For a long time now Inside Timeshare has been running many articles on the “Fake” law firms we have dubbed The Litigious Abogados Family, each time there then follows the names of “Fake” procurators, who will require payment to bring your case to court.
Well as you can guess, there has emerged a very new name to add to the growing list, Carlos Ingram Procuradoria, the address they give in the website:
which we highlighted in our article on 12 November.
The website for Carlos Gabriel Salva Imgran, was registered only on 27 November 2018 and is set to expire on 27 November 2019. So, for a so-called procurator a very short lifespan indeed. The registrant is hidden by a privacy protect company and is registered in Panama.
They also show no telephone numbers or any details of company registration or even if they are members of any professional associations, although we have been given the following email address:
So there we have it, more new “fakes” to be wary of, as and when we come across the new incarnations we will publish those here. This does show you the need to be be very careful with any “Law Firm” that contacts you about your timeshare, or even one you may have found on the internet. Do your homework, if you are not sure what to look for, use our contact page and we will help you find them.
Welcome to this weeks Letter from America by Irene Parker, it is appropriate that today on this special occasion in the US we publish our Veterans “Nightmare on Timeshare Street”. You may also be familiar with some of the names, as we have published their stories in the past.
Pearl Harbor Day, December 7
By Irene Parker
Yesterday America mourned the loss of 41st President George H. W. Bush. We pause today to remember Pearl Harbor and all veterans and active duty service members.
Tom E. (Tommy) Unger was my best friend and fellow Rotarian when I lived in Hawaii. The picture above is from his book, Max Schlemmer, Hawaii’s King of Laysan Island. I can think of no better way to honor my friend than to promote his book about his grandfather, a whaler and later a superintendent of a guano mining operation on Laysan Island, one of the Northwest Hawaiian Islands about 800 miles from Honolulu. I wrote Never Forget and then remembered Tommy’s book. I dug it out of the bookshelf and read his inscription, “To Irene and Don – who gave me a midnight ride to the hospital. Dear friends I shall never forget. Aloha, Tom E. Unger. This happened after a couple martinis did not sit well with Tommy’s heart medication. It felt like Tommy answered me.
Tommy grew up across the street from Roosevelt High School, becoming one of Roosevelt’s star football players. Following in his footsteps, grandson Max Unger plays NFL starting center for the New Orleans Saints.
From Tommy’s book cover, “Tom saw action during the Pearl Harbor attack as a civilian rescue worker. He received a Purple Heart and a Combat Commission during three Italian campaigns.” Visitors to Pearl Harbor were greeted by Tommy as they settled in to watch the film describing that day. He gave lectures and acted as a guide at the Visitor Center at the Arizona Memorial until his passing. Credit for photo: Donald J Johnson
Inside Timeshare has heard from 86 veterans and active duty service members who have described astonishing accounts of unfair and deceptive timeshare sales practices. Several of the veterans are disabled. Below I list five Agent Orange veterans, including Leo Gomez who passed away at age 72 in November, battling pancreatic cancer and his timeshare contract. I think of Leo often given the number of times I talked to him the last month of his life about his timeshare. The company responded that I am a “self-styled” so-called, third party (not an attorney) “advocate” with “clients” who purports to assist members in exiting their contract. I am a human being with a conscience, who is incapable of hanging up the phone when a distraught fellow human being contacts me in distress. It’s called having a soul.
Listed below are five Agent Orange exposed veterans who have contacted me, describing extraordinary accounts of deception, perpetrated by timeshare sales agents. Timeshare company representatives will call their accounts allegations. I don’t. Based on a volume and a pattern of complaints, I believe war heroes over repeat offender timeshare sales agents. This volume and pattern of complainants together I believe establishes and overcomes the “you have no proof” denials offered by the companies purporting to care about their customers, and some regulators, together allowing deception to continue unchecked with “You have no proof” auto-denials.
I want to also thank Whistleblowers of America for supporting our efforts. They included our timeshare report at the Joint Committee on Veterans Affairs March 14, 2018.
Although WoA recognizes that it is not inherent within the VA mission to protect veterans from fraud and scams that could cost them their benefits, it suggests that it could be assistive in educating veterans against these unscrupulous tactics. For example, WoA has had multiple complaints from veterans related to timeshare deceit and bait and switch tactics, which are defined by the FBI as fraud for profit. Often elderly veterans are mentioned as being targeted by the Timeshare Advocacy Group™which fights for active duty and retired military who fear losing their security clearance, career, homes or other assets. Foreclosures and financial distress because of these misrepresented investments are happening every day to elderly disabled veterans and their families. In the past, VA has cooperated with the Consumer Financial Protection Bureau (CFPB) over mortgage and other loan scams that caused financial hardships for veterans. Home loans and timeshare loans are identical as both are reported as foreclosures. WoA asks that Congress consider a role for the VBA Employment and Economic Initiative (EEI) could play in cooperation with CFPB to educate and protect veterans from unscrupulous financial predators and fraudulent practices.
Our five Vietnam Agent Orange exposed veterans:
Mr. David Althage is the 5th Agent Orange exposed veteran harmed by timeshare. We are currently reaching out to the company hoping they will help Mr. Althage.
