Our very own expert Timeshare Solicitor Stephen McGlade, a fellow member of the Chartered Trading Standards Institute recently learned of a new arrest within the Timeshare relinquishment industry. The individual in question, operating in the South of England, was found guilty of “his role in the operation of three businesses for fraudulent purposes including Central Marketing 2012 Ltd and Reco Corp Ltd.”
The Trading Standards Manager at Bournemouth Borough Council said:
“[Frank] Madden was a substantial beneficiary while hundreds of victims from across the UK lost money and assets. The court heard from witnesses who had suffered from depression as a result of Madden’s activities”.
We are only too familiar with this type of suffering these Timeshare owners are feeling, with our own clients, having dealt with other scam companies of a similar nature, in a number of cases suffering from serious health issues as a result of these types of fraudulent business activities.
However, we are pleased to report we have had successful outcomes against these types of companies, claiming back the money clients paid out to these companies. If you have paid money to one of these rogue organisations, or are worried that you may have done, get in touch with a member of our team, and we will be happy to help. We are aware of over 130 different companies operating in this manner.
Mr Madden pleaded guilty during the trial, to a total of 3 counts of carrying on a business for a fraudulent purpose and was sentenced to 40 months imprisonment on the 1st May 2018. He also had two previous prosecutions for Timeshare related offences.