How Undercover Recording Exposed a Multi-Million Pound Timeshare Scam

It has been described as one of the largest deceptions of its kind in the Britain.

Altogether 14 individuals have been convicted for their part in a multi-million pound scheme to defraud in excess of 3,500 holiday ownership owners.

The victims were desperate to get out of long-standing timeshare contracts and sought out support.

A large number were from 60 and 80. More than 500 of them parted with more than £10,000, and one individual paid over £80,000.

Those targeted were subjected to aggressive consultations lasting up to six hours. They were out of money, owning valueless fake "credits" and still trapped in high-priced timeshare contracts they often use.

The Business Behind the Fraud

The business at the heart of the scam was Sell My Timeshare (SMT). They collected clients' cash to finance the owners' opulent standard of living of exclusive education, high-end properties and personal aircraft.

The man at the top of the firm, Mark Rowe, was sentenced to a seven and a half year sentence in January for fraudulent conspiracy.

In the latest development, his partner another individual was one of the final three to hear their sentences.

She was given a two-year suspended jail sentence at the London court after pleading guilty to financial crime.

It has been a extended wait and signifies a major victory for the people who spoke out, the police and legal representatives.

How the Probe Began

I first heard about the firm came in the mid-2016. The position was in the research department of a media outlet, creating current affairs programmes.

A colleague noted that his mother had inherited the use of a vacation unit in a European resort and, after long-term use, had started seeking to get out of the agreement.

It's worth mentioning how common holiday ownership had evolved with UK travelers in the eighties and nineties.

Holiday ownership enabled people to access the equivalent unit each season, or trade their time slots with additional holders who had properties in other resorts. Approximately 600,000 holiday enthusiasts accepted that opportunity.

The initial boom was linked to a numerous accounts about unscrupulous sellers deceptively promoting investments. They were regularly featured on consumer shows.

The common holiday ownership agreement locked buyers for long periods.

At that time, those owners who had experienced their regular accommodation in the sun for decades were ageing, and a significant number were attempting to say farewell to their holiday properties.

Some had reduced ability to travel and were unable to visit their properties. A few just felt they'd achieved their goals from them. And a portion had died, in frequent situations passing on their heirs to inherit the agreements - including their regular contributions and service charges.

The Covert Probe Unfolds

It was at this point the relative had found herself. She searched the web for answers and found the company, a firm whose website assured to get her out of her deal.

However, having paid a fee and scheduled a consultation with them, her relatives had doubts.

Additional investigation uncovered numerous individuals reporting they had paid money and achieved no result out of it. Indeed, they had lost money. A lot of it.

The reporting group started looking into what was happening. It was rapidly apparent that there were dubious individuals operating in the vacation property industry.

A legal professional had numerous client reports waiting to sue SMT.

We spoke to individuals who had dealt with the organization and they each reported similar experiences. They assumed the business would buy their property away from them but when they went to a consultation (for which they paid up front) they were advised there was no market for their property.

In place of that, they were persuaded - actually pressured - to invest additional funds acquiring "Monster Rewards", associated with the outfit's parent company, Monster Travel.

The nature of these rewards was somewhat vague. They sounded like a type of exchange medium, offering cheaper vacations and amenities and shopping deals.

And they were reportedly "tradable" with fellow investors, at a future date.

Committing funds immediately would produce an future return that would cover SMT's fees and leave the investor in profit, freed at last from their burdensome deal.

Too good to be true? Certainly, that proved correct.

A 'Deceptive Scheme'

If these accounts were correct, this was a large-scale fraud.

The technique is termed a "bait-and-switch."

An operator - specifically SMT - "lures the client by promoting a defined offering but then to claim it is unavailable, pushing the customer in the direction of a different, lower-quality option.

Such practices are unlawful. Equipped with all the accounts we had collected, we made the case to covertly record one of the company's meetings.

Such an operation demands dedication, work, and clear arguments for why this is the only way to obtain the evidence necessary to confirm deceptive practices.

Armed with that permission, our limited crew arranged a consultation with one of the firm's agents in the location.

Pretending to be a ordinary individual hoping to help his mother free from her timeshare contract|holiday ownership agreement