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After carving a path through drug trafficking, the Jalisco Cartel diversified into a ruthless economic empire, swallowing avocados, real estate, and construction companies whole. Now, it seems no nest egg is safe – senior citizens and their timeshares are their latest target.
The scam is deceptively simple. Posing as legitimate salespeople, cartel operatives call timeshare owners with enticing buy-back offers. They then pressure victims into upfront fees – for things like “listing ads” or bogus “government fines.” Persuading them to wire hefty sums (sometimes hundreds of thousands) to untraceable accounts in Mexico, these criminals vanish without a trace. This ruthless scheme, netting the Jalisco New Generation cartel hundreds of millions over a decade, is fueled by a network of call centers relentlessly targeting North American timeshare owners. U.S. officials allege the cartel even resorts to bribing Mexican resort staff to leak guest information.
The Jalisco New Generation cartel’s expansion into timeshare scams isn’t just a financial maneuver, it’s a chilling sign of their growing reach. Even their own call center employees aren’t safe, as evidenced by the horrific discovery of eight young workers last May. This ruthless organization targets vulnerable seniors looking to offload timeshares, often swindling them out of their entire investment.
Timeshares are on the rise, with sales exceeding $10 billion in 2022. This boom, however, is accompanied by a surge in timeshare scams. The FBI has seen a 79% increase in complaints over the past four years. Unfortunately, investigating Mexico-based scams and pursuing legal action there can be challenging due to jurisdictional limitations.
U.S. officials, like James Barnacle of the FBI, acknowledge their frustration. These scams are difficult to tackle because they rely on stolen data and operate outside U.S. jurisdiction. Barnacle himself admits U.S. agencies are largely limited to public warnings, highlighting the ease with which criminals exploit personal information.
The FBI estimates timeshare scams have swindled Americans out of a staggering $288 million over the past five years. This figure likely only scratches the surface, with the bureau itself believing only one in five victims actually file a complaint.
Nicki, a cancer survivor, described the scam’s impact with a heavy heart. Years of saving for a comfortable retirement vanished in an instant. Now, facing mounting medical bills, they’re contemplating returning to work part-time. The financial loss is compounded by the betrayal of trust, leaving Nicki with a bitter sense of injustice.
Written by Mexpat Realtors – August 2024
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