|Latest Village News|
Izatys Resort Update 7-24-14
Izatys Resort Bar and Restaurant is now open!!! The outdoor pool will not be open until next Spring.
SAINT PAUL, MN – The Minnesota Department of Commerce has uncovered eleven unlicensed sham companies targeting timeshare owners falsely claiming to be able to sell or rent their properties and scamming them into paying thousands of dollars in transaction costs that never result in a sale or rental of their properties. In every case, the company used a fake street address on their website and in the materials they provided to timeshare owners. The addresses either did not exist or were for buildings in which the sham company was not a tenant. In one instance, a company used fake Minnesota business registration and license documents to convince a timeshare owner of its legitimacy. The Commerce Department ordered the eleven sham companies to immediately halt their alleged illegal activity in Minnesota.
The investigation comes on the heels of a Minnesota Department of Commerce enforcement action in late 2012 against Renaissance Marketing for running an alleged “bait and switch” timeshare scheme that targeted consumers across the country. The initial investigation triggered further complaints about companies offering to sell or rent Minnesotans’ timeshares often using fake Minnesota addresses.
“The Department took swift and decisive action against these alleged schemes duping timeshares owners,” said Commerce Commissioner Mike Rothman. “These sham companies are preying on people desperate to sell their timeshares with the intent to scam and defraud them out of thousands of dollars.”
The sham companies went by the names of: Global Properties Specialists, Integrated Escrow Services, Platinum Resort Services, ABS Consulting Company, World Transfer Title, Premium Properties Management, Net Management Group, Concord International Title, Continental Property Solutions, Twin Cities Property Advisors, and World Event Management.
Concord International Title, Platinum Resort Services, ABS Consulting Services, and World Transfer Title all used fake Minnesota addresses, while Net Management Group claimed to be based in Michigan and World Event Management claimed to be based in Colorado. Global Properties Specialists claimed an Arizona address but maintained it was affiliated with and used Integrated Escrow Services, which it represented had a Minnesota address. The Department’s repeated efforts to contact and obtain information from these companies by email, U.S. mail, and telephone calls went unanswered.
The Department’s investigation found that the scams all followed a similar pattern like the one used by Global Properties Specialists. Based on statements made by the scammed timeshare owner, Global Properties Specialists cold called the Michigan timeshare owner about selling their Costa Rica timeshare property and ultimately led the timeshare owner to believe that it had a buyer for the property. The timeshare owner reported that Global Properties Specialists further stated it would guarantee the sale of the owner’s interest in the property. Based on those representations, the timeshare owner agreed to wire cash in the amount of $6,550, which Global Properties Specialists claimed was a necessary transaction fee for service. After wiring the initial payment, Global Properties Services advised the timeshare owner that an additional payment of $11,790 was necessary to pay a 15% sales tax plus a 3% foreign investment tax. After they had wired the second payment, the timeshare owner was again contacted by Global Properties Specialists for yet another $4,585 for a payment of a 7% commission. After making the third payment, the timeshare owner received an email from Global Properties Specialists stating that an additional payment of $4,422 was necessary for a bank surcharge. The timeshare owner declined to make the final payment, after which Global Properties Specialists stopped answering the timeshare owner’s telephone calls and emails.
The Department’s investigation also found that the title company, Integrated Escrow Services, with which Global Properties Specialists represented it work with to complete the sale, used a fake Minnesota address and had supplied an Oregon resident with a fake Minnesota real estate and driver’s license, and a fake Minnesota business tax registration to bolster its credibility.
The Department worked with the Better Business Bureau of Minnesota and North Dakota in the investigation of these companies.
“Minnesotans need to exercise due diligence when selling their timeshares,” said Commissioner Rothman. “These scams are becoming increasingly prevalent and sophisticated, and Minnesotans should check with the Department of Commerce to confirm the licenses of purported timeshare resellers. Further, those who are considering the initial purchase of timeshares need to educate themselves on the potential benefits and disadvantages of timeshare ownership.”
The Commerce Department offers the following advice on selling and purchasing timeshares.
Timeshare Resale Scams
Timeshare reseller scams have multiplied over recent years and companies or individuals posing as resellers have scammed individuals out of thousands of dollars through false promises and upfront fees.
Purchasing a Timeshare:
The Federal Trade Commission provides a wealth of information for individuals to consult prior to making a timeshare purchase.
The Better Business Bureau of Minnesota and North Dakota has additional resources for timeshare investors. Check their website for more information.
For complaints regarding timeshare sales, contact the Securities Registration and Enforcement Section send an e-mail to email@example.com or visit Securities Registration and Enforcement Section of the website.
The Village at Izatys
Welcome to the Village at Izatys, II's only Minnesota based Premier Gold Resort.
The Village at Izatys on Lake Mille Lacs, only 90 minutes from the Twin Cities, is an exclusive yet affordable resort with year-round activities. Owners at the Village at Izatys enjoy full use of facilities of the renowned Izatys Resort including one of Minnesota's top golf courses, Blackbrook , the spectacular club house, outdoor pool, bar and restaurants and the full service marina.
Whether your interests include golfing, boating, and fishing or snowmobiling, cross-country skiing and ice-fishing, the Village at Izatys offers four seasons of endless activities.
Izatys Resort (bar, restaurant and indoor pool) Closed. This does not affect your timeshare reservations.
Please check under the 'Resort Updates' for the newest updates on the resort
To all Village at Izatys Timeshare Association Owners,
There was a fire in unit 116 of
The Izatys Townhome Association last evening. The units affected were
116,115,114 and 113. No one was hurt and there is no damage to any other
units. This in no way affected any Timeshare Units.
April 13, 2011
Izatys bank seeks new purchase agreement
The Izatys purchase was up in the air at press time on April 10. Roy Winjum is still hopeful that he will complete his purchase of Izatys Resort and get to work on a 250-site RV park when the ground thaws.
On Monday, April 4, Winjum appeared in Mille Lacs
County District Court seeking an extension to the purchase agreement he
signed over a year ago with Commerce Bank, the current owner of the
Tollette said of Commerce Bank, “They are wanting a
little more money. But nothing that’s a deal breaker. The bank just
wants to start fresh with a cleaned up purchase agreement.”
April 27th, 2010
Izatys Resort Now Open!
As of April 16th, Izatys Resorts Black Brook golf course has been open. The restaurant, bar, and marina are also open limited hours until May 1st, 2010.
When Jason Tollette announced that a pair of local businesses were going to join him to open Izatys Resort in April 2009, skeptics grinned.
Since the resort filed for bankruptcy and closed abruptly in October 2007, there just wasn't much to be positive about.
February 12, 2009
Commerce Bank Gets First Izatys Offer.
September 19, 2008
on September 11, 2008, Izatys Group LLC has turned
over control of the Izatys Resort property to Commerce Bank.
September 12, 2008
After months of uncertainty, U.S. Bankruptcy Court
Judge Nancy Dreher has ordered that the Izatys Group, LLC Chapter 11
reorganization case be converted to a Chapter 7 liquidation.
June 19th, 2008
Just prior to Wednesday's hearing Izatys Group and
Commerce Bank reached an agreement which will allow Izatys until August
31, 2008 to implement its work-out plan.
©2009 Thevillageatizatysresort.com Number of Visitors since 10/17/06