VO Financial is a Scam Run by People who Have Been Arrested for Fraud and are currently being prosecuted by the FBI.All of the top financial officers of VO Financial have been arrested for fraud. They were doing business as VO Group (Vacation Ownership Group). When all the top officers were arrested and news hit the internet, they just changed their name to VO Financial and are continuing to do the same exact illegal fraud that they were doing under the old name. (See news article below) You are just not supposed to notice the similarity in name and the fact that they are working from the exact same addresses that VO Group used with the same exact people and using the same exact fraudulent tactics. (Notice below that the address of both businesses are the same. Do not give them any money.
I have alerted U.S. Attorney Paul J. Fishman who is the lead prosecutor in the case against VO Group about the most recent attempt to fool the public.Most of the people who work for VO Financial are former timeshare salesmen for Wyndham. They were trained by Wyndham to use fraudulent sales practices. They use the same exact fraudulent sales practices that Wyndham uses and that they berate Wyndham for using on a daily basis. They will tell you how horrible the sales practices of Wyndham are and ironically, they are using the exact same techniques to get you to buy their services. They will tell you, for example, that they are calling you because they are investigating a complaint that you or a family member made. This is a lie. They do not have any information that you made a complaint. They just want you to start telling them all the things that you are unhappy with Wyndham about. (or other timeshare companys). They will tell you that they do this service for free. This is a lie. Just ask them if you have to pay any money upfront. Of course, they will not tell you the truth but you will find that you have to send them a check for many thousands of dollars or they will not do anything for you. You can do what they do for free. You do not need to pay them tens of thousands of dollars to help you. They just lead you to think that they are doing something for you that you cannot do yourself. All they do is tell you to stop paying your money to Wyndham. If you do not pay Wyndham for 90 days, they will issue a deed in lieu automatically. This happens as a matter of law. It is simply a quick foreclosure process that is provided by law and Wyndham uses. They make you think they have done some work for you but all they do is just tell you not to pay. That is Step one of the fraud. They get you out of your existing contract with your timeshare company.
Step 2 of the fraud is to buy points cheap from a secondary market for pennies on the dollars. They then sell you the points for astronomical amounts compared to what they paid for the points and for what you can get the points for on the internet from 3rd parties. The scam is complete and you will never know what they did. They fleeced you and they made an obscene profit doing it. So step 2 of the fraud is to sell you back less points than you currently own so you do not have to pay as much and you have rolled back the clock to a point where you have the amount of points that you like instead of the extra points that you do not need. There are so many lies that they tell you that I cannot begin to list them. One you should know about though is that they claim that a committee will decide if they will help you. They will tell you that so many people want their help that they can only assist the people who have the strongest case. What a joke!!! They will take anybody who pays them. They will also tell you that you have to make a decision in a hurry otherwise the committee will drop your case and they will help someone else. Does this sound a lot like the tactics of Wyndham. (You must buy today or you will not get this price again.) They will tell you that this practice of Wyndham is misrepresentation and against the law. They will not tell you that they use the same trick on you.
These people are professional liars and they use every illegal sales trick in the book to get you to purchase their product. These people need to be stopped. Until the FTC and FBI put them out of business for good, I will keep the internet up to date when they try to hide their identity again and again. Dont let them make you their next victim.News Article that was published April 25, 2002 by the newspaper Inside the Gate.Adam Lacerda, VO Group Staff Arrested for Timeshare FraudCAMDEN, N.J. (April 18, 2012) U.S. Attorney Paul J. Fishman announced yesterday that nine people from southern New Jersey were arrested for their alleged roles in a $2.4 million mail fraud conspiracy involving timeshare mortgages.Seven others were also charged in the conspiracy and will have initial court appearances in Florida, South Carolina, Virginia, and the U.S. Virgin Islands before going to New Jersey to answer the charges in Complaints unsealed yesterday. The defendants arrested in New Jersey were expected to appear yesterday afternoon before U.S. Magistrate Ann Marie Donio in Camden federal court.
