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Washington DC USA Timeshare News: July 29, 2017

It's Happy Hour at The GateHouse >> Eastern USA Timeshare News

WASHINGTON, DC: The American Resort Development Association (ARDA) and the ARDA Resort Owners’ Coalition (ARDA-ROC) have released a strongly worded statement lauding federal prosecutors for sentencing Deborah Wagner, a Williamsburg VA-area lawyer, for taking part in a scheme that made hundreds of thousands of dollars off fraudulent timeshare transactions.

As I reported last week, Wagner was sentenced to 4 years in prison for her part in a timeshare transfer scam spearheaded by the notorious Keith Kosco, who had previously pleaded guilty to Conspiracy to Commit Mail and Wire Fraud, Aggravated Identity Theft and Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity. On July 13, 2015 Kosco was sentenced to 74 months (6+years) in prison, with a release date of July 10, 2020

“We greatly appreciate the efforts of law enforcement in tackling these cases of timeshare transfer fraud,” said Robert Clements, ARDA Vice President of Regulatory Affairs. “As the former Assistant Attorney General of Florida, I can attest to the number of consumers who unfortunately fall victim to sophisticated scams like this one. This conviction is a testament to how law enforcement does not take scams lightly, and no matter your level of involvement in the scam you are still held accountable for your actions.”

ARDA and ARDA-ROC affirm that fraud in the timeshare secondary market hurts timeshare owners and owners’ associations, as well as takes credibility away from a thriving industry. Timeshare owners that fall victim to these scams are defrauded out of thousands of dollars for services that are never completed.

“ARDA and ARDA-ROC continue to vigorously pursue and support appropriate timeshare resale and transfer legislation in an effort to protect owners against fraudulent timeshare schemes,” says the statement. “To date, ARDA and ARDA-ROC have introduced, passed, or supported resale and transfer company legislation in Arizona, Colorado, Connecticut, Florida, Massachusetts, Nevada, New Hampshire, Puerto Rico, South Carolina, Texas, Virginia, and West Virginia.”

I’m not just glad that ARDA and ARDA-ROC are working on the problem, I’m also glad that they’re publicizing their actions more frequently than they used to. How can we know how hard they’re working if they don’t tell us about it?

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1 comment

  1. Sonia Wiard

    This resale problem most likely would not exist if the timeshare companies took back timeshare contracts from people who are desperate to be rid of them for a number of reasons. This makes timeshares complicit with resale companies, in my view.



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