Wash State AG settles with PCC - orders units back to resorts!

sadly, only a 1.2m fine...but it does have some silver lining.

700,000 of this fine is going to a fund to allow folks who were taken by these folks to recoup some lost money.

as I read the AG's summary/settlement...it appears that one must report as a victim to the AG's office to attempt to qualify for a refund from this fund...and you must apply by 1/1/2015!

It also appears to mandate that said PCC make its best effort to transfer the units in the bogus viking ship corps back to the HOAs.

So any HOA that has been dealing with any of these companies should get on the ball ASAP to get your dead units back, you also must apply by January 1, 2015

SUMMIT MARKETING ASSOCIATES LLC
FINANCIAL RECOVERY SOLUTIONS LLC
WE COLLECT TIMESHARES LLC
TIMESHARE FREEDOM
DIRECT TRANSFERS LLC
PRUDENTIAL WEST LLC
SAVE HANDS TRANSFERS LLC
APEX PROFESSIONALS LLC
CORNERSTONE CLOSINGS LLC
GREAT TIMESHARE BARGAINS LLC
MARMAC ETT LLC
EAGLE VENTURE ASSOCIATES LLC
ELLIOTS WORLD LLC
GLOBAL ACQUISITION ASSOCIATES LLC
GOLDEN ROYALTY ADVISORS LLC
LUDDERS WINE LLC
POY DEVELOPERS LLC
THE GOLDEN GRILL LLC
THE MIDDLE SEAT LLC
THE THROWN APPLE LLC
VAN DRIVERS CONSULTING LLC
CALLAHAN AND ZALINSKY ASSOCIATES LLC
ST HAMM MANAGEMENT LLC
REALTIMESHAREHELP.COM
TIMESHARE FREEDOM LLC
TIMESHARE HOLDING COMPANY LLC
VACATION CHOICES LLC
CHOICE RESORTS VACATIONS LLC


So please forward this link or the PDF to your HOA, we believe there are literally thousands upon thousands of intervals in "limbo" here, and this will be the easiest shot at resort hoa's recovering them.

the full summary is provided int he PDF attached to the first post now.

Personally, I would much prefer to see these two behind bars...

It is disappointing that Jonathan and Christine Gibbs weren't instead criminally prosecuted for fraud and, accordingly, aren't already en route to prison.

The couple Gibbs have been playing this game for some years now --- brazenly and obviously profitably. Perhaps it is a limitation of law in the state of Washington which somehow made it difficult or impossible for the state to pursue a criminal fraud case against them; I can't and don't profess to know. In any event, a civil penalty and settlement just doesn't quite seem to be sufficient consequences for these two, IMnsHO.

Do you truly think the FEDERAL INCOME TAXES were paid?

That is WHY Al Compone went to prision.

If a point system goes bust, is not that the same thing?

I guess this is a continuation of this thread:

http://tugbbs.com/forums/showthread.php?t=200935&highlight=Washington

Looks like the alleged "victims" (PCC customers) got what they wanted?

id gander those that are still getting MF bills from resorts who still recognize them as owners would disagree with you.

Brian:
Suppose a TUG buyer does not pay the MFs, can the TS send me the MF bills or the person I bought them from?

if you never successfully transferred ownership you would still be the owner as far as the TS was concerned.

Wait. What fraud are you talking about? When developers, using the tactics that they do, sell to people worthless off-season timeshares for which people are stuck paying for the rest of their lives, that's not fraud? If these off-season timeshares were worth anything at all, the viking ships would not have a business. So then someone comes around saying hey, let's transfer your ownership to a temporary corporation, they become culpable? Sure, high season owners are very happy to rely on off-season owners for part of the cost. Management companies need off-season owners because without the off-seasons being raped and squeezed, they would not have business. However, in reality the culpability is with the developers that created this pyramid scheme to begin with and with the rest of the industry that supports it.

This is a common misconception - the developers don't OWN the timeshare resorts - the owners do: you and me.

So when a timeshare goes to a Viking Ship, it's the other OWNERS who are punished, and the other OWNERS who must pay higher maintenance fees, to cover the timeshares that are "lost."

Regardless of how you feel about the developer, it makes NO sense to punish other timeshare owners, who are in the same boat that you are.

This is a website for timeshare owners, and the vast majority of us use, and enjoy, our timeshares. Maybe some of us got screwed by the developer, but once was enough - don't expect us to get on board with this scheme.

