Platinum Interchange is aware of a possible consumer fraud issue/telemarketing scam concerning the company Platinum Property Exchange and Platinum Properties (“PPE” and “PP” both operate as one company). Over the past month, we have been contacted by various Platinum Interchange customers and non-customers inquiring about PPE and PP expressing concerns such as: 1) Is PPE and PP affiliated with Platinum Interchange, because they are implying this, 2) Is Platinum Interchange offering a new program under the name PPE and PP, and 3) Who are PPE and PP and why are they contacting me? We want to bring this to the attention of timeshare consumers since we operate as an Exchange and Rental Company (since 1979) in the timeshare industry and are concerned about timeshare owners possibly being taken advantage of.
First, Platinum Interchange is in no way affiliated, associated with, subsidiaries of, etc. with PPE and PP. Platinum Interchange does not support nor endorse PPE and PP. Thanks to the owners who contacted Platinum Interchange about PPE and PP. Most of these owners were timeshare owners in Florida, Nevada and Pennsylvania. PPE and PP’s representatives are contacting timeshare owners and offering to sell/rent their timeshares for a one-time, up-front fee of $499 (price can vary). Platinum Interchange is continuing to investigate the operations and practices of both PPE and PP. To date, Platinum Interchange has learned that both PPE and PP are not licensed real estate agents yet they are offering to sell timeshares. Both PPE and PP are also using two business addresses in Las Vegas, Nevada on their printed marketing materials, yet they do not appear to have physical businesses at either location. Also, certain PPE and PP representatives, Elaine and Sean, are claiming they are affiliated/associated with Platinum Interchange and Platinum Interchange affiliated companies- this is not factual and clearly a fraudulent misrepresentation by PPE and PP.
Platinum Interchange was established in 1979 and offers a wide array of vacation services to timeshare owners/vacation interval owners, resort developers and vacation ownership resort associations. We focus on vacation Exchanges, vacation Rentals, owner rentals (at select participating resorts) and various other travel services. Platinum Interchange not only services the timeshare industry, but we are consumer advocates for timeshare owners and take any possible consumer fraud, telemarketing scam, and the like seriously. Again, thank you to the owners who contacted us and made use aware of PPE and PP. The information these owners provided to us on PPE and PP has greatly assisted us in investigating their operations and practices expeditiously. To read more about Platinum Interchange’s business and operations, please click here: http://www.platinuminterchange.com/website/about.asp
In the meantime, here are some suggested resources owners may utilize to protect their interests:
A. Fraud: Fraud by Internet, telephone, and mail is a serious issue. If a scam artist has contacted you or if you’ve been defrauded, consider contacting the Federal Trade Commission (FTC) at www.ftc.gov
or call 1-877-FTC-HELP. The FTC can gather evidence, identify fraud trends and alert law enforcement throughout the U.S., Canada, and abroad. By reporting your experience, you can prevent others from becoming victims and, hopefully, put an end to fraud. Remember, scammers only want your money.
B. Your choice to receive telemarketing calls at home and on your cellular phones. Consider registering your residence telephone number(s) and cellular telephone numbers on the National Do-Not-Call Registry. To register by phone, call 1-888-382-1222 (you must call from the phone number you wish to register). Also, you may register Online at www.donotcall.gov
C. When a questionable person/company contacts you, ask for: name of the company(ies), the state and city it does business in, is it registered with the Secretary of State, business entity department in that State (under what entity name and filing number), are they licensed real estate agents (if doing resales), what’s the physical, corporate headquarters of their company, what’s their establishment date, how many employees do they have, to mail you printed company materials, and anything else to assist you in understanding the nature of the company’s business.
Verify information through the Attorney General’s Office, Consumer Protection Division, in the state where they do business. You can get information about the Attorney General’s Office by searching Online or call Information for the telephone number for the Attorney General’s Office in the state you need. Typically, the Attorney General’s Office has a complaint for you can complete Online or print it from their website and mail it in. If you believe there’s a consumer protection issue, it’s suggested you file a complaint (read about Consumer Fraud on the Attorney General’s Office’s website). .
Furthermore, it’s recommend the following be considered:
1. Do NOT pay “up-front” fees to anyone offering to sell your timeshare.
2. Do NOT give anyone you’re unfamiliar with your credit card number or other personal info.
3. Ask as many questions as you need. Save any information you’ve been sent and when in doubt, call the above sources and provide them with all the information you’ve gathered.
Again, thank you to the timeshare owners who contacted us. Your assistance has been greatly appreciated.