Fake companies and investment fraud
Investment scams are often so professional, slick and believable that it is hard to tell them apart from genuine investment opportunities. Our tips break down how investment scams work.
This was first posted to The Straits Times in August 2015, It seems that unscrupulous firms are out in force trying to make a quick buck from previous victims of timeshare scams.
The Consumers Association of Singapore (Case) put out an alert on three such companies yesterday. They are: AJ Chartered, Interval Resorts Network and Asian Travel Club (ATC).
In November 2016 The Timeshare Consumers Assocaition reported on the property scheme ‘Harlequin’ being sued by its investors for £400m in respect of ‘using’ them to fund their build projects. The full story can be read here. In the same article in November, it was said
Just in the United States alone State Attorney General offices and other enforcement agencies across the nation have been inundated with timeshare resale and rental complaints, so much so that some State Attorneys General have moved many of these timeshare resale scammers to the top of their investigative plates.
Buying a timeshare vacation rental has often been fraught with fraud. Now scammers are targeting owners who want to sell.
During tough economic times, many timeshare owners may decide they can no longer afford their vacation rentals. Or they may have inherited a timeshare as part of a parent’s estate and don’t want to keep it.