Jalisco New Generation Cartel targeting seniors and their timeshares
The Jalisco New Generation cartel in Mexico is targeting seniors and their timeshares through a scam that has netted them hundreds of millions of dollars. Victims are convinced to wire large sums of money to Mexico with promises of selling their timeshares, only to be defrauded. The cartel has expanded into legal sectors and uses call centers to target American and Canadian timeshare owners. The scam has resulted in significant financial losses for victims, some losing their entire life savings.
Key Points
- Jalisco New Generation cartel uses call centers to target American and Canadian timeshare owners
- Scam involves convincing victims to wire large sums of money to Mexico for fake timeshare sales
- Victims often end up losing substantial amounts of money, with some losing their life savings
- F.B.I. has limited jurisdiction in investigating timeshare fraud originating in Mexico
- Over $288 million has been defrauded from American timeshare owners in the past five years
- Scammers associated with the cartel prey on older, retired individuals who are looking to sell off assets
Pros
- Sophisticated scam operation that has generated significant profits for the cartel
Cons
- Victims, mostly seniors, are defrauded of large sums of money, sometimes their entire life savings
- Victims are left in financial distress and may face debt and loss of assets