Victim Location 28787
Total money lost $30,502
Type of a scam Rental
SUMMARY OF REGAL EVENTS RENTAL OF TIMESHARE WEEKS
Regal Events contacted my husband via email inquiring about renting our timeshare weeks in Grupos Velas Resorts in Puerto Vallarta. Regal Events said that they had a buyer who wanted to rent 5 – 10 weeks for a special event. We could rent these weeks off the end of our timeshare contract. They sent us a contract that stated we were responsible for the maintenance fees and all fees concerning the rental process; all of which were to be reimbursed by the buyer of the weeks. The rental price was $43,500.00 for the 10 weeks of rental. The buyer was to place the rental fee and my expenses into an escrow account at Manhattan Mutual Holdings (MMH). MMH would reimburse me at closing all the rental and expense fees. We checked the internet and Better Business Bureau, and nothing showed up, so we agreed to go forward. Jeff Darwin was the Regal Events representative and Bryan Silva was the MMH representative.
The first artificial fee was for the establishment of a Foreign Registration Account with the Mexican Government to ensure that the money was legal. Cost was $1,748.00 payable to Dozer Negocios , a company that would pay the fees in Mexico. Next was the closing costs and attorney fees for the Foreign Registration Account: $3,960.00. Next was payment of the maintenance fees: $15,484.00 which Dozer’s Negocios was to pay to Velas. Next was an Excess Profit Fee, which was “new”: $9,310.00. After a lengthy discussion about this fee, Regal offered to pay half of the $9,310.00 if I paid the other half. Regal’s wire transfer for half the fee failed and I ended up paying all $9,310.00. All fees totaled $30,502.00
Payout never occurred. MMH had a failed payout wire transfer to my bank. MHH insisted that I send an additional $5,580.00 and they would send me 12 certified checks for the total of $58,473.00 with supporting documents of legality. Upon each week that I refused to send them this money they were charging me $1,632.00 per week.
Along the way, we got more and more suspicious, but our contract stated that if we withdrew then we would lose all monies sent to them and owe an additional $4,000.00. We kept our side of the contract even though it was more and more horrific. After the first failed pay out wire transfer, the bank was suspicious and closed our accounts. The bank insisted that this was fraud but to ask that a certified check be sent to us. The bank would hold that money for a time until the check was cleared and could not be cancelled. No payout money was ever received. We contacted a Mexican legal firm that reviewed all our documents. Neither Regal not MMH were found in any business registries in their respective states: Regal was in Seattle, Washington, and Manhattan Mutual Holdings was supposedly in New York. The firm felt the total event had been a scam and not to pay any more money to Regal Events and Manhattan Mutual Holdings.
In trying to rent our timeshare to someone who could enjoy it, we have been victimized by scammers. We have been emotionally and financially devastated. Perhaps this text will save someone else from scammers like this. Total monies lost: $30, 502.00.
198 Wall St.
Seattle, Washington 98121
Nikki Wellmington: receptionist; Jeff Darwin: Customer Accounts Department
Manhattan Mutual Holdings
Toll free: (888) 881-0996
2702-95 Washington Street
New York, New York 10006
Dozer Negocios S.A/DE C.V.
Account/Clabe Number: 012060001124041419
Swift Code: BCMRMXMMPYM
SUCURSAL: BBVA BANCOMER #0251
Address: Boulevar Independencia #850, Colonia Torreon Centro, Coahuila Mexico