We wanted to sell our vacation home – callers promised ‘everything under the sun’ but we ended up losing $200k
A COUPLE who were desperate to sell their vacation home ended up being swindled for $200,000.
Rod Pratt and Diana Paquette were eager to sell off their beachfront property in Nuevo Vallarta, Mexico to avoid paying spiralling maintenance fees in excess of $5,000.
CBCRod Pratt and Diana Paquette lost over $200,000 after they were swindled by brazen scammers[/caption]
The Edmonton couple, who forked out $95,000 for the time share home, were soon contacted by a broker in Atlanta who told the duo they had a client who was interested in paying $155,000 for the home, CBC reported.
The deal was finalized with the help of a Mexican real estate agent and buyer.
All that was required was for Rod to send over a handful of upfront payments.
“They have, like, these fees and stuff they wanted for opening and closing… all kinds of little ones,” he said.
“Anywhere from maybe $1,500 US to $10,000.”
However, Rod bailed after he was asked to pay for “taxes” which amounted to as high as $30,000 USD.
Following subsequent identical offers and up front payments, Rod claims he lost over $200,000 CDN to what he now knows were brazen scams.
“They were all saying they were lawyers, they were realtors. They were everything under the sun,” he seethed.
“But none of it was legit.”
The scam is believed to be the work of the Jalisco New Generation Cartel – a notorious crime outfit who have expanded their empire beyond drug trafficking and extortion to time share scams.
The organization “generates substantial revenue for its multi-faceted criminal enterprise through its time-share fraud network,” according to U.S. Treasury Secretary Janet Yellen.
Yellen added that CJNG’s fraud began with people who owned property in the popular area of Puerto Vallarta and has already expanded to Cancun and other areas.
The department issued sanctions against seven fugitives and 19 Mexican companies connected to the scam last April.
Toronto lawyer Guillermo Cruz says he receives nearly a dozen calls a month from others snared by the scam.
“The number of cases is growing,” he said.
“I think that it is quite sophisticated. Unless you have a background in Mexican law and you’re familiar with time-share law in Mexico it’s very likely that you would believe that information that has been provided is accurate.”
Rod and Diana are now licking their wounds in Edmonton as they navigate their divorce settlements.
“All I was really trying to do was get some money back for my wife and for my life,” Rod said.
“I would gladly trade the trips to Mexico for a life back.
“I wish we would have never went to Mexico.”
The FBI has revealed tips on how Americans can avoid falling victim to a timeshare scam.
Renters should be wary of calls and emails that claim people are interested in the timeshare.
Unscrupulous scammers may pressure the victim into trying to do a quick sale, per the agency.
Top tips on avoiding scams from a bank
As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam:
Be skeptical of online deals that seem too good to be true, especially on social media.
Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you.
Chase Bank warns customers to “never return any unexpected funds without calling Chase first.”
Never send money to someone you have only spoken to online or by phone as this is likely a romance scam.
Unless you 100% know who you are talking to, never give someone remote access to your device.
Never accept help from strangers at an ATM and always be vigilant when making withdrawals.
Do not send money or click any links indicating that you have won a prize.
Source: Chase.com
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