Niagara police are warning residents to be aware of a common scam targeting those who own timeshares in Mexico.
Police say a scammer will contact the owner of a timeshare and claim they work for an international real estate company.
The caller will tell the owner they have a buyer interested in purchasing their property. Eventually the scammer asks for wire transfers to cover the costs of legal fees, Mexican taxes, and other various closing costs. The owner is often provided with fraudulent documents and a website to make the fake company appear legitimate.
The criminal will then claim the buyer has backed out of the deal but they have another buyer in place and more money needs to be sent to cover legal costs.
If the victim discovers it is a scam, they will receive a call from someone claiming to be a Mexican prosecutor. “The “Prosecutor” will claim that several individuals have been arrested, and reimbursement can be made. Money wire transfers will then be requested to cover various legal costs in order to collect the reimbursement,” said Niagara police in a news release.
Police say the scam has been widespread across North America. Timeshare owners are being reminded to exercise due diligence when selling a property, including consulting your bank and a lawyer.
