First the cartel cut its teeth with drug trafficking. Then avocados, real estate and construction companies. Now, a Mexican criminal group known for its brutality is moving in on seniors and their timeshares.
The operation is relatively simple. Cartel employees posing as sales representatives call up timeshare owners, offering to buy their investments back for generous sums. They then demand upfront fees for anything from listing advertisements to paying government fines. The representatives persuade their victims to wire large amounts of money to Mexico — sometimes as much as hundreds of thousands of dollars — and then they disappear.
The scheme has netted the cartel, Jalisco New Generation, hundreds of millions of dollars over the past decade, according to U.S. officials who were not authorized to speak publicly, via dozens of call centers in Mexico that relentlessly target American and Canadian timeshare owners. They even bribe employees at Mexican resorts to leak guest information, the U.S. officials say.
“Over 5 years, American timeshare owners were bilked out of $288 million. The real number is most likely $350 million, as about 20% never register a complaint.”
A Mexican Drug Cartel’s New Target? Seniors and Their Timeshares https://t.co/DAKwfJwE37
— Dan Beucke (@DanBeucke) March 21, 2024