The Australian Timeshare and Holiday Ownership Council (ATHOC) has welcomed the arrest of two men in Victoria in relation to alleged frauds relating to timeshare holdings.
It is alleged the men were trading under business names of Movacation, Aussie Timeshare and Minivacation.
Detectives believe the alleged offences are not restricted to Victoria and that people in other states may have been targeted.
Laura Younger, general manager of ATHOC, said consumers should be careful when purchasing timeshare in the unregulated secondary market, or from someone who does not hold a security dealer’s licence.
“If purchasing time privately, ensure that you use a solicitor as a mediator who holds all funds within their trust account,†Younger advises.
“You should also contact the resort that your are buying time in to ensure that you are purchasing from the rightful owner.â€
Younger said reliable companies such as Accor Vacation Club, Classic Holidays, Wyndham Vacation Resorts Asia Pacific and The Holiday Club, are members of ATHOC, the regulatory body, and adhere to tight regulations to protect their customers, and to protect the industry’s reputation.
Police are keen to speak to anyone who believes they may have cause for complaint about dealings with the companies currently under investigation.
Anyone with information is requested to contact Crime Stoppers on 1800 333 000 or www.crimestoppers.com.au