My name is David Althage and I am a veteran of the Marines. I served from 1964 to 1968 and ended up as a Corporal E4. I spent most of 1965 and 1966 in Vietnam and my specialty was machine gunner which I did on the ground and also as the door gunner on helicopters. I was wounded twice and I have also suffered from the cancerous effects of Agent Orange on my skin. All of that seems a lifetime away as my wife and I have been settled for many years in Missouri. These days I repair mobile homes for work, and I keep going at this even though I am now 73. I do not have retirement or a pension. I only have social security.
#2 George Yamada, 70% disabled, bought timeshare points as an investment – George is a pension administrator
#3 100% Agent Orange disabled, Purple Heart, shot in Vietnam, company resolved the timeshare dispute.
#4 Danny Wolfer, up-sold by a timeshare sales agent we have received 20 complaints against. Mr. Wolfer is 100% disabled, issued a $170,000 IRS 1099 due to timeshare foreclosure. Danny’s son contacted us about the 1099 after his dad had been foreclosed. We helped him resolve the IRS liability.
#5 Leo Gomez, earned two Purple Hearts, with one month to live, battled pancreatic cancer and his timeshare – Sadly Leo passed away November 9, 2018.
Thank you to all service members, especially those who have sacrificed their life and health, to protect even those who seek to do them harm.
If you have a timeshare story, positive or negative to share, contact Inside Timeshare. We know there are many honest sales agents who have sold timeshares to many who use and enjoy their timeshare. We are not disputing that. One former sales agent and executive is Wayne C. Robinson, author of Everything About Timeshares, Before, During and After the Sale. Wayne is himself a Navy veteran, a former Navy journalist, and now a champion for those who feel they have been harmed by unfair and deceptive timeshare sales practices that Wayne witnessed during his timeshare career. Please consider Wayne’s book on your stocking stuffer list. It’s the perfect size!
Timeshare self-help groups we feel are not industry influenced:
We seek to provide timeshare members a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers.
Welcome to The Tuesday Slot, our scheduled article has been withdrawn, this is due to the timeshare company reaching out to the family concerned at the last minute. Obviously we at Inside Timeshare are pleased with this, it is just a shame that other timeshare companies do not do the same. In its place Irene Parker has drafted a last minute article on the same theme of No Secondary Market.
Following on from yesterday’s article on fake law firms, we have been informed of a “Fake Notary” calling clients who have claims going through the courts, this is highly disturbing as the calls are definitely in breach of data protection.
In several of the calls she states that they are aware the client has a case pending in court and the timeshare company has offered an out of court settlement involving thousands of pounds. In order to have this money paid a substantial amount has first to be paid into the account of a named individual for administration purposes.
This is “FRAUD”, if you receive a call from the Irish Louise Fisher or anybody else with a similar story, check with your lawyers first, do not be taken in by the huge sums they are quoting, do not pay them any money. If you have had a case in court or an out of court settlement is reached it will be from you own lawyers with an email address you will recognise or even a name you are familiar with.
Now for this weeks article.
The Disaster of NO SECONDARY MARKET for Timeshare Buyers vs the Benefits of NO SECONDARY MARKET for Timeshare Stock Market Investors
By Irene Parker
December 4, 2018
Quote from a timeshare member
The reality is that we have ended up in the seemingly inescapable grip of a timeshare industry that tightens, little by little, like a Boa Constrictor, until families are stressed out, broke and/or facing foreclosure.
The following quote is from Mr. Scott Miller, founder of Greenhaven Road Capital, promoting the benefit of no secondary market as a reason to buy stock or invest in a timeshare company, Latticework, May 18, 2016
There are a few websites and specialized brokers in timeshare hotbeds like Maui, but timeshares are hard to sell in general, and when they do sell, it is often at a very significant discount to the original price paid. In summary, customers experience a reasonable value proposition tempered by the lack of a secondary market.
The secondary market has undoubtedly had its growth stunted because the absence of the market creates an opportunity for the timeshare companies.
For example, a timeshare interest that would sell for $25,000 can often be purchased by the company for $3,000 in back maintenance fees. A robust secondary market would clearly yield higher resale values.
This low-cost source of inventory does come at the expense of those who no longer value their timeshare, but is beneficial for the company since it improves the margins and lowers the capital intensity of the business.
We have heard from 617 timeshare members. For the most part, the only court open has been the court of public opinion. I am sickened by family after family contacting me, widows, disabled veterans and active duty service members, those with top security clearances in jeopardy, driven into likely foreclosure, like Elaine describes in Friday’s article:
The article scheduled for today has been postponed, hopefully to be scrapped, as the timeshare company has reached out to the member that wrote the first quote above from their article. The timeshare member also wrote the following.
I have read so many horrific stories about timeshares on this blog that it makes me sick to my stomach. So much so, that I hesitated to even submit our story because of so many people in a much worse situation. I didn’t want to come across like a cry baby. However, it occurred to me, that the majority of timeshare members, held hostage by no secondary market, probably don’t have a major tragedy or illness of some sort. Sick babies, disabled combat veterans, seniors driven to foreclosure in their 70s and 80s, make for interesting reading. I am in total empathy with those suffering hardship, but my point is – that it is not right for your ordinary everyday citizen either.
There are thousands of hard-working citizens in the same boat, driven into foreclosure because we have no choice. Who would buy a boat, car, or house you could not sell? How can the timeshare industry not recognize that this can’t continue forever without the public becoming aware of this manipulated and restricted secondary market? We all have networks of friends and family listening to how we have found ourselves timeshare trapped.
