CALGARY- If you’re trying to unload an old timeshare property, beware of phoney offers.
The Canadian Anti-Fraud Centre says that in the past two years, over 100 people have lost money to timeshare resellers.
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Police say they claim to have buyers or renters ready to pay top dollar, and trick the owners into paying up-front fees and closing costs. However, the timeshare is never sold or transferred.
Investigators say Canadian victims have lost over $1.5 million since 2011.
On Thursday, the Federal Trade Commission in the U.S. and 10 other countries laid 191 charges against fraudulent operations reselling timeshare properties.
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