July 03, 2013 - 3:38 PM
KELOWNA - A 79-year-old man thought he was selling his timeshare property but ended up being scammed out of almost $60,000.
The Kelowna resident was approached by a timeshare reseller called World Wide Timeshare Properties with an offer. The company told the man they would sell his timeshares and he agreed. They then said there was a buyer, but the owner would have to pay taxes and other charges up front by sending the cash through an escrow service called All American Transfers. Neither World Wide Timeshare or All American Transfers are legitimate companies, though they do have professional looking websites.
The man lost the money he transferred to the scammers.
"If you are approached by a company to buy, sell, trade or rent your timeshare, please take the time to research and verify them," RCMP Const. Kris Clark stated in a press release. "Reputable companies tend to post information about themselves online, including their location, their phone and fax numbers and details like their membership in organizations such as the Better Business Bureau. If you can't find anything about them online or through other agencies, it is likely a scam."
Before sending any money, the RCMP say to be absolutely certain all possible steps are taken to ensure money is safe. While an escrow service (reliable third party) can help protect an investment, research and verify the escrow service, even those approved by the reseller.
News from © InfoTel News Ltd, 2013