The majority of people seeking release from timeshare contracts are probably just like us; regular, hardworking people who simply wanted a vacation to look forward to and enjoy when they signed their contract. The reality is that we have ended up in the seemingly inescapable grip of a timeshare industry that tightens, little by little, like a Boa Constrictor, until families are stressed out, broke and/or facing foreclosure.
We are waking up to the realization that what was sold to us as an “asset” is a liability even the timeshare companies don’t want. We are dragged through the demeaning and demoralizing foreclosure process, because a timeshare is an albatross you can’t get rid of. At least we have a forum to warn the general public – why buy anything you can’t get rid of? If people knew this, who in their right mind would ever buy a timeshare?
If you spent $25,000 to over $500,000 for a timeshare, in all likelihood the timeshare is worth nothing, even just one minute after the state’s contract rescission period.
Something needs to change in the timeshare industry
While timeshares often ruin the credit of hard-working citizens, timeshare sales agents, managers, executives and investors make billions – spinning the hamster wheel of recycled weeks and points.
Inside Timeshare has heard from many honest current and former timeshare sales agents, employees, managers and executives who are well aware of the unfair and deceptive sales practices, also harmed by the actions of the predators. There are thousands of complaints filed with the Better Business Bureau, Trust Pilot, Attorneys General, and lawsuits galore. Who is the finger pointed at – Me a messenger. The finger should be pointed at the Perpetrator.
A quote by Anthony “Tony” de Mello (4 September 1931 – 2 June 1987), an Indian Jesuit priest and psychotherapist, a spiritual teacher, writer, and public speaker
I am pointing to the moon and you are staring at the end of my finger!
Self-help timeshare groups and our mission:
We seek to provide timeshare members a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers.
Thank you Irene for your last minute revision, it may have upset your plans yesterday but at least it was for a good reason, it just goes to show the old saying “The pen is mightier than the sword”, is still holding true.
If you have had any calls from any company and you are not sure who they are, use our contact page and let us know the details, we will help you to find out if they are genuine or not.
It is also worth remembering that if you do have a law firm or lawyer working on your case, it is they and they alone who will inform you of any developments including out of court settlements, timeshare accounts departments, notaries etc will not be getting involved.
Welcome to another week in the world of timeshare, In tomorrow’s Tuesday Slot we welcome the Sharp Family with their first contribution. In Festiva Fury, they explain the pitfalls of having no secondary market for timeshare and the fact it is worthless from the moment you sign. So join us for another “Nightmare on Timeshare Street” tomorrow.
Now we have some news of the latest “FAKE” law firms to emerge, we begin with one that was highlighted on Mindtimeshare last week, with a little extra that Inside Timeshare found and shared with them.
The name of this “Law Firm” is B Olmo Y Asociados and are based according to their website at:
They do show an email address on the website [email protected] but no telephone or fax numbers, which for a “law firm” is very strange.
Another fact is they do show a registration number B Olmo Asociados Colegiado numero: 56040 (see PDF below) when checking this number against the database for registered lawyers in Madrid we do come up with a lawyer with that registration number, Beatriz Olmo Sere, who registered in 1995, but the entry does not show any address or telephone number, although it is a current registration.
As we have seen in the past, these fake law firms do use registration numbers of genuine lawyers and also use parts of their names, this is obviously to give them credibility if any searches are made. Somehow we don’t think that Beatriz Olmo Sere is actually aware her registration number is being used.
According to the caller named Henk de Koning (Henk the King!), the timeshare owner is due thousands awarded by the court, but to release this 9.2% of the awarded amount has to be paid first to cover administration costs. Again this has to be paid by bank transfer.
It would seem that they are contacting those who have previously paid the fake law firms and are needing further “administration” payments. This needs to be paid by bank transfer probably into an account of a named individual.
As usual, all we can do is warn you that these are all fake law firms and lawyers, do not be taken in by their false claims, that you have been awarded large amounts by the courts or that your timeshare company is about to be taken to court.
Do not pay them anything, it is a “fraud” and you will never see that money again, if you are in doubt about any company, law firm or lawyer that contacts you then use our contact page and Inside Timeshare and we will help you to do your checks.
It’s Friday and time for another Letter from America, this week another new contributor Elaine L, in her Open Letter to many heads of the timeshare industry explains her “Nightmare on Timeshare Street”. But first some news from Europe.
Yesterday we published the article on Silverpoints “Company Participations” scheme and the fact that they admitted in court that it is indeed timeshare, just after we published we had some more news regarding Silverpoint.
In a case that was won recently the lawyers from Canarian Legal Alliance have had success in securing another “Cash Embargo” against this company, also securing the payout to a German client. This happy client has now received the grand sum of 57,239.67€, which is 15,292€ more than they originally paid to Silverpoint for their timeshare.
Once again this is a tremendous blow to a company that has for many years been making millions from unsuspecting clients, the courts are obviously taking a very dim view of these past transgressions.
Inside timeshare has also received information from another reader regarding timeshare presentations, this time Azure Resorts in Malta, incidentally this is another Silverpoint company. This time it is regarding the QA sessions or what is commonly known in Europe as “button up”. It is the stage where the contracts are gone through with the client and explained.
Apparently these sessions are now being recorded, our reader explained that the person conducting the QA or button up re-words what the sales rep has told the client, such as the timeshare will go up in value and that they can sell it on if they no longer want it. The QA staff explain that they cannot guarantee increase in value or future sale, that is down to market forces. Again this is another attempt to secure the sale and negate any future litigation and complaints.
