Summary
A timeshare fraud scheme in the UK deceived over 3,500 people, most of them elderly, out of a total of £28 million. Fourteen people were convicted for running this scheme, where victims were falsely promised that exchanging their timeshares for "Monster Credits" would bring future benefits. The leaders of the scam, Mark and Nicola Rowe, used the victims' money to fund a luxurious lifestyle.
Key Facts
- The timeshare fraud involved more than 3,500 victims and a total loss of £28 million.
- Fourteen individuals, including Mark and Nicola Rowe, were convicted for their roles in the scheme.
- The scam targeted older people who wanted to sell their timeshares due to rising costs and health issues.
- Victims were lured with promises of "Monster Credits" that would supposedly grow in value but turned out to be worthless.
- The scam involved high-pressure sales tactics, with meetings lasting up to six hours.
- Money from the scam funded the Rowes' lavish lifestyle, including personal bank transfers totaling £8 million.
- Mark Rowe received a prison sentence of seven and a half years.
