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Timeshare resale scam in Mexico

Seattle
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28 posts
3 reviews
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Timeshare resale scam in Mexico

There's a fairly fresh scam that involves several "front" companies (presumably all in Mexico) working together to defraud consumers. They prey on American travelers vacationing in such places as Cabo San Lucas, telling them they can sell their timeshare for them at an impressively high amount. To gain credibility, they claim to be part of the Sabre Travel Network (which they are not) and say that this company is willing to purchase timeshares and then use the cost for tax write-off purposes.

The wrinkle is that you need to buy a membership to a phony travel club, which allegedly allows you to stay at five- and six-star properties at highly discounted rates. Membership to this club costs $2000, plus financing fees and bank fees for foreign currency conversation on credit card charges.

They claim that you will receive payment for your timeshare within 60-90 days. But that never happens. Instead, one of the front companies insists that you must pay $700 for a title search, while another front company (claiming to handle the escrow) demands that you wire $875 in closing costs to Mexico. Then -- they demand another $800+, claiming that the bank in Mexico won't allow a wire transfer in excess of X amount of money -- and that to get your money, you have to pay attorneys' fees.

Throughout all this, there are lots of demands for documentation to prove you (the consumer) are who you say you are, but everything about them is a lie.

Here are the so-called "companies" involved:

Essential Resorts (which is allegedly a vacation property procurement company) is run by a guy who calls himself Julian Rosenthal. His colleague is Cindy Watts. This company is not licensed in the state of FL.

The Miami address they list on their web site is actually a 900 sf condo property that's zoned for commercial use.

http://www.essentialresortsltd.com

Grand Weeks/Servicios Vacacionales. Servicios Vacacionales is ostensibly in San Diego, but it's run by Raul Mendez (possibly his real name), who works his fraud from a restaurant on the marina in Cabo San Lucas.

They are not licensed in the state of CA and the office address they use is in reality only a P.O. box. Their slick marketing materials make big promises, but their service is useless. They have two web sites, one of which is now shut down.

http://www.grandweeks.com

http://www.grandweeksvip.com

Financial Services International (so-called escrow company)

http://www.financialservices-int.com

They are not licensed in the state of Texas, and are not tenants in the San Antonio, Texas building listed on their web site. Instead they seem to be running their scam from a boiler room in Mexico. Key players call themselves James Hoffman, Tony Rogers, and Frank Rivers.

All of these web sites were established last fall. It's quite possible that they were doing business under different names before, and very likely that they will all create new names and web sites again.

Consumers beware.

303 replies to this topic
Johnson City...
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28 posts
19 reviews
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141. Re: Timeshare resale scam in Mexico

I received a voice mail yesterday from "Premier Property Management" offering to rent our weeks at Cabo Viejo, which were purchased through a scam involving "Signature Integrated Travel Systems"---- a "deal" where they would pay your timeshare maintenance fees and we would be part of a discount travel club. Premier Property Management, 1-800-240-6962, I'm sure, is part of that scam. When I googled the phone number, BBB had a posting to beware, and I found this forum, which has numerous posts that describe the same scam that sucked us in. When I realized it was a scam while we were still in Cabo, I tried multiple times to cancel the contract in multiple ways. They finally negotiated a partial refund, but not a full one, even though Mexican law says you have 5 days to cancel a contract. It was an ordeal trying to get the partial refund. Beware of anything at Cabo Viejo and/or Signature Integrated Travel Systems or anything similar!

South Carolilna
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5 posts
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142. Re: Timeshare resale scam in Mexico

Thank you. This is helpful. We think we just dodged a scam about selling our week in Mexico. The companies were ADG Realty and Services in Atlanta and H&M Title company also claiming to be in Atlanta. Both requested wire transfers to Puerto Vallarta but we did not send funds after reading of Bank Wire Frauds on the insidethegate.com website. Google them and look for "Mexican Bank Wire frauds". Helpful.

