Platinum Managment Solutions (PMS) contacted us saying they had a corporate buyer from Mexico that wants to purchase time share points as a taxs writeoff and use by employees. They will pay $61,000 for our 300,000 WYndham points. At end of sale I will pay 7% commission to PMS. They ask for copies of contract to show actual ownership of points and ask you to sign a "proposal" only.
They then create a three page sales agreement and have North South Title contact you who tell you that they are the escrow agent for processing the funds and title work.
I checked on PMS and could not find them listed with the Colorado Secretary of State as a business. I checked on NST and could not find them listed with the Iowa Secretary of State. I contacted other title companies in Davenport and no one ever heard of them. I called a lawyer with address in same block and they never heard of them.
I then called NST and asked for the name of some lawyers that had used their services. They said they would get back to me. Never heard from the. I found a press relase on PR.com by the Vice President (Donald Jackson) of Consumer Relations for NST and then called NST and asked to speak with him. They said there was no one by that name there. I then told him he was a Vice President and they asked me for my name. I hung up.
I then got another call from PMS and asked if I was ready to sign the sales agreement and I told them I didn't think they were legit and would not be signing.
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