Beware of long-distance time share scam

REALTORS® should be aware of a fact pattern involving the deceptive and unauthorized use of an Illinois real estate licensee’s name and license number, in an attempted time-sharing scam in Arizona.

An Illinois REALTOR® reported he was falsely listed on a contract as the broker for a Chicago corporation selling lodging rights to a property in Mexico. The contract even included the REALTOR®’S license number. An Arizona REALTOR® discovered discrepancies in the proposed contract, stopped the transaction and referred the matter to the Illinois Department of Financial and Professional Regulation (IDFPR), police and the Federal Trade Commission.

Be alert for fact patterns similar to this one, and if you hear of something like this, report the matter to the authorities. If you are contacted on a transaction which sounds unfamiliar, follow up and ask questions and for copies of related documents. Contact your attorney with questions.

 

2019-01-11T14:35:23+00:00January 11th, 2019|News|0 Comments

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