All sixteen of them are affiliated with The Vacation Ownership Group, (a/k/a VO Group LLC).The nine defendants arrested in New Jersey are:Adam Lacerda, 28, Egg Harbor TownshipAshley R. Lacerda, 32, Egg Harbor TownshipSteven Cox, 48, Ventnor CityIan Resnick, 37, AbseconRyan E. Bird, 34, ClementonFrancis Santore, 52, NorthfieldBrian Corley 27 Egg HarborCatherine Bannigan, 57, Egg Harbor TownshipJoseph Diventi, 32, Somers PointAlso charged are:Alfred Giordano, 32, Horry County, S.C.Vincent Giordano, 27, MargateJoseph Saxon, 38, St. Thomas, Virgin IslandsAimee Allen, 26, Little River, S.C.Genevieve Manzoni, 46, Lake Worth, Fla.Eric Reilly, 33, GallowayEric K. Reiff, 40, Williamsburg, Va.
According to the complaint: In July 2010, law enforcement officers began investigating The Vacation Ownership Group, (a/k/a VO Group LLC). The investigation revealed that from at least March 2009 and to Sept. 1, 2011, the defendants, through the VO Group, participated in a fraudulent scheme in which representatives of the VO Group, often using false identities, telephoned owners of timeshare vacation properties purchased from Flagship Resort Development, Wyndham Vacation Resorts Inc., and other timeshare developers. They convinced the owners in some cases to submit money to the VO Group, purportedly to pay off the owners mortgages on their timeshares.The VO Group claimed that the timeshare owner could pay off the mortgage balance at a substantially reduced amount often by as much as 50 percent the amount of the owners original mortgage by mailing payment to the VO Group at a Post Office box in Pleasantville, N.J. The VO Group representatives also got timeshare owners to send the VO Group money purportedly to have timeshares cancelled or sold. After receipt of payments for the VO Groups service, the conspirators caused those payments to be deposited into a bank account in the name of the VO Group. Rather than paying off the timeshare owners mortgage, cancelling the owners timeshare, or selling the timeshare, the conspirators used the timeshare owners money for their personal use.
The investigation also revealed that in an attempt to cover up the scheme, the conspirators in most cases engaged in a bait and switch tactic by purchasing an additional timeshare in the victims name without the victims knowledge. The victim purportedly had assented to the purchase based on documents the VO Group previously emailed to the victim for signature even though the victim had been led to believe he or she was simply paying off the original timeshare mortgage. During the course of the investigation, law enforcement officers interviewed approximately 225 victims of the conspirators scheme identified to date. Many of the victims are elderly. Law enforcement has determined that the conspirators defrauded the victims of more than $2.4 million.All of the defendants except Alfred Giordano, Aimee Allen and Eric K. Reif were arrested Tuesday and are in custody.Another company associated with Adam and Ashley Lacerda is Timeshare Protection, LLC, but that company was not included in this complaint.
I was first called by Jason Greene who asked me for information regarding my timeshare experience and any misrepresentations that had been made during a sales meeting. He indicated that he would have to submit my complaint to a committee for approval. Then I god a call from Frank Merola who indicated that he was a specialist and wanted to confirm the information taken by Jason. He indicated that they had a program referred to as debt reduction, deed replacement where they would get me out of my high timeshare points (890,000), I would not have to pay the timeshare the monthly mortgage payments and that they would get me a new deed for 550,000 points. He indicated that this would cost me $30,000 and I should try to get a loan for that amount and if I couldn't, then they count provide in-house lending. I asked him how he could do this since their company had no ling to Wyndham. He said that there was legislation that indicated that Wyndham had no choice but to follow this scenario. I still could't understand why Wyndham wold give me a deed for 550,000 points and lose interest on a mortgage with a balance of about $850,000. Mr. Merola assured me that it could be done. He indicated that I would have to sign an agreement with them but not until they had all the "ducks in a row." I printed some information from their website today and the Disclaimer indicated that "VO Financial is not a resale or listing company..... As such, our services shall not be construed to be paying off any existing timeshare debt or any mortgage that may be associated with a customer's timeshare ownership" What a disappointment. Scammed once again!!!
