How could an attempt to sell a timeshare property result in a loss of more than half a million dollars before the property is even sold? Unfortunately, for one victim of the “Planet Travel” Mexican timeshare scam, that’s exactly what happened. And they weren’t alone. This scheme defrauded over 100 victims across the US, Canada, and South America, with total losses exceeding 10 million dollars. For victims of this scam, what was supposed to be their dream vacation property turned into a nightmare that siphoned their savings and left them devastated.
Wouldn’t we all want to spend more time on vacation if we could? Taking in the sea breeze as waves lap against the sand, sipping margaritas while making lasting memories with family, friends, and loved ones? This idyllic vision is what initially draws timeshare buyers. But for a variety of reasons, many timeshare owners find they aren’t utilizing the benefits and want to sell. That's the moment when the “Planet Travel” scammers swoop in.
In this episode, we dive into the sophisticated organization behind this scheme and the mechanics of how it works—from the initial cold calls to relentless demands for additional fees. We provide a window into how they pulled it off, and the missteps they took that eventually led to arrests. This story is a reminder of the importance of vigilance and skepticism when encountering too-good-to-be-true offers.
About the Show
Nickel & Crime takes you deep inside the true stories of the shocking scams that white collar criminals almost got away with. At a time when fraud is on the rise, and financial crime is increasingly sophisticated, we go behind the investigations to understand the victims, the criminal minds at work, and the risk.
In season 2, Nickel & Crime returns with mind-blowing new crimes, and immersive, stirring details. Each episode dives into the victims, the set-up, the sting, and that bold blunder that unraveled it all.
Hear about a billion-dollar tax fraud that sucked in some of the world’s most savvy investors, or the tales of the real victims and perpetrators of "grandparent scams". We’ll also bring you stories from the bizarre world of job phishing.
From identity theft to social engineering attacks, and Ponzi schemes, Nickel & Crime breaks down some of the most fascinating and insidious financial crimes of the last decade and examines what new crimes are coming our way.
About Early Warning
Nickel & Crime is brought to you by Early Warning®, a financial services technology leader that has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. Early Warning is also the company behind Zelle®, and the soon-to-launch PazeSM, a wallet that reimagines e-commerce payments. Early Warning partners with more than 2,500 banks and credit union brands to increase access to financial services and products and protect financial transactions.
Learn more about Early Warning at https://www.earlywarning.com/
What financial crimes fascinate you? What questions do you have about risk and security? Connect with Nickel & Crime by commenting in the reviews, or email us at nickelandcrime@earlywarning.com
