In May we arrived late at the airport and booked a taxi to Playa del Carmen where we were staying. After booking the taxi, the clerk escorted us to someone wearing a badge claiming to be a "tourism official". We were told by the individual that the tourism office picks different hotels to promote in Cancun and for $40 they would provide transportation and a free breakfast for checking out the hotel as a possible choice the next time we come. We were assured it was not a timeshare presentation and since we were not staying in Cancun, we decided this would be a good opportunity to see Cancun.
It was a timeshare presentation and when we stated that due to other commitments we would not be able to use this timeshare, our sales representative, Steve Levy, proceeded to tell us we could rent out the weeks for a guaranteed rental income through a broker they were associated with and that financing was available through Bank of America. As part of the promotion, Bank of America would provide the financing with a zero percent interest rate for the first six months. We were "guaranteed" to receive $10,500 in rental income at the end of August before the payment for the credit card was due and another $10,500 in February.
Although skeptical, I am embarrassed to say, we fell for it. I told my husband, if Bank of America is financing this, it has to be a legitimate company. At the time, banks were considered to have integrity. I could not have been more wrong.
Upon returning to the US, I researched and found numerous other victims who were defrauded by this scam. The broker they set us up with, MyVacationBrokers.com, who had a Better Business Bureau member logo on card, in fact had an F rating with BBB for unanswered complaints. I immediately contacted Bank of America and filed a dispute. Originally, Bank of America credited my account but later reinstated the charges indicating I could not prove that I did not get what I was promised.
Bank of America has had several complaints against this company and continues to assist in the financing for this scam in order to make a profit at the expense of their customers.
I urge anyone who has been a victim of this company with Bank of America's assistance to file an email report with CBS on their website at CBSnews.com under their CBS News Investigates section. I believe Bank of America's involvement could provide incentive for exposing this fraud nationally.
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