Title: "Treasury Department Sanctions CJNG-Linked Cartel Members in Puerto Vallarta Timeshare Fraud Scam
The Treasury Department has imposed sanctions on individuals and companies associated with a violent cartel involved in timeshare fraud targeting Americans in Puerto Vallarta, Mexico. The department warns U.S.-based timeshare owners to conduct due diligence to avoid falling victim to scams that can drain their life savings.
The sanctioned individuals and companies are linked to the Cartel de Jalisco Nueva Generacion (CJNG) and are based in or near Puerto Vallarta. The Treasury Department aims to disrupt the cartel's revenue streams, including timeshare fraud, which targets older Americans and can lead to financial devastation.
The CJNG members involved in timeshare fraud, such as Montero, Rivera, Gudino, and Ibarra, have been sanctioned. Additionally, several companies explicitly involved in the timeshare industry, as well as other real estate and service companies, have also faced sanctions for their alleged fraudulent activities.
The CJNG, designated as a Foreign Terrorist Organization, has been increasingly using alternative revenue streams like timeshare fraud to supplement its drug trafficking proceeds. The Treasury Department urges caution to current and potential timeshare owners in Mexico, emphasizing the importance of conducting thorough due diligence before engaging in any transactions.
Mexico-based cartels, including CJNG, have been targeting U.S. timeshare owners through call centers in Mexico, leading to financial and emotional devastation for victims. The scams, facilitated by insiders at timeshare resorts, involve various fraudulent schemes that require victims to pay advance fees and taxes, resulting in significant financial losses.
The Treasury Department and the FBI have issued warnings about timeshare fraud associated with Mexico-based cartels, highlighting the prevalence of such scams and the substantial financial losses incurred by U.S. victims. Despite efforts to combat these fraudulent activities, many victims do not report the scams due to embarrassment or other reasons, leading to underestimations of the total losses.