A gang of 25 people who were behind ten fraudulent timeshare resale companies operating in Tenerife was arrested by Spanish Police in December, following key intelligence provided by RDO’s Enforcement team.
The ten timeshare resale companies being investigated are: Fortress International, Nowatis, American General Inc Financial Services, Tourlmus, Royal Lepage, Callaway & Brookfield Ltd, European Ltd, Real Estate Investment, Wintermann & Son Investments, and Elascan Da. Together, they are believed to have defrauded up to 10 million euros from German timeshare owners.
The fraudsters allegedly claimed to work with existing public notaries, although changing their names slightly, when contacting timeshare owners, in order to have greater credibility and encourage them to part with their money.
Following the arrests, Spanish Police conducted searches in six different locations, finding personal details – presumably stolen – of more than 100,000 European timeshare owners.
Timeshare owners who may have lost money to any of the ten companies listed should contact RDO at firstname.lastname@example.org.