The Federal Trade Commission won a civil judgment of more than $6.3 million… (AFP/Getty )
So, you have a time-share to unload and a friendly salesperson calls to say he has a buyer. In fact, the caller can handle everything for you, including the Federal Trade Commission approval of the sale.
All you have to do is pay a $3,000 deposit, to be refunded when the transaction is complete.
Except that you never hear from the salesperson again. And by the way, the FTC does not review or approve time-share transactions.
But the FTC did take action against the operators of a company it accused of pulling off that scam, taking in millions of dollars.
On Thursday, the federal agency announced a court judgment and settlement against operators of a company called National Solutions in Florida that allegedly scammed time-share sellers across the nation.
The court imposed a civil judgment of nearly $6.3 million against one of the operators. "That was our best estimate, after examining paperwork and other materials, of how much consumers were injured," said William Hobor, an FTC staff attorney.
Other National Solution workers agreed to settlements that banned them from the time-share resale business. Settlements do not include an admission of guilt.
Are you looking to buy or sell a time-share? The FTC has an information site to help you avoid scammers.
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