The Insolvency Service has reported that Rest Assured Property Services Ltd, which targeted victims of a previous holiday club scam, the Club Class holiday club, has been closed down by the High Court following an investigation by the Insolvency Service.
The investigation found that Rest Assured cold called members of the Club Class holiday club and offered to sell their membership to interested buyers in exchange for an upfront fee of £749.
After the victims paid this initial fee, they received contract papers and then received further telephone calls demanding that they make additional payments of between £960 and £1460 to enable the sale to progress.
Rest Assured used this method to take £226,000 from its victims but did not sell on a single holiday club membership on their behalf.
The court heard how the company passed on the money to several individuals, some of whom had no known connection to the company. These people spent the money on flights, hotel bills and designer shopping.
All the known victims of Rest Assured were also all members of the Club Class holiday group, seven connected companies which were wound up by the High Court last year.