It must also be remembered that the person conducting these sessions is usually also on a commission for the completion, so it is in their best interest to ensure that the client does sign.
By Elaine L, #83 in our list of veterans, active duty service members, Department of Defense workers who feel we experienced unfair and deceptive timeshare sales practices
November 30, 2017
Timeshare sales can pose a national security risk. Just about anyone can get hired to sell timeshare points, and for those of us with Top Security clearances, our careers could be in jeopardy because we believed a timeshare sales agent. When the timeshare sales agent suffers no consequences, the sales agent has been given the green light to sell by any means knowing all complaints are answered in favor of the sales agent.
The public needs to know their complaint will fall on deaf ears before buying a timeshare. No matter what the sales agents said, and with little to no enforcement, the buyer will be held responsible for the contract. Diamond should want the public to know this.
According to Social Media reports, the Nevada Real Estate Division (NRED) also dismisses complaints with, “You have no proof,” so there is nothing to stop a sales agent from making up reasons existing member need to buy additional points.
Ages 50 and 49 respectively
I have a Top Secret security clearance
October 13, 2018 complaint
At a December 17, 2017 meeting, we asked Davia H about selling the Diamond/ Sunterra timeshare we already owned. We had tried unsuccessfully to sell our timeshare. We made it clear that our interest was to sell all our interest in Diamond/Sunterra points.
Davia told us that there was no way to sell the Sunterra timeshare because we did not have “Full Club Member” Diamond benefits. She encouraged us to become “Full Club Members” with the promise of being able to sell the timeshare easier.
She said that the points we owned from our original timeshare were worthless and that we needed to upgrade to a “Full Club Member” to receive “benefits that would increase the value of the timeshare to make it worth buying.” We were quoted a unit price of $8 per unit. We feel that not disclosing that timeshare points are worthless was a material omission.
Davia showed us Timeshareangels.com (a site selling Wyndham Resorts points and timeshares) – she told us she is also a Wyndham timeshare sales agent and said that people were selling points (units) for $4-$6 per unit. Davia showed us examples of listings for Wyndham timeshares. It has been widely reported Diamond points are worthless.
Davia also said that she would show us how we could make money off our timeshare, if we bought into Diamond’s “Full Club Member” status. Davia advised us to wait six months before trying to sell because the value of the timeshare would increase. She also told us that she knew someone who helps people sell their timeshares and could give us her contact’s information. Given Davia told us to wait six months before trying to sell, it was too late to rescind the purchase agreement. Repeated calls and texts to Davia went unanswered.
Other claims Davia made:
Our management fees would be locked in as “Full Club Members” so maintenance fees would no longer increase,
The value of the timeshare would appreciate over time because of the affiliation Diamond now has with the Apollo Group. Due to the affiliation with Apollo, Davia said we could recoup our cash outlay and the value of the timeshare would continue to increase over time. Davia said the Apollo Group paid way too much for Diamond so were eager to recoup some of the losses.
We could make our points earn money by selling them – she said we could sell our points for more than the $8/point we were paying.
We did not want to buy more points. We only bought points so we could sell them.
3500 points purchased at Cancun Resort in Las Vegas December 17, 2017
Our original complaint sent March 1, 2018 was ignored. Davia used information asymmetry to make money off people in my position. My job and career are at stake due to her charade due to my top security clearance.
Diamond used the recording of the Quality Assurance against us. The “Hospitality” agent said my husband had asked two questions. The questions were about an assessment fee and how long is escrow. How could we ask questions about the ability to make money or sell points if we didn’t know Diamond points were worthless?
The recording of the QA was reported in a Diamond CLARITY press release to be for the purpose of enhanced training. Several members have reported the QA recording has been used against them. I would like to know if the QA person is penalized financially if a sale doesn’t go through. Diamond does not allow the recording of the sales presentation. For us, there was no Diamond CLARITY promise of RESPECT for the customer, clear, concise, accountable and transparent information.
I sent our complaint to this list of contacts found on our advocacy Facebook page:
To: Michael Flaskey, CEO
Barclay’s President’s Office
DR PR Firm
Association of Vacation Owners
If a sales agent can say anything to sell points, and the company response is that you signed a contract, then the public must be warned that they should not believe a word a timeshare sales agent says. There are over 2100 members on our member sponsored Facebook page.
Thank you to Elaine for your contribution this week, we are sure it will be recognised by many of our readers, we can only hope that all those it is addressed to actually take notice, somehow I very much doubt it.
If you have had any experience such as those we publish, or have been contacted by any company telling you they can “exit” you from your timeshare or even get you “compensation”, use our contact page and let us know. Inside Timeshare will point you in the best direction and save you a lot of your hard earned cash.
Have a good weekend and join us next week for more “Nightmares on Timeshare Street” and all the other scams that are out there.
A few years ago Silverpoint changed their usual “investment” packs into “The Company Participation Scheme”. This is where the clients are then sold “participations” (not shares), in “registered” companies. These are actually apartments that are registered as companies with names like “Palm Beach 112”, using the names of the resorts along with a number, (possibly the apartment).