That is why a point structure where you pay MF per point is a better way to deal with the shoulder season. You get more MF $$ from the owners who have prime summer weeks, the owners with shoulder and off season pay less points for the same 2 BR and thus less MFs. You don't have people wanting to abandon their off season weeks because they are given a reduced rate of MF $ for it, yet they still have value.

That is why the pure point system program works, and why fixed week convert to points, not so much.

Wyndham finally figured that out and now all new resorts are all UDI, which is pure points and no underlying week. It makes the off season and bright red season pay an appropriate amount of $$ and not the exact same.

gibbs

I know I remember some some of the week I bought off ebay and since sold had the name gibbs on it. Had a bad experience where they said I would get the current years usage on it included and when the transfer was complete I called to use the week and as a floating time resort they said all their were no more weeks available. I filed a bbb complaint it did no good other than them saying my claim was bogus and asking the bbb to remove it, which i continued to dispute. I gave up on the endeavor and called it a learning experience.


Mr. Olson

Please forgive me for taking so long to get back to you. After researching
this for you, I have found that this is completely transferred, so you will
need to call and bank the 2006 week at this point. You are correct about
the 2007 maintenance fees. I have included the bookkeeper in this
correspondence so that she is aware of the situation and I will send her a
refund request momentarily. Thank you.

Sarah Blauvelt

Cornerstone Closings

"Accommodating all of your timeshare closing needs"



1001 Cooper Point Rd SW #140-223.

Olympia, WA 98502-1107

Phone 360.705.1503 Fax 877.287.0093



This message is confidential, intended only for the named recipient(s) and
may contain information that is privileged or exempt from disclosure under
applicable law. If you are not the intended recipient(s), you are notified
that the dissemination, distribution or copying of this information is
strictly prohibited. If you received this message in error, please notify
the sender then delete this message.




-----Original Message-----
From: dustin olson [mailto:xxxxx@hotmail.com]
Sent: Tuesday, December 05, 2006 7:26 PM
To: dlee@cornerstoneclosings.com
Subject: RE: Sedona Springs Arizona #110037922098

i would like to know what the progress is of the timeshare transfer and
would like to know when the 2006 week will be banked to my rci account. i
sent my rci account number to you previously. if you need it again it is
xxxxxxxx. the ebay auction stated, as did the contract, that i would be
able to have the 2006 usage banked and it was factored into my decision of
how much to bid.
another question i have is about the amount i paid which was for the 2007
maintenance fee. i paid to you 743 which was for the payment of the 2007
maintenance fee. i believe the actual amount of the fee for 2007 was 680.
please look into these concerns and get back to me.

