Silverpoint formerly Resort Properties and now also known as Signallia Marketing Distribution SL is no stranger to these pages, or to many of those readers who have in the past purchased timeshares from them.
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 loans arranged by firstly Resort Properties and then Silverpoint.
At the helm of this enterprise was the Chief Executive Officer Mark Cushway, who is still at the helm, although they insist they no longer sell “timeshare”.
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.
So as the title says, the story now moves on.
Silverpoint have set up numerous companies and associations with others, to once again dupe the very same clients they duped before.
Inside Timeshare has had many emails from these clients, all have attended presentations either in Tenerife or the UK, all with the same purpose, to get them to sign up with another product or have their timeshare contract cancelled with the promise of a claim.
In Tenerife it is Centaurus Mediations, with another associate of Mark Cushway being linked to it called Lee Burton. Again this name has appeared on these pages in the past, as a bit of a henchman. (see link below) The pitch is to either sell them Keys Concierge, a so-called “lifestyle” product promising massive discounts, the cost, around £10,000 or a cancellation of the contract.
Another company linked to Silverpoint is Aspirantco SL, with offices literally across the road from The Suites Beverly Hills. This company claims they are nothing to do with Silverpoint but on Mark Cushways Linkedin page under Silverpoint employees it clearly shows that they are linked. (see PDFs below)
We then have Claims Solutions Group, a company we have already highlighted on these pages, based in Aberfeldy, linked to this company is Bryan Wilson, who has recently advertised for “telemarketing” staff for a new call center apparently in West Kirby.
Another company linked with all this is Fullbrook Associates of Stirling, again using members data provided by Silverpoint, (see links below).
The purpose is to contact Silverpoint clients, using members data provided by Silverpoint and Mark Cushway, the deal is very simple, they are the only ones who can get you out of your Silverpoint contract. But to do so you first have to pay thousands to do this.
Not bad I hear you say, first they take your money to sell you the illegal timeshare, contract, then you have to pay them again to get out. Sounds like a win win for none other than Silverpoint and Mark Cushway!
So what is the aim of all this?
As we have reported on these pages, Silverpoint is losing hand over fist in the courts, at the rate this is happening they will soon have nothing left. By getting you the owners of these worthless timeshares to have your contracts cancelled, either by trading in for Keys Concierge or by having Claims Solutions Group have them cancelled, you will then have no recourse to take them to court and retrieve all the money you have paid in the past. In other words it is a damage limitation exercise at the same time getting as much of your money as possible.
Inside Timeshare has been reliably informed that Criminal Denuncias along with numerous civil actions have already been filed against many of the participants, we also know that there are many more cases waiting to be heard by the courts, not just for the timeshare “scam” but also for the “company participation scheme”.
If you are contacted by any of the mentioned companies or are enticed to a presentation while on holiday in Tenerife the warning is simple, “DON’T SIGN UP TO ANYTHING, AVOID THEM LIKE THE PROVERBIAL PLAGUE”.
If you have been taken by Resort Properties / Silverpoint with either timeshare or the company participation scheme and want to know how you can legally get your money back, also having the contracts declared null and void, then contact Inside Timeshare for further information. The courts and the law are on your side, don’t let these people get away with what has already been dubbed “one of the biggest timeshare frauds in history”. Time is running out, act now.
Links to previous articles.