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| Subject: The Star Online - Time-share members lose RM1mil in scam (March 17, 2006) | |
Author: ccn666 | [ Next Thread |
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] Date Posted: Sun, Apr 09 2006, 17:21:54 The Star NEWS Nation Friday March 17, 2006 Time-share members lose RM1mil in scam http://thestar.com.my/news/story.asp?file=/2006/3/17/nation/13696326&sec=nation KUALA LUMPUR: Several companies believed to be operated by the same group have allegedly raked in more than RM1mil from members of a time-share vacation club. The companies, located in Penang, Johor Baru and here, would contact the club members and offer to get buyers to take over their memberships at a higher price. The members were however required to pay a “refundable” processing fee ranging from RM888 to RM2,500. Members also had to pay an additional amount to join a similar club set up by the companies. Some members who made the switch did not suspect anything amiss until the offices started closing down from January and the operators went missing. Yesterday, more than 40 victims sought help from MCA Public Services and Complaints Department head Datuk Michael Chong. “A man telephoned me in October 2004 and said his company could help me sell my club membership,” said Dr Ariffin Mansor from Johor. “Since the club facilities were always booked, I thought I would not lose anything as the processing fee was refundable. So I gave the company RM2,300 to help me sell the membership.” Dr Ariffin, 40, said the company had claimed it would buy back his membership after five years for about three times its worth. Two weeks ago, Dr Ariffin was asked to pay another RM18,000 if he wanted the company to buy over the membership within a year but he rejected the offer. Chong said the victims had lodged individual police reports. He urged the victims to inform their original vacation club of the incident and request the management to stop transferring or terminating their memberships pending investigations. Chong, who will meet the police and the relevant authorities over the scam, urged other victims to fax him a copy of their police reports at 03-2161 9772. [ Next Thread | Previous Thread | Next Message | Previous Message ] |