>From: "Desiree Lee" <dlee@cornerstoneclosings.com>
>To: "'dustin olson'" <oxxxx@hotmail.com>
>Subject: RE: Sedona Springs Arizona #110037922098
>Date: Mon, 16 Oct 2006 12:38:49 -0700
>
>Sorry, it is Sedona Springs Arizona. I will get the process started to get
>your week banked as well.
>
>Thank you,
>
>Desiree Lee
>
>Cornerstone Closings
>Office: 360-705-1503
>Fax: 877-865-7480
>
>1001 Cooper Point Rd SW #140-223
>Olympia, WA 98502-1107
>
>This message is confidential, intended only for the named recipient(s) and
>may contain information that is privileged or exempt from disclosure under
>applicable law. If you are not the intended recipient(s), you are notified
>that the dissemination, distribution or copying of this information is
>strictly prohibited. If you received this message in error, please notify
>the sender then delete this message
>
>-----Original Message-----
>From: dustin olson [mailto:xxxxx@hotmail.com]
>Sent: Friday, October 13, 2006 9:25 PM
>To: dlee@cornerstoneclosings.com
>Subject: RE: Imperial Hawaii Waikiki eBay Item #110037922098
>
>just to verify. the timeshare we are purchasing is at the sedona springs
>resort. the ebay item number referenced in your subject is the correct
>auction. just is not the hawaiian resort named.
>Also, in the auction it stated that the 2006 usage would be able to be
>banked to my rci account but had to be done before the end of the year. I
>am a member of rci currently and would like you to ensure that this
>happens.
>
> look forward to hearing of the progress of our transaction
>
>dustin and ami olson.
>
>
> >From: "Desiree Lee" <dlee@cornerstoneclosings.com>
> >To: <xxxxx@hotmail.com>
> >Subject: Imperial Hawaii Waikiki eBay Item #110037922098
> >Date: Fri, 13 Oct 2006 11:46:10 -0700
> >
> >Hello Mr. & Mrs. Olson:
> >
> >
> >
> >I am writing you to let you know that we have received your signed
>contract
> >and I do show that we have received your PayPal payment. We will
> >immediately begin the transfer process which can take up to 90 days.
> >
> >
> >
> >At this point, I am going to hand your contract over to Marianne Smith in
> >my
> >office. She will handle the final closing for you and will act as your
> >point of contact for any issues that may arise or just to give you status
> >updates. You can reach her by calling (360) 705-1503 ext 102 or by email
> >at
> >msmith@cornerstoneclosings.com.
> >
> >
> >
> >If you would like to schedule a vacation; I can help you. I can make
> >reservations for you, but it will be booked as a guest week. You can
>just
> >send me an email with all of the information (number of people, room
>size,
> >view request, special accommodations, ect.).
> >
> >
> >
> >Also, I want to make a real quick note about feedback. EBay only allows
> >feedback to be left for 60 days. As I mentioned earlier, closing can
>take
> >up to 90 days. Due to the fact that we have had several concerns on this
> >subject, we are informing our clients that we would be just as pleased
>with
> >feedback left about the level of customer service we have provided and
>the
> >flow of communication. Please feel free to mention that the transfer
> >processes is still pending.
> >
> >
> >
> >On that note, I would just like to say thank you once again. If you ever
> >need anything, please feel free to send me an email or you can call me at
> >(360) 705-1503 ext.107. I am the eBay Sales Coordinator and also
> >Jonathan's
> >personal assistant. I hope you have a wonderful day!
> >
> >
> >
> >Desiree Lee
> >
> >Cornerstone Closings
> >Office: 360-705-1503
> >Fax: 877-865-7480
> >
> >1001 Cooper Point Rd SW #140-223
> >Olympia, WA 98502-1107
> >
> >This message is confidential, intended only for the named recipient(s)
>and
> >may contain information that is privileged or exempt from disclosure
>under
> >applicable law. If you are not the intended recipient(s), you are
>notified
> >that the dissemination, distribution or copying of this information is
> >strictly prohibited. If you received this message in error, please notify
> >the sender then delete this message
> >
> >
> >
>
>
>

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original owner

Should I locate and contact the person that previously owned the week and tell them that they may be able to recover money.. the the transfer was 7-8 years ago.

Lemonjuice said:

Wait. What fraud are you talking about? When developers, using the tactics that they do, sell to people worthless off-season timeshares for which people are stuck paying for the rest of their lives, that's not fraud? If these off-season timeshares were worth anything at all, the viking ships would not have a business. So then someone comes around saying hey, let's transfer your ownership to a temporary corporation, they become culpable? Sure, high season owners are very happy to rely on off-season owners for part of the cost. Management companies need off-season owners because without the off-seasons being raped and squeezed, they would not have business. However, in reality the culpability is with the developers that created this pyramid scheme to begin with and with the rest of the industry that supports it.

Click to expand...

Your first post is rife with naiveté.

Or maybe you are a shill for a PCC.

Or maybe you are a bitter timeshare owner who bought somewhere and have regrets. No one twisted your arm. In my opinion, this discussion has nothing to do with the developer. Nothing. Many of us purchased from the developer. Some of us did it three times, only two of which we couldn't really afford. The last one, we did with our eyes wide open.

onitsud said:

Should I locate and contact the person that previously owned the week and tell them that they may be able to recover money.. the the transfer was 7-8 years ago.

Click to expand...

Nope, not necessary.

onitsud said:

Should I locate and contact the person that previously owned the week and tell them that they may be able to recover money.. the the transfer was 7-8 years ago.

Click to expand...

To be quite honest, they will probably think you are a scammer if you contact them now.

Lemonjuice said:

When developers, using the tactics that they do, sell to people worthless off-season timeshares for which people are stuck paying for the rest of their lives, that's not fraud?

Click to expand...

No, it is not fraud. The buyer agreed to purchase this off-season timeshare. I am not saying I agree with the verbal hard selling tactics, but there are reasons why real estate transactions must be in writing. You and I both know that the salesperson would sell a prime season week if the buyer would agree, but the buyer chose to go the cheaper route and buy off season. Besides, it's not like the buyers of the prime seasons are any better off. The timeshare problem goes far beyond off-season weeks.

onitsud said:

Should I locate and contact the person that previously owned the week and tell them that they may be able to recover money.. the the transfer was 7-8 years ago.

Click to expand...

a better option would be to call or write your HOA/BOD...as I have no doubt that your deed is not the only one at your resort handled by them.

if they have many other deeds in "limbo" with these LLC's...they only have a few short months to get them back easily.