In a distressing tale of deception, an elderly woman from Roanoke County fell victim to a cunning timeshare scam, losing over $40,000 to fraudsters. The scheme, part of a decade-long nationwide scam, targeted hundreds of senior citizens, swindling them out of a staggering $4.5 million. The story of M. Thomas, who was duped into believing she would be able to sell her South Carolina timeshare, sheds light on the ruthless tactics employed by the scammers.
The Scam Unfolds
In 2018, a scam targeting M. Thomas began, unfolding a distressing journey for her. A man named “Gene Andrew” from “Paramount Media” initiated contact. He approached Thomas with an appealing proposition – offering assistance in selling her timeshare. For Thomas, struggling with the challenges of travel due to her age, this offer seemed like a perfect opportunity to offload her property. She trustingly engaged with Andrew, who came across as persuasive and knowledgeable.
As they interacted further, Andrew brought up the need for upfront fees. He assured Thomas that such costs were standard and necessary for the sale process. Convincingly, he promised that these fees would be reimbursed once the timeshare sold, depicting a straightforward and risk-free transaction. Trusting his word, Thomas agreed and made her first payment, not realizing this was the start of a prolonged scam.
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Over time, the initial agreement with “Gene Andrew” turned into a continuous pattern of deceit. Andrew, taking advantage of Thomas’s trust and her desire to sell her timeshare, started requesting more money. He justified each request with plausible reasons, such as additional marketing costs, legal fees, or other sale-related expenses. With each payment Thomas made, Andrew reassured her that the sale was progressing and that she would soon see returns on her investments.
However, these promises never turned into reality. Instead, Thomas found herself trapped in a cycle of false promises. Over several years, she made numerous payments to Andrew and “Paramount Media,” with the amounts ranging significantly from as low as $450 to as high as $6,000. Each payment dragged her deeper into the scam, as she continued to hope for a successful sale and the return of her funds. Without her knowledge, each transaction only deepened her losses in a scam that was intricately designed to exploit her trust and financial resources.
Indictment of the Perpetrators
The federal indictment of Michael Alexi Dragunov and Christopher Michael Lang in Los Angeles recently marks a significant development in a complex case of widespread fraud targeting elderly timeshare owners. Identified as the masterminds, Dragunov and Lang orchestrated a deceitful operation that spanned the United States, using multiple companies and aliases. This far-reaching scam exploited vulnerable individuals in numerous states and was not confined to a single region.
Dragunov and Lang employed a sophisticated and deeply deceptive strategy. They established and utilized various business entities, adopting numerous aliases to conceal their true identities and evade detection. This intricate web of companies and false identities played a critical role in their scheme, providing them anonymity and the means to manipulate their victims effectively. While these businesses appeared to help timeshare owners sell their properties, they were, in reality, fronts for the scam.
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The charges levied against Dragunov and Lang are serious and reflect the severity of their actions. They are accused of conspiracy and wire fraud, specifically targeting the elderly – a demographic particularly vulnerable to such deceptions. These charges underscore the calculated and predatory nature of their crimes, as they knowingly exploited the trust and financial resources of their victims. The indictment alleges that their actions were not merely opportunistic but were part of a well-orchestrated plan to defraud.
Facing up to 30 years in prison, these charges carry significant weight, indicating the gravity with which the legal system views such offenses. The potential length of the sentences also serves as a testament to the impact of their crimes, both in terms of the financial losses incurred by their victims and the moral reprehensibility of their actions. The indictment of Dragunov and Lang is a pivotal step in addressing the injustices suffered by the many victims of this scam and serves as a warning to others who might contemplate similar fraudulent schemes.
The indictment reveals that over 370 victims across various states have been defrauded by this scheme. The perpetrators cleverly manipulated their victims, using their savings, retirement funds, and even Social Security income to enrich themselves.
Warnings and Advice
The scam involving M. Thomas and other elderly victims has prompted the Better Business Bureau (BBB) and various consumer protection agencies to issue stern warnings about the risks associated with timeshare resales. The following are key pieces of advice and precautionary measures for timeshare owners:
➤ Beware of Upfront Fees
One of the most glaring red flags in timeshare resales is the request for upfront fees. Scammers often justify these fees as necessary for advertising, legal costs, or other services, but in reality, these are often tactics to siphon money from unsuspecting owners. The BBB strongly advises against paying any fees before the service is fully delivered.
➤ Research and Verify
Before engaging with any company offering to sell or resell a timeshare, it’s crucial to conduct thorough research. This includes checking the company’s background, reading reviews, and verifying its legitimacy through organizations like the BBB. Additionally, confirm that the company is licensed and registered to operate in the field of real estate or timeshare resales.
➤ Legal and Financial Consultation
Before making any decisions or payments, timeshare owners should consult with a legal or financial advisor. Professionals in these fields can provide valuable guidance on the legitimacy of the resale offer and the implications of any proposed deals.
➤ Be Cautious of High-Pressure Tactics
Scammers often use high-pressure sales tactics to rush victims into making decisions. Legitimate businesses will give clients time to consider their options and won’t pressure them into immediate action.
➤ Report Suspicions
If an offer seems suspicious or if a timeshare owner has fallen victim to a scam, it is important to report the incident to authorities. This can include local law enforcement, state consumer protection offices, the BBB, or the Federal Trade Commission (FTC).
By adhering to these guidelines, timeshare owners can better protect themselves from scams and make informed decisions about their property. Remember, if an offer seems too good to be true, it probably is. Always proceed with caution and seek professional advice when in doubt.
Conclusion
The case of M. Thomas is a sobering reminder of the vulnerability of the elderly to such scams. It highlights the need for increased awareness and education on these fraudulent schemes to protect others from falling prey to similar fates. As the trial of Dragunov and Lang approaches, many await justice for the victims of this heartless scam.
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