Post reply

NetManagement Group (by Patrick T.):

here are some pretty good rules to check whether an offering is legit: 1. did they initiate the discussion? If this is unsolicited, it almost always is a scam. If you initiated it, then at least it means you had some reason -- friend's recommendation, Google search, check of web sites -- to believe they're legit. 2. Is offer too good to be true? Check out eBay. There are timeshares being offered for $1 -- just to get out of maintenance fees. Now, some do actually have some value. If so, contact the resort and find out what they would pay you to buy it back. If they don't want anything to do with that, then it's not worth much. 3. Check out company's web site. There are many ways to find out if it's been up for more than a few weeks or months -- i.e., if company really has been in business for years, as they all claim. Do Google search for "IP address" -- it will give you the sites to check not only when web site created, but also by whom. If the owner listed is a company like Whosis -- i.e., one that hides ownership through a third party -- then it's a major red flag. If they were legit, why would they not want to be transparent? 4. Ask for names, and check them out through Google. If they were legit, they would have an internet presence. All legit marketing and sales folks today have established Facebook or especially LinkedIn accounts -- and they post them and keep them fresh. Crooks could do the same -- but usually don't. 5. Similarly, ask for testimonials. Crooks will make them up. But then when you dig for details, like email addresses so you can verify the testimonial, rarely do they go that far. And if they do, actually verify -- ask for location so you can check these testimonial-givers out as well. 6. If there are any lawyer names, check these too. Every legit lawyer in North America belongs to a legal organization which would list him or her. 7. DO NOT PROVIDE ANY documents. Recent scam from Mexico sent several documents for you to sign, and asked for details on your transaction with time share so they "could check it out and insure you have legitimate complaint" (!!). All that would do would be to provide them with all your credit card numbers, bank records, etc. Wow -- DON"T DO IT 8. NEVER SEND MONEY UP-FRONT. Most of these crooks know that most people today won't do that -- especially if they've already been scammed. Instead, they will insist that their group never asks for any money -- just works on contingency. Sounds good, right? NO. What happens is they will wait a few weeks, claim all is well, that they've found the buyer and he's ready to go and then -- bam, the government needs their property taxes paid, or there's some last-minute snafu requiring some transfer fees, etc. But don't worry -- you'll get this right back as soon as the check clears. Or they might even claim that since it's the govt, that you'll need to send it to an escrow acct. But of course they control the escrow. By this time, most of these crooks realize they're not going to get the big fees for a full time share scam, so they're quite content with only a few thousand dollars. 9. REPORT these guys. They spring up because they're successful. The more we get these warning signs out there, the harder it will be for them. Maybe even a few ex-Navy seals will head to Puerta Vallarta to do some reconnoitering (yes, I know one personally who has planned his trip this spring). 10. Finally in the same spirit as "if it's too good to be true..." ask yourself, and then, ask them (if you've gone this far) exactly why you should believe that this group -- new as it is, with so few known clients and contacts, -- would be any more successful than others. Why them? Rich Asians? Yeah, that's what many of us fell for. But on hindsight, so naive. Why should they (Asians) waste their money any more readily than us? Good luck