Once again like the “investment” weeks the whole point is to dodge the strict timeshare laws, which at first Silverpoint were successful in doing so. They actually fooled the courts in the early days that the purchasers were not buying timeshare but were investing in property. Eventually the Supreme Courtruled that these clients were buying timeshare and were not investors, therefore they had the full protection of the timeshare laws.
Since that first ruling Silverpoint has been on the receiving end of many court cases, almost on a daily basis, with the court’s finding for the clients. This is costing Silverpoint hundreds of thousands of pounds.
In a new and unprecedented case these “Participations” have been shown to be what they are, timeshare by another name, or what we at Inside timeshare would call a “Pig in a Dress”.
In this pre-trial hearing, which is usually a precursor to a full trial, something very extraordinary took place, before the Judge, Dña Lara Etelvina López Jiménez, Silverpoint and their legal team admitted that the “Company Participations” are indeed “TIMESHARE”!
This admission is going to have a very profound effect on all pending cases, it also opens the gates for many more “victims” to come forward and place claims against Silverpoint, not just to be reimbursed with their “INVESTMENT” but also have the contract declared null and void.
Judge Lara Etelvina López Jiménez decided on this admission that there was no need for a full trial to take place and closed the proceedings issuing her judgement and sentence within days of the case.
She ordered that the contract be declared null and void with the return to the client of 81,700€ including legal interest and fees. (Click on the PDF to see the court document).
Well, it is a rather sophisticated scheme designed as we said to circumvent the timeshare laws, “Participants” purchase a number of participations in the companies, which are actually the apartments registered as companies. The idea is they will receive a “rental” income with a yearly dividend of about 4% of the income rental. They are also should be able after 3 years to “sell” their participations, the only thing as we have found out from one of our readers is that they can only be sold to other participants. One slight problem here, they don’t know who they are and have no way of finding out, but according to our readers information, Silverpoint will approach them with the sale!
Attached to these “participations” are also holiday weeks which the “investor” is able to use, which does put them into the realms of timeshare.
Now as far as the “dividends” are concerned, some have received them in the first couple of years of “investing”, but as we are increasingly finding out most are now way behind on receiving them for this year.
The reason is that Silverpoint and Excel Resorts, who are the managing company of the resorts themselves have had a very severe falling out, with Silverpoint losing all marketing rights. So when these “investors” enquire and complain that they have not received their dividends for this year, they are told by Excel that they are waiting for Silverpoint to pay them.
When the “investor” makes further complaints and threatens legal action, it appears that Excel pays them the dividend, the only thing is it is with the “investors” own money which they have paid for the “participations”. I don’t know about you, but to me this looks like the classic “Ponzi scheme”!
What is a Ponzi Scheme?
Here is a simple explanation.
A Ponzi scheme (/Ponzi/ also a Ponzi game)is a form of fraud which lures investors and pays profits to earlier investors by using funds obtained from more recent investors. Investors may be led to believe that the profits are coming from product sales, or other means, and remain unaware that other investors are the source of profits. A Ponzi scheme is able to maintain the illusion of a sustainable business as long as there continues to be new investors willing to contribute new funds and most of the investors do not demand full repayment and are willing to believe in the non-existent assets that they are purported to own. (It is also known as a Pyramid Scheme).
It is actually named after Charles Ponzi who became notorious for exploiting it in the 1920’s, it also has roots in literature, being used in two Charles Dickens novels Martin Chuzzlewit (1844) and Little Dorrit (1857).
In further developments it has also come to our attention that Diana Aitchison, Chief Operating officer for Mark Cushway at Silverpoint, has recently parted company with Silverpoint, she is apparently now in the reservations department of Excel Resorts and Hotels.
This does indeed acknowledges a huge split between the two companies, one problem which Excel will have with the move of Diana Aitchison, is the fact that she signed off many of these “participations” for Silverpoint. This along with the fact that Excel is listed as “Sole Administrator” for these “registered” companies indeed shows a legal link which will only help those future cases.
We will bring you further information as we get it, but for now this recent development is going to please many of those who “INVESTED” in this scheme.
Have you been a victim of this or a similar “timeshare” scheme?
Have you been a victim of Resort Properties / Silverpoint and want to know the way forward?
If so use our contact page and let us know, Inside Timeshare will explain what your options are and point you in the right direction. You have rights under Spanish law for redress, don’t lose out on your chance to regain your hard earned money and have the contracts declared null and void.
Which was registered on 2 November 2018 so is only 25 days old, it is due to expire on 2 November 2019, so only paid for one year!
As usual the registrant is hidden by a privacy protect via GoDaddy, this in itself is usually a sign of a “Scam” outfit.
According to the website the firm was founded on Friday 2 october 1992, again very precise, by Juan Folanta Hadorso, they claim to be a legally registered Spanish company with the CIF Number A25891623. No company can be found on Spanish company register and the CIF Number is also a fake.
The address is one that we have seen before on several other incarnations:
We are still in the process of identifying the other pictured “lawyers”.
Another name that has surfaced is Alberto Nalgata Solatez who is from Departmento De Reclamaciones or claims department.
Well we all know what the “pitch” is going to be, your timeshare company is to appear in court very shortly, you have a case and can be part of this. But to do so there is going to be a procurator fee to be paid direct to a named individual and a personal bank account.
Then you will be informed that the director of your timeshare company pleaded guilty to all charges and you have been awarded a substantial amount of money. Fantastic, an early Christmas present, unfortunately you must first pay a “TAX” to have this money released, this will be around 20% of the awarded amount.
