If it were me, I'd have no more contact with them in any form. This seems similar to the recent IRS phone scam where people were told they were going to be arrested if they didn't pay up.

No, I don't plan on having any more contact. I am still a little shaken by the whole thing - they are so damn convincing, it was really astonishing how legit they seemed!

 

[MelodyP]

Hi there - I am a new member and first time poster. I also was contacted by Ibex quite awhile ago but was not interested in selling at that time. Now that I am interested in selling I contacted them. They said they had a major buyer who was buying all the timeshares/vacation clubs that he could - partly because Mexico was offering Mexican Nationals big tax credits for purchasing anything that was owned by non-Mexicans. My membership was a vacation club through RCI purchased at Sandos Carcol in Mexico after a many mimosa breakfast. Yes, they plied me with alcohol and sunshine and I signed.

Anyway, Ibex offered me 16,900US for my vacation club (I paid around $8000US). I told them I would pay no money up front and they said that was fine and that I could pay their commission once I had received my $16,900. I said okay and signed a sales agreement. They then said I would be dealing with Crossborder as my escrow agent. Crossborder sent me a Citibanamex bank statement showing that the buyer had deposited 16,900 for the sale plus $3000 to Crossborder for closing costs PLUS an additional $2950 to reimburse me for my getting a Mexican tax number.

A man from Crossborder contacted me and said that I had to get the Mexican tax number before I could sell anything registered in Mexico. AND that I had to pay that money upfront. They said there was two ways to do this, 1 go to Mexico in person and hire a lawyer there to help me obtain the Tax number (I am in Canada, with a job so obviously not possible) OR 2 they could refer me to a lawyer in Mexico to act on my behalf. I said sorry, no deal, I do not have $2950US. I said that surely if the buyer wanted the property so badly then they would pay for this - they said that was a conflict of interest and that no one could pay for it on my behalf, I had to do it myself. They called back a couple days later and said they could offer me a hardship rate of $1770. Of course, BIG red flag there - what government offers such a discount?

Anyway, I still thought this could be legit because by now it has been a month or two and I have spoken to at least 5 different people from two different companies in two different area codes (Chicago and California) and have received many, many official-looking forms and emails. I thought, if this was a scam then it was a lot of work to split my little $1770 among them all. So I agreed to take the paperwork to my bank.

Crossborder sent me the information to wire $1770 to a lawyer in Mexico which included his name, address and bank account number at Citibanamex in Mexico. So I went to my bank and asked about it and if they thought it was legit. My bank "fraud squad" said NO, it looks very sketchy and not to send the wire. So I informed Ibex that I would not be sending the wire and that I would go to the local Mexican Embassy and see about obtaining this tax number on my own.

Well, now she is threatening that I signed a legal sales document and that I agreed to use the Crossborder lawyer and all that was binding and that I would be incurring a huge legal bill if I renege on this deal. That just happened today so I will wait and see what happens next.

Sorry to go on so long but I wanted to tell my whole story in case it helps anyone else. I cannot believe I was so close to losing $1770 to a scam - I am fairly intelligent, a University graduate and I am constantly warning my mom about internet and telephone scams and yet, I came so close to falling for one - embarrassing!!!

For what it's worth, I think the threat of the legal bill is nothing more than attempting to scare you into giving them money. I'm pretty sure that if you just put them on ignore they will eventually go away. (I hope I'm right in this, but the fact that a) they're in the US and you're in Canada and b) they are simply scamming - makes me think that you're safe.

 

[Cooper25]

I own a timeshare with Sunset Vacation Club. It is in Playa del Carmen Mexico. Called Sunset Fisherman. I have been approached by a company called IBEX Inc. on a call to sell this timeshare. I looked online to search the company and while there is such a company in Glenview Illinois I am somewhat leery. They are saying that they will purchase it on "behalf of the buyer"and do not seem to be asking for any money upfront. (I would not pay any money up front in any event). It is basically transferring our membership which is a great week (week 10) but we never use this timeshare. Has anyone ever dealt with this company or had any transactions with them. thank you for the time anyone takes to reply.

I was also contacted by Ibex about my vacation club - they talked a good game and sent all kinds of forms and even a bank statement in my name showing my funds were in escrow...then they hit with me with a $2950.00US fee that I had to pay to get a Mexican tax number - now that I am refusing they are saying I legally agreed to this contract and they will sue me!! So beware - the first thing I said to them was "I am not paying any money up front" and she said "Of course not, we get a commission after you get your money!

