The Federal Bureau of Investigation’s Sacramento Office has issued a warning to Californians about a long-running timeshare scam that has defrauded victims out of nearly $40 million.
According to the FBI, this scam involves timeshare owners receiving unsolicited phone calls or emails from individuals posing as sales representatives for a timeshare resale company.
“These sales representatives often use high-pressure tactics to create a sense of urgency,” the FBI stated. “Timeshare owners who agree to sell are told they must pay upfront fees for listing, advertising, or closing costs.”
After receiving the money, the scammers become elusive by disconnecting their phone numbers, making their websites inaccessible, or demanding additional fees before finalizing the supposed real estate transaction.
In some cases, the scam goes further with scammers creating fake timeshare fraud recovery companies that promise assistance but require an upfront fee for their services. Some scammers even pose as government entities, requesting payments for fees related to the timeshare sale.
The FBI has provided several tips to help people avoid falling victim to this scam:
- Be cautious of unsolicited phone calls, texts, or emails from anyone interested in your timeshare.
- Research all entities you interact with, independently contact offices to verify if you are speaking to a legitimate representative, and seek the help of a trusted real estate agent or lawyer.
- Be aware of tactics such as pressure and time-sensitive offers.
- Remember that if an opportunity seems too good to be true, it likely is.
By following these precautions, timeshare owners can protect themselves from becoming victims of these fraudulent schemes.