This will all be backed up as in the past by very convincing court documents, along with probably a photocopy of the cheque made out in your name. This will never arrive, well, an envelope will arrive but it will be open and the cheque will be missing.
Then out of the blue, another company will be in touch and tell you the cheque was stolen and cashed by a foreign gang. This company has been charged by the court to recover your money for you, but, yes you guessed it, they will want around 10% to 20% of the awarded amount to carry this out.
This is a “FRAUD”, do not be taken in by them, all the names are FAKE, all the documents are FAKE, everything about them is FAKE!
If you have been contacted by this or any other company with a similar story, use our contact page and give us the details, it is through your information that we can warn others and also pass this information to the appropriate authorities.
Remember, doing your homework first will in the end save you thousands and a lot of heartache.
Welcome to another Tuesday Slot, this week we have a new contributor, the Walency family with their own “Nightmare on Timeshare Street”, this time it is Hilton Grand Vacations that are in the frame. It is just amazing that even a company with a prestigious reputation as Hilton allows their sales agents to mislead and lie to prospective clients in order to line their own pockets. As we have said before, the timeshare product is not a bad concept, it is the behaviour and underhand tactics of sales agents with the complicity of their managers that are bringing the industry into disrepute. The CEO’s of these companies must take full responsibility for this, they are after all in charge!
Our Eternal Hilton Vacation Nightmare
By the Walency Family
November 27, 2018
This article was sent to Hilton for comment November 5. There was no response and at the time of publishing no response has been received.
We don’t understand how a huge company like Hilton Grand Vacations can allow their sales agents to say anything at a timeshare presentation and then lay claim to the contents of our wallet from now until we die. We have unchecked corporations picking on small fish while lawmakers and big government agencies sit back watching the show and timeshare sales agents and executives rake in millions at our expense.
Something is very wrong when a product, so often sold as an asset, forces buyers no choice but to foreclose if they don’t want it. If you buy a house, and you have an outstanding loan, you can still sell it. Timeshare buyers like me have no choice but to foreclose, due to the lack of a secondary market, ruining our credit, and I’m sure the credit of thousands. Change will only happen through the cumulative voices of everyday people who have had their financial lives wrecked by this timeshare industry. We need to keep shouting until we can’t be ignored. If Hilton won’t listen, we hope others timeshare companies will.
Consumers need to think twice about buying any timeshare, as you can find yourself held financial hostage buying something that cannot be sold and is accompanied by rising maintenance fees. The timeshare industry is leaving buyers with ruined credit scores and the anguish that goes along with foreclosure.
We received our closing documents well after the rescission date which prevented us from cancelling the contract. We feel we experienced deceptive sales, but the difference in what we bought and what Hilton sales agent Bruce K sold us did not become apparent until long after the rescission period. We feel we experienced a bait and switch.
We purchased the Hilton Grand Vacations timeshare in New York City, New York, 2016 for $13,390. We no longer intend to pay for this contract. Bruce K misled us about the total cost of the timeshare. He did not mention property taxes, increased maintenance fees, or yearly assessments. We have had to pay $150 in yearly club dues, $335 for club inventory activation fee and $690.52 for annual assessment fees that he did not mention at the presentation.
We have been trying to communicate with Hilton since June 2018. To date, we have received only one letter with a copy of our contract and little else. In other words, they got us because we signed a contract, despite what the sales agent told us to get us to sign.
Bruce K told us he wasn’t a salesman, just there to help timeshare owners find buyers. Two lies in one. He was a salesman. Hilton does not have a resale department. We have tried to find his real estate license number, unsuccessfully, and wonder whether he was licensed to sell us the timeshare in the first place.
Bruce K told us it would be a good investment because it was real estate that this would be great to pass on to my daughters. He said it already had equity. This was the third lie as timeshares are a liability to be passed on to your kids.
He said we could book wherever we wanted, easily. We wanted to book Florida on the east coast. We were told it was not available, but could be booked through the next year or so.
In this day and age of easy online booking, we have to wait a year?
We asked for Cape Canaveral and Panama City Beach Resorts and Galveston, but ended up in Vegas as a last resort. We were never able to book with the ease that Bruce K told us we would be able to book.
What we were told:
Bruce K said the Hilton timeshare was just like any other property where you can claim the interest paid on your taxes each year and it would pay for itself by renting it out and that he would help us do that. When I called to see if I could rent out my week, I was told Hilton does not allow renting the timeshare.
Bruce K said there was a market to sell the timeshare if we needed to sell. We entered that market and were scammed the same way Hilton scammed us. Hilton Grand Vacations doesn’t have a buyback program.
Bruce K stated several times how this would change the way we took vacations for the rest of our lives and how we could get reduced prices on airfare and ground travel in Europe and be able to book exotic vacations anywhere in the world. Booking vacations during our week is impossible because it was never available during week 31 of our agreement.
Thank you to the Walency family for their contribution, if you have had a similar experience with any timeshare company and would like to share this on our “Nightmare on Timeshare Street”, use our contact page and we will get back to you.
Many of these purchasers have also been taken in with the promise of “investment packs”, these are packs of weeks and apartments which were sold with the promise of a substantial return after two years. This return was supposed to have happened with the resale of those weeks, but these never happened, leaving many with huge maintenance fees and even bigger Barclays Partner Finance loans.
