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UPDATED: 4 more indicted in timeshare scam

UPDATED Monday, October 21, 2013 --- 7:41 a.m.

MILWAUKEE (AP) -- Four more Wisconsinites have been indicted in what federal prosecutors say is a timeshare scam that swindled more than 1,400 people out of more than $2 million.

The U.S. Attorney's Office says the four Fox Valley residents operated companies under numerous names in Green Bay from 2007 to 2011, including Midwest Timeshares and National Timeshare Resales.

Previously four others were indicted in the alleged scam. Prosecutors say the defendants told their victims that buyers were ready to purchase the timeshares and all they had to do was pay upfront "administrative fees" that ranged from hundreds to thousands of dollars. The Journal Sentinel says the victims were denied refunds they were supposed to receive if their timeshares didn't sell.

The four people originally charged in July are scheduled in court Nov. 26.

Copyright 2013: Associated Press
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Posted: Saturday, July 13, 2013 --- 8:05 p.m.

MILWAUKEE (AP) -- Four Wisconsin residents have been charged with scamming thousands of consumers out of $2 million in fees to sell their timeshares.

A Milwaukee Journal Sentinel report says the four allegedly cold-called owners of timeshare properties offering to help them sell their properties for a refundable fee. Prosecutors say the group then did nothing to sell the properties and refused to refund their money.

The criminal complaint says the defendants charged timeshare owners anywhere from $200 to $2,500 apiece in fees.

Investigators reviewed hundreds of cases and didn't find a single instance where the defendants' companies sold a timeshare. They say the most the suspects did was post the properties on an internal website.

Authorities say the scam prompted more than 100 complaints from more than 30 states.

Copyright 2013: Associated Press


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