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Feds close down upfront fee timeshare reselling scams ... (by R P.):
A telemarketing ring that allegedly scammed millions from consumers nationwide looking to sell their timeshares was shut down by the Federal Trade Commission, the agency announced today.There were thousands of victims, the FTC told Consumer Ally.
The FTC won a temporary restraining order halting Timeshare Mega Media and Marketing Group Inc., two related companies and six people in connection with an ongoing investigation. A complaint filed in U.S. District Court in Fort Lauderdale claims they ran a telemarketing boiler room -- a call center where telemarketers use high-pressure sales tactics -- in Fort Lauderdale.
They allegedly told timeshare owners looking to sell their units that a buyer was ready to seal a deal, but a fee -- usually $1,996 -- for sale-related costs including real estate agent, closing, title search and document fees was needed first.
A check of the phone numbers for Timeshare Mega Media listed on its website shows they are currently not in service. A short note on the site's contact page reads: "At this time we are no longer taking new customers, so that we can better serve our existing customers."