The story was always the same, the weeks and apartments that the clients purchased could not be sold as they were not sought after, in order to secure the initial “investment” the clients needed to “upgrade” to better quality apartments which were being sought. This “upgrade” would also be financed with a BPF loan arranged by firstly Resort Properties and then Silverpoint.
A few years ago these “investment” packs were changed to “The Company Participation Scheme”. This is where the clients are then sold “participations” (not shares), in “registered” companies. These are actually apartments that are registered as companies with names like Palm Beach 112, using the names of the resorts along with a number, (possibly the apartment).
Once again like the “investment” weeks the whole point is to dodge the strict timeshare laws, which at first Silverpoint were successful in doing so. They actually fooled the courts in the early days that the purchasers were not buying timeshare but were investing in property. Eventually the Supreme Court ruled that these clients were buying timeshare and were not investors, therefore they had the full protection of the timeshare laws.
Since that first ruling Silverpoint has been on the receiving end of many court cases, almost on a daily basis, with the court’s finding for the clients. This is costing Silverpoint hundreds of thousands of pounds, in the past few weeks alone the courts have ordered they repay around half a million pounds.
One of the continuing themes from our readers emails is how has Cushway got away with this timeshare “scam” for so long?
The simple answer is, he has others in the front line doing his bidding, according to his profiles on the internet, he paints a picture of total respectability.
In Tenerife another associate of Mark Cushway being linked to Silverpoint& Signallia Marketing is called Lee Burton.
Apparently he is well known in timeshare circles, mainly as a bit of a henchman. He is closely associated with Mark Cushway, as well as others in the industry.
Inside Timeshare has also been informed that this individual is also under investigation for lying to the court under oath, which is known as perjury. A Criminal Denuncia (official police complaint) has also been filed against him on this very matter. He is a person of significant interest to the Guardia Civil, this is a police force that you do not want to get on the wrong side of.
It is believed from our sources that his role is ensure the smooth running of the operation and dealing with any “problems”. Judging by his reputation, a role he is well suited for.
As we were getting this article ready for publication, Inside Timeshare received an email from a very concerned daughter whose 91 year old Mother has these “Company Paticipations”.
It tuns out that she wanted to hand back her membership with Palm Beach Club several years ago, she did not expect any payment, just to hand it back and be free of the burden of the maintenance fees. Well it didn’t quite work out like that. She was told that the only way was to “invest” nearly £30,000 (at the age of 85) in the “Company Participation Scheme”.
It now turns out that she is unable to get back her “investment” as promised, the only way is to sell her “participations” to another holder, this was the advice given by Diana Aitchison one of the senior managers at Silverpoint. All well and good, the only problem is she is unable to find out who the other “participants” are.
The other question is did an 85 year old lady actually understand what she was getting into, according to Diana she does not think so, somehow we think not as well. So if Diana Aitchison was aware of this why did she not do something about it?
Diana Aitchison is a former Director of Resort Services at RCI (Resorts Condominiums International) and was appointed as Chief Operating Officer at Silverpoint by Mark Cushway in May 2013.
She is now trapped in this scheme and is obviously getting very worried that she has now lost all her money. It would appear from this and other emails Inside Timeshare has received on this subject, that it is the elderly that are being targeted. All are retired, all are being coerced into this scheme and to finance it by going for equity release. Is this they way to conduct business? Inside Timeshare thinks not!
If you have been “sold an Investment” in this scheme, or have had any dealings with Silverpoint and want to know where you stand legally, then get in touch with Inside Timeshare. We will be able to point you in the right direction to get the best advice possible.
Welcome to our Friday’s Letter from America, this week Wayne Robinson explains why it is often very difficult to cancel after purchasing a timeshare, but first a quick look at Europe.
Earlier this week it came to our attention that one of the largest tour operators TUI had been advertising weeks at Anfi Emerald for 1000€ p.p.p week, this was for a 1 bed deluxe apartment and included flights, transfers and breakfast. Now when we consider that members have paid thousands for their floating weeks along with the annual maintenance fees, yet we constantly hear from them that there is no availability, it makes you wonder what is going on?
This is not just a problem with Anfi, we have heard from many timeshare members that they are constantly having trouble booking, yet they see their own resorts being advertised on the various booking websites. Is it fair that these people pay thousands for what they are told is exclusive to members and find they can in many cases book cheaper than their maintenance fees, without having to pay the initial purchase extortionate price.
It revolves around the liquidation of Enduria Travel, also known as the Travel Shop and was based in Gran Canaria, they were also affiliate members of the RDO. In their article, mindtimeshare explained that they actually expressed concerns to the RDO about this company, but the RDO still accepted their membership. All we can say is how things have changed.
Today is what everyone is calling Black Friday, but at the start of the week it was for Anfi BLACK MONDAY!
Canarian Legal Alliance received on that day alone 12, yes 12 sentences against Anfi in favour of their clients, with over 900,000€ awarded, plus all contracts were declared null and void. They also received another sentence from the High Court in Tenerife against Silverpoint. In all this year CLA have secured over 11 million euros in awarded claims.
Now for this weeks article.
5 Strategies Timeshare Resorts Use To Prevent Cancellations
By Wayne Robinson
Black Friday November 23, 2018
Today is Black Friday in America, celebrated by standing in long lines at shopping malls to be followed by Cyber Monday, when stay at home shoppers shop the internet. I hope you will add my book Everything About Timeshares: Before, During and After the Sale onto your Cyber Monday shopping list.
