Recent reports revealed a staggering £28.1 million timeshare fraud that has affected over 3,500 individuals in the UK, particularly targeting the elderly. This scheme has left many victims in dire financial situations, with some losing their entire life savings.
Key Statistics from the Timeshare Fraud
- Total Victims: 3,583
- Total Amount Lost: £28.1 million
- Highest Individual Loss: £80,000
- Victims Losing Over £10,000: Nearly 500
- Age Group Most Affected: 60 to 80 years, with some victims in their 90s
Des’s Story: A Personal Account
One victim, Des from Mitcham, shared his harrowing experience of falling prey to this fraudulent scheme. He had sought to sell his family’s timeshares in Tenerife when he became entangled in the con. Persuaded by false promises, he took out a loan through the company, only to find himself overwhelmed with the fallout.
Des recounted, “We were devastated because I wanted to retire at the time, but now I couldn’t afford to.” He expressed frustration over the lack of support he encountered when trying to resolve his situation, stating, “Every phone call I made to the Bournemouth office, I got fobbed off.”
Impact on Elderly Victims
The fraud has significantly impacted elderly individuals, many of whom relied on their savings for retirement. Des expressed anger towards the perpetrators, labeling them as “scum.” He questioned their morality, stating, “How do these people sleep at night? They don’t care about us normal people.”
As investigations continue, the police are advising the public to remain vigilant and report any suspicious activities related to timeshare sales.
