Feds Bust Alleged $2.4M Timeshare Fraud Scheme - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Feds Bust Alleged $2.4M Timeshare Fraud Scheme

Posted:

NEWARK, N.J. (AP) - Nine people have been arrested in New Jersey in what federal authorities are calling a timeshare mortgage scheme that preyed on the elderly.

The U.S. Attorney's Office unsealed a criminal complaint Tuesday that charges nine southern New Jersey residents and seven others in Florida, South Carolina, Virginia, and the U.S. Virgin Islands. They face mail fraud conspiracy charges that carry a maximum 20-year sentence.

They're accused of calling timeshare property owners and offering to pay off their mortgages at reduced amounts. The property owners then sent their payments to a post office box in Pleasantville.

The conspirators would then take the money and use it for personal purchases or, in some cases, buy additional timeshares in the names of unsuspecting victims.

Authorities say the scheme made roughly $2.4 million.

 

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Delmarva Power: Conserve Energy on Tuesday

    Delmarva Power: Conserve Energy on Tuesday

    Monday, September 1 2014 9:22 PM EDT2014-09-02 01:22:31 GMT
    Delmarva Power is asking customers to conserve energy on Tuesday due to high forecasted temperatures.More
    Delmarva Power is asking customers to conserve energy on Tuesday due to high forecasted temperatures.More
  • Woman Suing Ocean City Over Wheelchair Accident

    Woman Suing Ocean City Over Wheelchair Accident

    Monday, September 1 2014 9:22 PM EDT2014-09-02 01:22:24 GMT
    A woman who says a defect in a wheelchair sidewalk ramp in Ocean city caused her to fall out of her wheelchair and break her arm is suing the resort town for negligence.More
    A woman who says a defect in a wheelchair sidewalk ramp in Ocean city caused her to fall out of her wheelchair and break her arm is suing the resort town for negligence.
    More
  • Tourism Season Extending, Chamber Says

    Tourism Season Extending, Chamber Says

    Monday, September 1 2014 6:42 PM EDT2014-09-01 22:42:36 GMT
    Labor Day is often considered the unofficial ending to the summer season, but the Rehoboth Beach, Dewey Beach Chamber of Commerce is reporting that tourism is actually on the rise during the typically less popular months of September, October and November.More
    Labor Day is often considered the unofficial ending to the summer season, but the Rehoboth Beach, Dewey Beach Chamber of Commerce is reporting that tourism is actually on the rise during the typically less popular months of September, October and November.
    More
Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service