ATLANTA — The Governor’s Office of Consumer Protection is warning consumers about a timeshare resale scam in which scammers falsely claim that they are representatives of Georgia Escrow Services.
Here is how the scam typically works: Consumers who own vacation timeshares in Mexico receive a phone call from someone allegedly working for a travel company.
The caller tells the consumer that there is a buyer interested in purchasing the consumer’s timeshare property and Georgia Escrow Services will act as the escrow agent.
While the timeshare sale is supposedly pending, the company posing as Georgia Escrow Services adds previously undisclosed fees and taxes, which consumers pay upfront via wire transfers.
One consumer lost over $100,000 in this scam.
While there is a legitimate company called Georgia Escrow Services, it has nothing to do with timeshare sales or vacation travel packages, nor does it market its services to consumers.
Scammers have hijacked the identity of this business to perpetrate the fraud, filing fraudulent documents with the secretary of state and creating a fake website.
This all makes it so that a consumer investigating the company online or with the secretary of state is led to believe that the Georgia Escrow Services they are communicating with is legitimate.
Consumers who believe they have been victims of this scam should visit www.ftccomplaintassistant.gov.