scams target canadians too! dont pay large upfront fees...ever!

[TUGBrian]

https://www.saobserver.net/news/sicamous-senior-falls-victim-to-timeshare-scam-loses-thousands/

The senior received a phone call from a person who claimed to represent a company that wanted to buy her Mexican timeshare at an inflated price, far above the original purchase cost.

Once the victim has agreed to the sale, a contract is drafted and they are told that “transfer fees and taxes” in the amount of thousands of dollars would have to be paid before they receive the proceeds from the supposed sale of the timeshare. The victim is then instructed to have the funds transferred to a bank account located in Mexico, where the money is then withdrawn and the account promptly closed.

 

[brianfox]

Name three mythical entities:

• Dragons
• Unicorns
• Reputable timeshare companies that charge upfront fees

 

[karibkeith]

https://www.saobserver.net/news/sicamous-senior-falls-victim-to-timeshare-scam-loses-thousands/

A friend of mine is involved with a similar situation. I advised him right away when he discussed it with him that they would probably ask for money for some reason and he should terminate any discussion. when any request for funds was advanced. The amount was enough to make him sign an agreement to have the broker proceed with the sale (Known buyer or course). Sure enough they have now requested substantial funds and he has told them to take them out of the proceeds of sale. They say it must be paid upfront and if not done he will owe them about twice as much as a penalty outlined in the agreement payable if he terminates the agreement before completion. My advise to him is to insist that he is not terminating the agreement and they are now insisting on a fee not outlined in the agreement and are not complying with their obligations in the agreement.

The timeshare is located in Mexico, and the broker is located in the USA. My friend is a Canadian. The company initiating the sale was Berry and Associates located in Michigan, the senior is Michael Brooks. They have a website (http://berry-a.com/) and on the surface look legitimate but the old "we have a buyer" is the red flag. There has been a bunch of official documents some with the names of Mexican banks and they knew a lot about what was owing etc. and outlined how outstanding loans would be paid from the proceeds. Several documents are from Sterling International Escrow and Title. Has any one heard of any of these people and/or had any dealings with them?

https://www.saobserver.net/news/sicamous-senior-falls-victim-to-timeshare-scam-loses-thousands/

 

[TUGBrian]

yes, they all provide official looking documents and such to set the hook completely before they ask for some sort of fee to be paid.

its usually disguised as:

Mexican sales tax, or some other completely bogus fee...some may even go so far as to claim the money paid will go into an "Escrow" account because the sound of that word tends to convince most folks their money will be safe....reading your synopsis...this literally triggers every red flag in the book.

 

[HudsHut]

KaribKeith:
You did the right thing in warning your friend.
Tell him that this is a common scam. All he has to do is stop answering their phone calls and cease writing to them. He does not owe them a cent. He does not need to worry that they will sue him; the last thing these scam outfits want is to go to court. And, as you say, they have no case.

It does not matter what their name is. These outfits change their names constantly as they move on to the next victim.

 

[Karagiozos]

So these guys almost got me as of yesterday! I did massive research this morning, was getting nervous as to what I was seeing then came across this. So I told them to F-Off as of this morning. Here are the particulars:

1. Receive random phone call from a one “Anthony West” from Berry & Associates (Novi, MI) claiming to represent a buyer of the entire Misiones Del Cabo resort in Cabo San Lucas.

2. All of the information he presented was accurate. How I don’t know. He claimed the buyer of the resort needed to buy back 50-60% of the ownership of the resort so the could move forward with the buyout and refurbish and rename of the resort. Misiones went downhill not much longer after I bought it in 1997. I stopped going in 2005 and also called them to tell them I was no longer paying maintenance since they stopped maintaining anything. I just walked away. No recourse from them. I owned it free and clear with a friend of mine.

3. He said there was an offer on the table if I was the legitimate owner but a title search must be performed. I only needed to “agree”. No request of funds from me. I said sure.

4. He comes back with an offer of 21k to buy me out. I paid maybe 4k for it. I just needed to pay Berry 8%. Sounds fine.

5. I am then contacted by Sterling International Escrow and Title (Bloomington, MN). A one “Valentino Ferrero” who claims to be doing the closing. He presents me with a bunch of paperwork then mentions the “registry foreign investor license” to be purchased to the tune of $2300 or so. Of course, I have to purchase this up front and has to be in my name from me or I cannot move the money from Mexico to the states. Of course, I question the shit out of this and the guy gets annoyed. Another flag. Anyway, I press forward as at this point, there is nothing I have given up. They also provided a very authentic looking bank statement that shows the bank in Mexico holding my funds in trust. The 21k for the timeshare and the 2300 they say will be reimbursed. This is all paid from this phantom buyer to which is still do not know the name. They also sent to me at my request another closing that was done from another buyer. It didn’t say much.

6. All while still doing research on these companies, I have to go over the agreement with Anthony from Berry over the phone. He says “the call is being recorded” but it sounds like he’s in his bedroom. We go over it, whatever. I did sign that, but it mentioned that if I pulled out of the deal that I would owe Berry & Associates $3k. Good luck!

7. Here is the kicker. Sterling calls me and goes over only 2 of the 9 documents sent. The only 2 they give a shit about, the “International Bank Wire Information & Confirmation” which is where I go to my bank and wire the $2300 to a bank in Mexico to procure my registration and the “Customer Bank Information Form” which gives them everything about my bank account. ABA, name, address, account number so they can wire funds to that. Another red flag. And the last thing, how in the hell can they let me sell this to them when they NEVER asked about my friend who is also blatantly on the contract. I even mentioned it and they never said anything. How can they transfer clear title without him? Impossible given they needed to do a title search in the beginning.

8. So, I sleep on it, did more research this morning, BBB, addresses, you name it. Came across this and decided I’m out. Sent them nasty grams over email as proof.

Note that I have not lost anything but fair warning to any others. Please pass this around.

 

[Karagiozos]

Also...I called a company in the building that Sterling International claims to be in and they said there is no company by that name in their building. Sterling lists that address (7760 France Ave. S) without a suite number. Red flag. I called the building manager and she confirmed that Sterling has never been in that building and that they claim to have corporate meetings there. HUGE SCAM!

 

[LannyPC]

No request of funds from me. I said sure.....He comes back with an offer of 21k to buy me out. I paid maybe 4k for it. I just needed to pay Berry 8%. Sounds fine.

Please pass this around.

What I highlighted is where the discrepancy comes from these scammers. And how did "[paying] Berry 8% [sound] fine"?

By the way, there's really no need to pass this around. Mostly everyone here on TUG knows how this scam works. There have been countless posts here on TUG over many years describing almost word-for-word what you experienced. Anyway, I'm glad the red flags were raised in your mind and you did not fall for this age-old scam.

 

[TUGBrian]

nothing wrong with keeping the thread active with replies! if he found it in a search and saved himself from a scam...hopefully others will too!

 

[Dan Paulovich]

xxxx