Original Message:
Re: Vallarta Gardens in Punta Mita (Nuevo Vallarta Area) (by Rosemary S.):
Unfortunately, my husband and I also fell prey to Vallarta Gardens and Gareth Grieve. We were told that they would "buy" our Vidanta timeshare and that all we had to pay was $17,500 which we would get reimbursed for in 180 days. They then proceeded to open a "Barclays' Bank credit card to pay the amount with no interest for 180 days. We thought it was a no brainer. In addition, they would buy back our weeks every year for $2,000 per week, which from what I'm reading from everyone else, will probably never happen. We contacted Capital Marketing Distribution System who was supposed to be handling the "settlement" and who was supposed to be sending us our distribution money by September 27, 2023. When I contacted them they claimed that there would be a check forthcoming. However, two days later I received this e-mail from them..
"The transaction was processed, and disbursing your proceeds has generated a tax requirement of 41% (25% ISR & 16% IVA) by local authorities. Authorities waive this requirement when you maintain the property for a year, generating a digital invoice CFDI for exemption. The local tax office certifies invoices after 60-90 days of complying with holding the property for one year. We hired financial advisors to work the necessary procedures, absorb all expenses, and aim for you to receive the full payment without deductions or out-of-pocket expenses no later than May 22, 2024."
So now, we have to wait another 8 months just to find out IF we're going to get our money. I'm at a loss here, because we're going to have to start paying interest on that credit card. And SHAME ON YOU BARCLAY'S BANK for participating in this SCAM. I trusted the name Barclay's Bank since we've had dealing with them prior to this over the years. NEVER again. And Capital Marketing Distribution System seems to be some kind of ghost company who is using this as an excuse to NOT send the distribution money owed to consumers.