Many timeshare buyers do not even think about the contract they signed until after the rescission period has passed. Given that buyers are often not allowed onto the booking site until after the rescission period, the product the consumer bought is for the most part bought sight unseen and untried. Anything we can do shed light on these important rescission days could save the timeshare buyer untold grief and money, should they come to regret their purchase.
The Rescission Period
The rescission period is the time allotted by local governments for consumers to review their purchase and legally cancel their timeshare. The length of time varies by state, but is typically three to ten days. In Aruba, and in some American states, there is no rescission period.
If the timeshare buyer cancels their purchase during the rescission period, the government requires timeshare companies to give purchasers a full refund of any monies they have received. There is nothing more frustrating for a sales team than to spend 6-8 hours making a sale that later cancels. Sales agents and their managers will do everything they can to prevent new owners from cancelling their timeshare purchase during the rescission period.
Here are 5 strategies that many timeshare resorts use to prevent new timeshare owners from cancelling during the rescission period.
Sales agents will avoid the rescission clause that is included in the documents.
Although the rescission clause is clearly written in the documents, many timeshare agents or Legal Verification Officers (VLO) will avoid mentioning this very important item. Many reps will discuss other matters to avoid the clause that outlines the rescission.
The resort’s management will not allow sales reps to mention the rescission period during the sale presentation. Mentioning it could lead to disciplinary action or being fired.
This is how many timeshare sales reps avoid having their sales cancelled.
Most timeshare buyers will not review the paperwork during the rescission period. After a 6-8 hour grueling sales presentation, the last thing the new owner wants to do is review all the legal jargon included in the documents. If the rescission period is not mentioned by the staff, too often the buyer is not even aware of it. In some states trial products have no rescission period.
Each state rescission period is listed in this chart provided by ARDA, the American Resort Development Association. There have been more than a few complaints from timeshare members who were denied release, despite being only a half day late. Instructions on how to rescind are buried deep within the contract, and sometimes instructions are vague.
It is important for the timeshare sales staff to keep in touch with their new clients shortly after the sale to prevent them from cancelling. Most clients will have buyer’s remorse and reconsider their purchase after the buyer has taken the time to think about their purchase, research the company that they just spent $21,000 on (on average), to ensure that they did the right thing. For this reason, sales reps need to be available just in case the client wants to cancel. After all, it might have been a very expensive and unexpected purchase that was sold on emotion
According to aRedweek article, Dr. Amy Gregory, assistant professor at theUniversity of Florida has been studying the impact of buyer regret and remorse and rescission decisions. She says that most timeshare buyers regret their decisions.
“A whopping 85 percent of all buyers regret their purchase (for money, fear, confusion, intimidation, distrust and other reasons).”
Dr. Gregory’s findings are as follows:
The average rescission rate is 15% – essentially identical to the daily average percentage of people who buy a timeshare following a sales presentation.
85% of all buyers regret their purchase, citing reasons including money, fear, confusion, intimidation, and distrust.
41% of buyers never thought they would regret their purchase but ended up doing so; 30% were neutral prior to buying, but came to regret their decision.
95% of all buyers go back to their resort and sales team for more information after the sale, usually within one to three days, seeking more information about maintenance fees, resale options, and pricing alternatives.
Some sales reps will treat their new owners out for a nice dinner to help “bond the relationship.” This tactic works well as the new owners are getting to know the sales agent on a personal basis rather than as a sales person. After all, the salesperson used their own money and time to take the new owners out for dinner. Why would they consider canceling with “their new friend?”
They will follow-up by phone.
If the new timeshare owners are on vacation some resorts will require the sale staff that made the sale to meet with the new clients the next day, or call them within 24 hours. This is to overcome buyer’s remorse, and to answer any questions or provide clarifications. Often, the new owners forget the verbiage made during the presentation.
The resort may reduce the sales price.
If the new timeshare owners decide that they want to cancel, the resort can offer to reduce the price. Often this “second round” rendezvous could require another 2-3 hours of negotiations. Many take the bait and purchase at the lower price, or some keep the original agreement. Unfortunately, the timeshare company may not change the original rescission period, and the new owners now have less time to reconsider their purchase.
Consumers need to be aware that the “today only” price will always be available the next day, week, month or maybe even years later.
The resort may offer more gifts.
If the resort offered gifts, there are hundreds or thousands of additional monies that was left on the table because the sale did not exceed their “bottom line” price.
If the new owners want to cancel, the management can offer more gifts to “sweeten the deal.” These free gifts might include free accommodations, free meals, free activities, free or discounted RCI weeks or other options.
New owners must be aware of the new terms that might have entered the contract. These terms could include paying rack rates for the free accommodations or paying the highest advertised prices for any gifts just in case they decide to cancel the deal. This action could add into the thousands of dollars if they decide to cancel.
Timeshare resorts will use every strategy that they can, including embarrassment and condescendence to keep the sale, but it’s the consumer’s final decision to end the relationship or move forward. Therefore, it is imperative to read all the documents thoroughly before signing, or present it to an attorney during the rescission period.
Wayne C. Robinson is the author of Everything About Timeshares: Before, During and After The Sale. He is a former timeshare executive who is advocating with consumers to assist them their timeshares problems, and to help consumers better understand the timeshare business from an “insider’s” perspective.