Sacramento...
7 posts
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143. Re: Timeshare resale scam in Mexico

Why is the Signature Integrated Travel Systems a scam? Do they sell you a fractional ownership in Cabo Viejo? Or do they sell you an ownership in the SITS?

Tahoe Vista...
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1 post
6 reviews
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144. Re: Timeshare resale scam in Mexico

We have been scammed big time by KGHoldings in Floride working with a David Morgan in San Diego. KBHoldings chose MorganFinancial as the escrow companyfor our sale and we have had our "escrow money" (from a supposed failed time share sale) moved around to various escrow accounts in Mexico (our Timeshare was in Mexico) and have worked for almost a year with supposed Banamex Bank officials, and now think that all of them are fraudulent and working together. We will report all of this to Florida, Calif and Mexico, but do not have much hope in getting our considerable investments returned. The packet of detailed evidence sent to Banamex Bank in Mexico City, signature required on a register packet,. has never been delivered. The whole bunch are criminals and involved in grand theft.! Any news you might have will be appreciated. JDJ

Monterrey, Mexico
2 posts
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145. Re: Timeshare resale scam in Mexico

que se sabe de Internationa Timeshares Service,??

Monterrey, Mexico
2 posts
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146. Re: Timeshare resale scam in Mexico

que se sabe de Internationa Timeshares Service,??

Denver, Colorado
2 posts
1 review
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147. Re: Timeshare resale scam in Mexico

This scam is still continuing at Cabo viejo. We were almost scammed this weekend - I can't believe we almost fell for it. The salesmen Trevor and Joe were really good but they made a big mistake - I asked Trevor if I could borrow his computer so that I could check my bank account. When I had his computer, I googled the company he was representing - it used to be grand Weeks but is now signature travel. I saw so many scam alerts pop up so thankfully we were able to avoid being scammed. But I am sad for all of you who lost money to these liars. They are really good at what they do, unfortunately. And Cabo Viejo is part of the fraud if they allow this to go on.

Johnson City...
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28 posts
19 reviews
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148. Re: Timeshare resale scam in Mexico

You are fortunate that you were able to get out of there. Joe is really smooth and convincing. I think many of them change their names frequently since Joe was often referred to as James. They showed us a slick website but I wasn't allowed to get on it. Please warn others about Cabo Viejo.

Polson, Montana
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1 post
5 reviews
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149. Re: Timeshare resale scam in Mexico

we were baited right outside our grand Solmar at the bottom of the road by what seemed a nice man who ran the Cheap Tickets of Cabo .............. he asked if we were interested in getting rid of our Solmar property and getting into something that is way better no maitenance fee we just need to go to The Los Cabos Golf Resort and listen to the presentation and they would pay us 3000.00 pesos so we did it ............. ended up being 7 1/2 hours of HELL we bought .............................we felt so pressured with five huge timshare mafia men banging tables yelling that we are stupid not to puchase .............. well we have heard nothing from them about buying our timshare at the grand Solmar ....they cant get us anything comparable to rent in March 2015 like our Solmar 2 bedroom Penthouse all Global Travel Service can find us is a Studio in San Jose Cabo off the beach for 899.00 We of coarse we got SCAMMED

Johnson City...
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28 posts
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150. Re: Timeshare resale scam in Mexico

I am so sorry. We just came back from Cabo and were continually harassed to go to presentations. We also own at Grand Solmar. We resisted this time after being scammed at Cabo Viejo in November. This time they offered us $400 to go to a presentation at Hacienda Encantada. We didn't go.

I hope you didn't give them your Grand Solmar unit.

If it has been within 5 days, you have the right to cancel your contract. The hitch is they have to agree! You need something in writing that the contract is cancelled for your credit card company before they can refund you the money. Contact your credit card company immediately and also Grand Solmar so you don't lose your space there. Fight it! At least you can harass the scammers to the max!

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