In a press release dated October 12, 2012, the FTC announced they had reached a settlement with the owner of Vacation Property Services, Inc. (VPS), a timeshare resale and rental business, following a court ruling that the business had violated the FTC Act and Telemarketing Sales Rule (TSR). The FTC investigation found that VPS “made tens of thousands of unsolicited telemarketing calls to timeshare owners falsely claiming that they already had or could quickly find buyers for the owners’ timeshares” and charged consumers a large up-front fee. It further found that VPS and its manager/owner, Albert M. Wilson, misrepresented the company’s refund policy and the existence of potential buyers and called hundreds of thousands of consumers who were on the Do Not Call Registry.
Under the settlement order, Wilson is banned from all telemarketing and from participating in the timeshare resale and rental business. In addition, he is banned from misrepresenting facts and from selling consumers’ personal information. Wilson was ordered to pay more than $4.2 million, but that will be suspended when he pays $120,000 and surrenders his 2002 Porsche 911, his Spectre Sportfish boat, and his interest in VPS.
The settlement order is for settlement purposes only and is not an admission by the defendant that the law has been violated.
For more information you can trust, see