How could an attempt to sell a timeshare property result in a loss of more than half a million dollars before the property is even sold? Unfortunately, for one victim of the “Planet Travel” Mexican timeshare scam, that’s exactly what happened. And they weren’t alone. This scheme defrauded over 100 victims across the US, Canada, and South America, with total losses exceeding 10 million dollars. For victims of this scam, what was supposed to be their dream vacation property turned into a nightmare that siphoned their savings and left them devastated.
Wouldn’t we all want to spend more time on vacation if we could? Taking in the sea breeze as waves lap against the sand, sipping margaritas while making lasting memories with family, friends, and loved ones? This idyllic vision is what initially draws timeshare buyers. But for a variety of reasons, many timeshare owners find they aren’t utilizing the benefits and want to sell. That's the moment when the “Planet Travel” scammers swoop in.
In this episode, we dive into the sophisticated organization behind this scheme and the mechanics of how it works—from the initial cold calls to relentless demands for additional fees. We provide a window into how they pulled it off, and the missteps they took that eventually led to arrests. This story is a reminder of the importance of vigilance and skepticism when encountering too-good-to-be-true offers.