DOJ files suit against another Upfront Fee Exit Scammer - Square One Development

[TUGBrian]

Some great news today as we are very happy to see yet another upfront fee exit company scammer be taken to task in federal court after stealing tens of millions from victims!

FTC, Wisconsin Attorney General Take Action Against Timeshare Exit Scammers for Cheating Consumers Out of $90 Million

The U.S.

www.ftc.gov

id imagine some kudos go out to our local Stlouis BBB representative for this coming as far as it has! well done!

 

[rickandcindy23]

This is a start. It seems like ten pop up for every one that gets closed down.

 

[STLBBB]

Thanks for posting this. It has been a long road to get here, but I'm hopeful some of the $90 million in losses by consumers will be returned as part of this action.

 

[pedro47]

Will this TS exit company really pay $90 million in fines ?

How many TS exit companies really have paid off their federal court fines and how much?

 

[dioxide45]

From the article
“The defendants used scare tactics and high-pressure sales pitches to coerce seniors into forking over thousands of dollars”

Does that remind us of anything else?

 

[RX8]

Once a criminal, always a criminal. Square One and the principal George Reed, a convicted child porn felon, stole $2.8M with fraudulent PPP loans.

Grand Jury indicts two men accused of bank fraud involving Paycheck Protection Program

www.justice.gov

 

[LannyPC]

• Stoking baseless fears about how heirs may be affected: The complaint notes that the defendants use fears that consumers’ heirs will be saddled with ever-increasing maintenance fees after the consumers die as an incentive to pay for the expensive exit services. In fact, states have procedures allowing heirs to disclaim any timeshare inheritance.

 

[pedro47]

• Stoking baseless fears about how heirs may be affected: The complaint notes that the defendants use fears that consumers’ heirs will be saddled with ever-increasing maintenance fees after the consumers die as an incentive to pay for the expensive exit services. In fact, states have procedures allowing heirs to disclaim any timeshare inheritance.

This timeshare exit company employees needs to go to prison and not pay any fines.