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Re: Manhattan Club Lawsuit (by Robert B.):

Irene,

FABULOUS letter, thanks for posting.

Anyone who wants to get up to speed on TMC fraud just has to read your letter and follow the informational links you have provided. Lets hope lots of owners follow your lead and send letters.

Bob Biello

irenes93 wrote:

Hi,

Checking the NY Acris records my timeshare lot was deeded 114 times with numerous liens.

Here is a letter I wrote to the federal agency registering my complaint. Consumer Financial Protection Bureau 1700 G Street N.W. Washington, D.C. 20552 Re: Manhattan Club Timeshare Scam February 25, 2015

Dear Sir or Madam:

I am writing to request your agency open a federal investigation into the practices of the Manhattan Club and its related companies.

The Manhattan Club is a New York company I purchased a timeshare, deeded property, from twelve years ago. The Manhattan Club was presented by the salesperson as a solid investment appreciating in value. The Manhattan Club, timeshare only, was presented as offering ease in booking. Maintenance Fees were $500 per year and purported to go up no more than 10% a year. None of these claims proved to be true. The Manhattan Club rents 60% of its rooms through online hotel websites like Expedia and hotel.com. The TMC timeshare I purchased for $22,000 was actually worth $1. Maintenance fees skyrocketed 400%. The Manhattan Club oversold their 286 units to over 18,000 people. Additionally, the Manhattan Club sold blocks of their rooms outright to BlueGreen Timeshares, Disney and RCI without notifying TMC timeshare owners. The Manhattan Club made 88 revisions to their TMC offering plan without notifying owners. The phone book sized offering plan from my purchase was only sent two weeks after the timeshare sale, too late to cancel. Despite, the lack of room availability, the Manhattan Club has been vicious in its demand that all TMC owners pay maintenance fees. The Manhattan Club has hired collection agencies, lawyers and foreclosed on owners who refused to pay the exorbitant maintenance fees for which they received nothing in return. One owner sold a timeshare, he paid $90,000 for, to the Manhattan Club for $1. Unable to use his timeshare he refused to pay fees and wanted to avoid having his credit ruined.

Here is recent media on the Manhattan Club scam:

Hotel in Manhattan Ordered to Halt Sale of Time Shares :http://www.nytimes.com/2014/07/26/nyregion/manhattan-hotel-ordered-to-halt-sale-of-time-shares.html?_r=0 A.G. Schneiderman Announces Court Order Barring Sales In Manhattan Club Timeshare Hotel: http://www.ag.ny.gov/press-release/ag-schneiderman-announces-court-order-barring-sales-manhattan-club-timeshare-hotel Ritzy NYC time-share developer sued for fraud:http://www.crainsnewyork.com/article/20110713/real_estate/110719963/ritzy-nyc-time-share-developer-sued-for-fraud# Timeshare a hotel hell: suit: http://nypost.com/2013/12/01/timeshare-a-hotel-hell-suit/ Big midtown time-share ordered to suspend sales:http://www.crainsnewyork.com/article/20140725/REAL_ESTATE/140729888/big-midtown-timeshare-ordered-to-suspend-sales Swanky Manhattan Club timeshare a 'bait-and-switch' scheme, State Attorney General Eric Schneiderman says: http://www.nydailynews.com/new-york/nyc-crime/posh-manhattan-club-timeshare-scam-article-1.1880844

CNBC TV Special on TMC Scam http://youtu.be/tQiyeJhecDU

Here is the link to the press release issued by the Attorney General which outlines the charges against The Manhattan Club.

http://www.ag.ny.gov/press-release/ag-schneiderman-announces-court-order-barring

The NY State Supreme Court issued an injunction against The Manhattan Club. The Manhattan Club is enjoined from selling any new timeshares, or draining its bank accounts or the bank accounts of its affiliated companies. Here is the link to the actual injunction issued by the court.

http://www.ag.ny.gov/pdfs/Order%20signed%207-24-2014.pdf

The focus of the New York Attorney General’s Manhattan Club investigation is TMC’s violation of New York State real estate laws. The AG’s investigation will not impact the thousands of defrauded TMC owners.

I ask that your agency open a federal investigation into the fraudulent practices of the Manhattan Club and its related companies. Of the 14,000-18,000 TMC owners most do not live in New York State. This makes TMC appropriate for a federal investigation.

Please feel free to contact me should you have any questions regarding this matter.

Irene Smalls