 

[Cooper25]

We have contacted Hacienda Tres Rios to ask them about the "story" we were told about controlling shares. Oddly they have not asked us for any money, none. In fact he said that he did not require any money. There was a 6% fee but we didn't have to pay that...or he deducted it off the cheque, not totally sure of that. In that way, this is different. We won't be duped, and won't send any money, but if we get a cheque..awesome, but I am not optimistic. Diane

Yes they told me no money was needed up front then strung me along with fancy looking forms and talk and even showed me a bank account in Mexico in my name being held by the escrow company - everything seemed legit until they told me the last little thing I had to do was send in $2950.00US to get a Mexican tax number and said as soon as I did that they could release my money. I finally refused at the last minute, but it was so convincing that I almost went for it.

 

[LannyPC]

Yes they told me no money was needed up front then ...they told me the last little thing I had to do was send in $2950.00US to get a Mexican tax number ...

There's quite the contradiction.

 

[famy27]

Worry not. Scammers are not going to sue you for breaking a fake contract. You did the smartest thing possible when you refused to wire money to them. Break off all contact with them. Do not answer their phone calls or reply to their emails. They will go away and move on to an easier mark.

 

[theo]

Worry not. Scammers are not going to sue you for breaking a fake contract. You did the smartest thing possible when you refused to wire money to them. Break off all contact with them. Do not answer their phone calls or reply to their emails. They will go away and move on to an easier mark.

Yes, this.

If you just take a step back and think about it logically and objectively --- is any scammer operation anywhere really and truly interested in ever potentially being involved in any legal proceedings? I think not. Their much bigger real concern is actually the prospect of potentially being named as a defendant.

 

[Diane Beard]

I own a timeshare with Sunset Vacation Club. It is in Playa del Carmen Mexico. Called Sunset Fisherman. I have been approached by a company called IBEX Inc. on a call to sell this timeshare. I looked online to search the company and while there is such a company in Glenview Illinois I am somewhat leery. They are saying that they will purchase it on "behalf of the buyer"and do not seem to be asking for any money upfront. (I would not pay any money up front in any event). It is basically transferring our membership which is a great week (week 10) but we never use this timeshare. Has anyone ever dealt with this company or had any transactions with them. thank you for the time anyone takes to reply.

I own both at SUnset Fishermen and Hacienda Tres Rios and was approached by IBEX. If you Google the address you will see that it is an empty field. We called our lawyer who said that the letter was written using some legaleze but not written by a lawyer for sure. He says that we should run!! When I got another call from the guy I told him that our lawyer had concerns, and if they were prepared to give us a "real offer" we would most certainly look at it, but the letter of intent left us skeptical. He never called back. Apparently from what I read, eventually they ask for money...which they are not allowed to take off the purchase price, but rather you need to send it to them....hmmmm. That's the scam and it is most definitely a scam.

 

[Diane Beard]

Larry, I would like to hear more details about the transaction. We have been approached and offered $250,000 for our Hacienda Tres Rios 2 bedroom. We have not moved forward with anything yet (so have not been told about the up front money); however, we want to thoroughly check out this company with forums like this and of course our contacts at Hacienda Tres Rios before moving forward. We would love to sell it, but don't want to lose more money and still have the property. Can you give more details?
Diane

Hey folks I think "Larry" is a plant to this thread...satisfied customer he says with no specific details and no response to my request for more. I have done research and contacted a lawyer, so know for sure...LARRY you are trying to convince folks that this "too good to be true" is true, but we all know that you can't unload these fractional ownerships or time shares.

 

[theo]

Hey folks I think "Larry" is a plant to this thread...satisfied customer he says with no specific details and no response to my request for more. I have done research and contacted a lawyer, so know for sure...LARRY you are trying to convince folks that this "too good to be true" is true, but we all know that you can't unload these fractional ownerships or time shares.

Yes, Larry was effectively outed and thoroughly dissed over two months ago now after his two lame and unconvincing IBEX shill posts, likely never to return.
As previously pointed out in this thread by moderator Karen G (see post #42), "One Post Larry" actually had an IP address in Mexico. Surprise, surprise...

