Major sweep against time share resellers nets four arrests, closes seven companies

This link should be posted to every "has anyvbody heard of" post

It;s external confirmation of the Tug consensus including the confirmation of criminal charges . . .

After all most of the driveby posters have already sipped the Kool-Aid, one even admitted to being scammed 7 times and still looking for the magic pill . . . . .

Perhap this one to be added to Denise's C & P stock answer to the same question

www.myfloridalegal.com/timeshares.

List of companies - you will recognize several of these names:

International Resort Sellers LLC

U.S. Timeshare Management - TUG discussion

U.S. Vacations, of Largo

Factional Ownership Liquidators Inc., of West Palm Beach

Audit Recovery Systems Inc., of Boca Raton - one of the principals in this company actually posted on TUG.

Perhaps if these PCC's can be shut down the resale market prices will rebound a small bit. I think the prices now (especially on eBay) are artificially depressed to nothing because so many of the TS sold are being dumped by the PCC's and not by people who have sunk money in them. Sure the economy stinks and people don't have lots of money for luxuries, but I think the crime of the PCC's extends to the depressed prices in the resale markets.

When someone buys a TS on eBay for $1, is it similar to buying "HOT" merchandise?

If timeshare developers really care about the value of their product, they should be putting their considerable punch behind destroying these frauds too.

another article with more names...and a fantastic new website!


http://www.miamiherald.com/2010/09/24/1839683/state-getting-tough-on-timeshare.html

it's no fraud when people get what they pay for.(ie with PCC)

Cheryl20772 said:

I think the prices now (especially on eBay) are artificially depressed to nothing because so many of the TS sold are being dumped by the PCC's and not by people who have sunk money in them. Sure the economy stinks and people don't have lots of money for luxuries, but I think the crime of the PCC's extends to the depressed prices in the resale markets.

When someone buys a TS on eBay for $1, is it similar to buying "HOT" merchandise?

Click to expand...

The PCC's are reverse spinning the same story that got the original purchasers to pay full retail on an impulse, pressing the opposite buttons

The units for sale are from people who have sunk an additional $ 3500 on top of their original purchase price to be free of the maintenace fees, and are doing the same due dillegence as they did on the original purchase

Although deceptive, dispicable , dubious the activity of the post card company is not necessarily illegal, they skirt real estate law by taking possesion in a POA document. If never resold at any price - (keep in mind they are $ 3500 to the good at a zero resale price) they may start paying to find a new user to keep the house of cards from tumbling - When they don't sell or transfer to a new bonafide owner then there is a fraud/crime

The links to the articles may expire - can you snag them as PDF files and post those?

I read the article - I'm not sure the targets were true PCC's (we'll take your timeshare off your hand if you pay us X dollars, then we'll resell it for a few bucks) but rather the fraudulent folks who say "we have a buyer for your time share, send us $2300 for title search and <insert BS fee here>. Then the "buyer" magically backs out.

One actually gets a desperate owner out of their week, the other doesn't and is a true crime.

Cargojon said:

I read the article - I'm not sure the targets were true PCC's (we'll take your timeshare off your hand if you pay us X dollars, then we'll resell it for a few bucks) ....

One actually gets a desperate owner out of their week,......

Click to expand...

Unless the week is never actually transfered

It atually happened "Wanted Weeks"

There was also a Craigslist posting of a PCC trying to dump 100's of dog weeks in a single bulk transaction . . .

Rent_Share said:

they skirt real estate law by taking possesion in a POA document.

Click to expand...

I'm not sure that they avoid real estate law by using the POA; to the contrary I think that exposes them. Because at that point in a legal relationship representing the actual owner in a real estate transaction.

If they take actual ownership so that they are then selling something they own themselves, then they would avoid those legal ramifications.

Or course, if they follow that model, they leave themselves financially exposed if they can dispose of the property.

T_R_Oglodyte said:

I'm not sure that they avoid real estate law by using the POA; to the contrary I think that exposes them. Because at that point in a legal relationship representing the actual owner in a real estate transaction.

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It's a very narrow line subject to interpretation and the intent of the parties

The companies cited by the Florida AG are NOT PCC's...

Cheryl20772 said:

Perhaps if these PCC's can be shut down the resale market prices will rebound a small bit.

Click to expand...

Not to split hairs, but the companies cited above as recently receiving the legal attention and action of the Florida AG are not actually PCC's at all.

The upfront fee "reseller" (i.e.,"listing") outfits cited by the Florida AG collect upfront fees (...yes, like a PCC) but, unlike a PCC, the upfront fee parasites make no claim or assertion that they are going to "take ownership", either by direct deed transfer or by future sale to someone else via a Power of Attorney.
The upfront fee parasites are an even lower life form than PCC's (in biological terms, upfront fee "listing" companies are lower than sunken whale excrement, imho, since there is absolutely no possibility of a sale or transfer --- and they know it).

pjrose said:

The links to the articles may expire - can you snag them as PDF files and post those?

Click to expand...

Here's the link to the website Brian mentioned that's listed in the Miami Herald article : Timeshare Resale Fraud


Richard

theo said:

Not to split hairs, but the companies cited above as recently receiving the legal attention and action of the Florida AG are not actually PCC's at all.

The upfront fee "reseller" (i.e.,"listing") outfits cited by the Florida AG collect upfront fees (...yes, like a PCC) but, unlike a PCC, the upfront fee parasites make no claim or assertion that they are going to "take ownership", either by direct deed transfer or by future sale to someone else via a Power of Attorney.
The upfront fee parasites are an even lower life form than PCC's (in biological terms, upfront fee "listing" companies are lower than sunken whale excrement, imho, since there is absolutely no possibility of a sale or transfer --- and they know it).

Click to expand...

Theo, I understand the difference you and others are pointing out. It's true, and these scum bags are not causing the depressed resale market. The ones who are contributing to it are helping create the pool of people who can't sell for a better price. I hate to tell you guys, but the upfront fee scammers are using post cards as well as the robo call to bait their victims. I've gotten more than one post card stating they want to meet with me to arrange for the sale of my timeshare. I've had more than one call telling me they have someone with money waiting to buy my timeshare. I'm certain some of those post cards were not from people who would take possession of my deed. Anyway, I do understand that there are two types of scammers and one takes the deed and the other doesn't.

The last one who called I asked, why would someone buy my timeshare through you for a nice price, when he can buy one just like it on eBay for $1? He said really??

I think I sank his battleship