Headline: New York Times, 3/21/2024
It boggles the mind that someone can be so cavalierly with their money.
Mr. Finn realized how serious this type of fraud was becoming four years ago, when he received a call from a desperate woman whose mother had wired $1.2 million, her entire life savings, to Mexico to sell her timeshare. [emphasis added]
The timeshare industry is booming, with $10.5 billion in sales in 2022, a 30 percent jump from the year before, according to the American Resort Development Association. Nearly 10 million American households own timeshares, the association said, spending an average of about $22,000 for their investment on top of annual fees of around $2,000. Most timeshares are beach resorts.
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