Mexican Cartel Targets Seniors in Timeshare Scam
In a shocking turn of events, the notorious Jalisco New Generation cartel has shifted its focus from drug trafficking to targeting seniors and their timeshares in a sophisticated scam that has netted the criminal group hundreds of millions of dollars over the past decade.
The operation involves cartel employees posing as sales representatives who call up timeshare owners, offering to buy back their investments for generous sums. They then demand upfront fees for various services, convincing their victims to wire large amounts of money to Mexico before disappearing without a trace.
According to U.S. officials, the cartel operates dozens of call centers in Mexico that relentlessly target American and Canadian timeshare owners, even going as far as bribing employees at Mexican resorts to leak guest information.
The scam represents the latest evolution of the Jalisco New Generation cartel, which has established itself in both illegal and legal sectors of the economy. With just a phone and a convincing script, cartel employees are victimizing people across multiple countries.
The victims of this scam are typically older, retired individuals who are looking to sell off assets to leave money for their families. Many victims have reported losing more money to the scammers than the initial value of their timeshares.
The Timeshare industry is booming, with billions of dollars in sales each year, making it a lucrative target for fraudsters. The FBI has seen a significant rise in timeshare fraud complaints in recent years, with American timeshare owners losing millions of dollars to various scams, including those run by the Jalisco New Generation cartel.
Despite efforts by law enforcement agencies, including sanctions imposed by the U.S. Treasury Department, arrests have been few and far between. The cartel continues to operate with impunity, creating new front companies and bank accounts to evade authorities.
For victims like James and Nicki, who lost nearly $900,000 to the scam, the consequences are devastating. They have depleted their life savings, borrowed money from family, and are now facing financial ruin in their retirement years.
As the cartel’s reach extends into legal sectors of the economy, including the timeshare industry, the need for greater cooperation between international law enforcement agencies becomes increasingly urgent to combat this growing threat to seniors and their investments.
