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We have recently seen some threads about the stock buy back scam, which appears to be a variation of the “We have a buyer but you need to wire money first” scam. This scam is likely run by those same scammers, which many believe are run by the Mexican cartels.
HGV recently sent out an email warning of this exact scam. Interesting that HGV states in this email that renting out your timeshare is against the rules. As we all know, that is not exactly correct as an owner is allowed to rent their home week.
“HGV Stock Buyback Scheme Targets Owners
HGV has become aware of fraudulent groups using our name and likeness to obtain Owners’ and Members’ personal details through an HGV stock buyback scheme. Individuals claiming to be with real estate brokerages or title companies working on behalf of HGV have contacted Owners with fake offers to purchase their HGV stock. They even send fraudulent documents using HGV staff names and signatures with wire transfer instructions. Remember HGV will never initiate contact to purchase or repurchase stock shares in the company, either directly or through a third party.
This scam is consistent with a larger trend reported by the U.S. Federal Bureau of Investigation (FBI), in which fraudsters impersonate investment professionals. Please be aware of this scam and follow best practices for protecting your personal information.
How To Protect Yourself
Verify All Communication. Always confirm the legitimacy of any communication from HGV by checking for consistency, proper grammar and official HGV or Hilton branding. Ensure that emails are from the HGV address where you typically receive correspondence.
Be Wary of Unsolicited Offers. HGV does not authorize third parties to solicit our Members and Owners. Be cautious of unexpected calls or emails regarding your vacation ownership.
Never Pay Upfront Fees. If you are contacted by an individual or a company claiming they can rent or resell your timeshare for an upfront fee, do not pay it. Legitimate companies do not require fees. It’s important to note that renting out your timeshare isn’t permitted under HGV’s Club membership rules.
Protect Your Personal Information. Never share sensitive personal or financial information with unverified parties.
Research Before Engaging. Before working with any company, thoroughly research them by consulting the Better Business Bureau and reading online reviews.
Report Suspicious Activity. If you encounter anything that seems suspicious, stop communicating with the fraudulent party and report it right away.
Stay vigilant and remember:
If an offer sounds too good to be true, it probably is.”
HGV recently sent out an email warning of this exact scam. Interesting that HGV states in this email that renting out your timeshare is against the rules. As we all know, that is not exactly correct as an owner is allowed to rent their home week.
“HGV Stock Buyback Scheme Targets Owners
HGV has become aware of fraudulent groups using our name and likeness to obtain Owners’ and Members’ personal details through an HGV stock buyback scheme. Individuals claiming to be with real estate brokerages or title companies working on behalf of HGV have contacted Owners with fake offers to purchase their HGV stock. They even send fraudulent documents using HGV staff names and signatures with wire transfer instructions. Remember HGV will never initiate contact to purchase or repurchase stock shares in the company, either directly or through a third party.
This scam is consistent with a larger trend reported by the U.S. Federal Bureau of Investigation (FBI), in which fraudsters impersonate investment professionals. Please be aware of this scam and follow best practices for protecting your personal information.
How To Protect Yourself
Verify All Communication. Always confirm the legitimacy of any communication from HGV by checking for consistency, proper grammar and official HGV or Hilton branding. Ensure that emails are from the HGV address where you typically receive correspondence.
Be Wary of Unsolicited Offers. HGV does not authorize third parties to solicit our Members and Owners. Be cautious of unexpected calls or emails regarding your vacation ownership.
Never Pay Upfront Fees. If you are contacted by an individual or a company claiming they can rent or resell your timeshare for an upfront fee, do not pay it. Legitimate companies do not require fees. It’s important to note that renting out your timeshare isn’t permitted under HGV’s Club membership rules.
Protect Your Personal Information. Never share sensitive personal or financial information with unverified parties.
Research Before Engaging. Before working with any company, thoroughly research them by consulting the Better Business Bureau and reading online reviews.
Report Suspicious Activity. If you encounter anything that seems suspicious, stop communicating with the fraudulent party and report it right away.
Stay vigilant and remember:
If an offer sounds too good to be true, it probably is.”
