Timeshare frauds busted in Florida, with many more under investigation

“Unfortunately many timeshare owners are getting taken advantage of multiple times,” she said. “I have seen those who have been misled or coerced into buying a timeshare and then later desperate to get out of their contract, attempt to sell their timeshare, only to be taken advantage of by a resale company.”

SWAT teams raided two timeshare telemarketing operations in Orlando this month, accused of stealing at least $1 million over the last six to eight months while not providing any services.

The sham timeshare companies were located in one office, operating under the name M and I Marketing Concepts and Maximum Properties, according to Wftv.com.

In that particular case, police said the companies convinced customers to send $1,800 to $2,200 for closing costs, but then pocketed the money and the timeshares were never sold.

“The majority of legitimate real estate transactions do not require an upfront fee to try to sell or rent a property,” said Budowski. “If a company does that, it should be a huge red flag.”

WFTV reported investigators believe there are as many as 50 cases of unlicensed timeshare companies currently under investigation.

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