California Real Estate Fraud Report

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Real Estate Fraud Scam Targets Time Share Owners in Mexico

Time share properties are rarely a good investment. In bad economic times, they are nearly impossible to sell.

In a scheme reminiscent of the advance-fee fraud scams perfected by Nigerian con artists, fraudsters have been calling owners of time shares in Mexico and making them tantalizing offers: the so-called buyer will purchase the time share either at or above market value, as long as the seller pays the  10 percent tax to the Mexican Tourism Department upfront. The seller is promised a return of the money after escrow.

The painful truth is that those sellers who paid those upfront fees lost all of their money to this new, deceptive form of real estate fraud.

The fraudsters have apparently stolen the identities and real estate licenses of ERA Property Movers agents in order to convince the property owners they were legitimate. Interestingly, they say they are from the Fresno office of ERA, but the chain owns no offices in that city.

Read the original article in the Orange County Register.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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