No one here was buying the bull$H!t that Larry was shoveling. Larry needs a much more gullible audience --- and I believe he very quickly learned exactly that.
Frankly, I also thought that you might have been part of Larry's "tag team", since both of you registered and posted (each for the very first time and each only posting about IBEX, each within a 24 hour period back in mid-March, with neither of you being heard from again since --- until just now). Perhaps those events are merely coincidence, but personally I'm not much of a believer in coincidence.

 

[steve f]

We too were approached by IBEX in March regarding out Master Suite at Sunset Fishermans. Same old story. Unreal price offered. No upfront fees - yet. My contact at Sunset warned me. I called CitiBanamex in Mexico. They have NO KNOWLEDGE of Crossborder investments (The closing/escrow company that would be handling the sale-in California). Crossborder sent me a form from Chris Valdez requesting more personal info than I was willing to give. Tax id #, drivers license #, etc. I told them no. Name and address is all you need - and my bank will send YOU wiring instructions for my funds when received. According to Don at IBEX, the buyer was an investor from Tiawan that was "buying up all they could at this resort as a takeover" They "had many business dealings there and needed places for their clients to stay". When I asked why they weren't buying up the ones listed on the internet, I was told "oh, that's easy-- they don't want the resort to know they're doing a takeover". The contract they sent me for signing took 2 emails to them to get corrections made. My attorney recommend some additional language to the contract, which they said would be "no problem". Never saw an updated contract. In the final days before finalizing the sale, we were instructed to "go to the Mexican Consulate in Orlando and get a non resident tax id #, as this is needed to sell property in Mexico". My wife called the Consulate. They never heard of such a thing. Sunset Resorts told us that any taxes owed are paid in our Maintenance fees. It is not selling real estate. It's personal property. Time usage. Names they use AT IBEX are Emma Stevens, Rebecca Teffeteller, and Don somebody - who I'm guessing is the mastermind of this 100% SCAM!!!! RUN AS FAST AS YOU CAN FROM THIS!

 

[SubVet608]

Is there a place (thread) to post the names of companies that attempt to scam timeshare owners? I've searched the site to no avail, but perhaps inserted the incorrect search criteria. I received a call from Gold Coast Real Estate, Inc., and I'm sure, as IBEX is, they are just another scam company. Their address is 1007 Amsterdam Ave, New York, NY 10025.

I would think there would be a thread here that identifies these type companies, but, alas, I could be wrong.

 

[TUGBrian]

Sadly with the frequency at which companies change names...relying on a list to determine if a company is or isnt a scam is a very poor idea. instead one should just avoid any company that hits the following red flags..no matter what the name is.

http://tug2.net/timeshare_advice/timeshare_company_legitimate.html

 

[RX8]

And yes, your instincts are correct as Gold Coast is a scam. Their website was created just over a month ago.

 

[LannyPC]

Their address is 1007 Amsterdam Ave, New York, NY 10025.

Have you tried Googling their address using Google maps or street view? A lot of the (fake) addresses of these scam companies are usually P.O. boxes or abandoned buildings.

Of course, if you took TUG Brian's advice and checked the link he gave you about how to identify a scam, it won't matter whether their address is legit or fake. Stay away from them if they match the red flags mentioned.

 

[jimori]

Been working with a Christopher C. Chin with Gold Coast Real Estate with the address of 1007 Amsterdam Ave., New York, NY 10025. Received "Sales Agreement and Appraisal Information form, which we signed. Just received a call from the "Broker", a Richard Brown, who now states we have to pay a SRE Permit Fee of $3,705.14, even though Christopher C. Chin promised we would not need to pay anything upfront. There is a Christopher C. Chin and a Richard Brown licensed as real estate brokers in New York State, but addresses do not match Gold Coast. We also received a Citibanamax Account Summary showing the funds are in the account, but it appears this could be a legitimate account with actual money in it. However, I now doubt I'll ever actually receive it! Who can I contact to confirm legitimacy? I received a call from the Attorney General of Mexico warning me that our names [my wife and I] are on a list scammers are using to contact us about selling our timeshare. Current offer is hard to turn down as it's the highest offer so far, but if it's fake, what does it matter since we would receive it!

 

[Karen G]

Who can I contact to confirm legitimacy?

There is no one to call because it is not legitimate! It's a scam and you'll lose any money you give them. Don't pay them anything and don't have anything more to do with them.