We were contacted by this company to help with our time share we had purchased in 2009.They(VO Financial) led us to believe that they would help us to refinance our debt.Well I called Wyndham Vacation Resorts to get a pay off instead of a new loan and pay this using our savings.I ended up sending to VO Finincial the pay off.Well after I followed their instructions I started getting payment Due on our accounts after Vo Financial said they would set up lower payments for us.Today I called Wyndham To find out why they were sending me payments due when Vo Financial would secure a new contract for us.Wyndham informed me that the money I had sent VO Financial would have payed off the Time Share in full.Now I will get a new time share and still owe for this.They are very slick on how they get you to believe they are helping get out of debt.Now I am out all that I have paid them!!
VO Financial Corporation Reviews
VO Financial is a Scam Run by People who Have Been Arrested for Fraud and are currently being prosecuted by the FBI.All of the top financial officers of VO Financial have been arrested for fraud. They were doing business as VO Group (Vacation Ownership Group). When all the top officers were arrested and news hit the internet, they just changed their name to VO Financial and are continuing to do the same exact illegal fraud that they were doing under the old name. (See news article below) You are just not supposed to notice the similarity in name and the fact that they are working from the exact same addresses that VO Group used with the same exact people and using the same exact fraudulent tactics. (Notice below that the address of both businesses are the same. Do not give them any money.
I have alerted U.S. Attorney Paul J. Fishman who is the lead prosecutor in the case against VO Group about the most recent attempt to fool the public.Most of the people who work for VO Financial are former timeshare salesmen for Wyndham. They were trained by Wyndham to use fraudulent sales practices. They use the same exact fraudulent sales practices that Wyndham uses and that they berate Wyndham for using on a daily basis. They will tell you how horrible the sales practices of Wyndham are and ironically, they are using the exact same techniques to get you to buy their services. They will tell you, for example, that they are calling you because they are investigating a complaint that you or a family member made. This is a lie. They do not have any information that you made a complaint. They just want you to start telling them all the things that you are unhappy with Wyndham about. (or other timeshare companys). They will tell you that they do this service for free. This is a lie. Just ask them if you have to pay any money upfront. Of course, they will not tell you the truth but you will find that you have to send them a check for many thousands of dollars or they will not do anything for you. You can do what they do for free. You do not need to pay them tens of thousands of dollars to help you. They just lead you to think that they are doing something for you that you cannot do yourself. All they do is tell you to stop paying your money to Wyndham. If you do not pay Wyndham for 90 days, they will issue a deed in lieu automatically. This happens as a matter of law. It is simply a quick foreclosure process that is provided by law and Wyndham uses. They make you think they have done some work for you but all they do is just tell you not to pay. That is Step one of the fraud. They get you out of your existing contract with your timeshare company.
Step 2 of the fraud is to buy points cheap from a secondary market for pennies on the dollars. They then sell you the points for astronomical amounts compared to what they paid for the points and for what you can get the points for on the internet from 3rd parties. The scam is complete and you will never know what they did. They fleeced you and they made an obscene profit doing it. So step 2 of the fraud is to sell you back less points than you currently own so you do not have to pay as much and you have rolled back the clock to a point where you have the amount of points that you like instead of the extra points that you do not need. There are so many lies that they tell you that I cannot begin to list them. One you should know about though is that they claim that a committee will decide if they will help you. They will tell you that so many people want their help that they can only assist the people who have the strongest case. What a joke!!! They will take anybody who pays them. They will also tell you that you have to make a decision in a hurry otherwise the committee will drop your case and they will help someone else. Does this sound a lot like the tactics of Wyndham. (You must buy today or you will not get this price again.) They will tell you that this practice of Wyndham is misrepresentation and against the law. They will not tell you that they use the same trick on you.
These people are professional liars and they use every illegal sales trick in the book to get you to purchase their product. These people need to be stopped. Until the FTC and FBI put them out of business for good, I will keep the internet up to date when they try to hide their identity again and again. Dont let them make you their next victim.News Article that was published April 25, 2002 by the newspaper Inside the Gate.Adam Lacerda, VO Group Staff Arrested for Timeshare FraudCAMDEN, N.J. (April 18, 2012) U.S. Attorney Paul J. Fishman announced yesterday that nine people from southern New Jersey were arrested for their alleged roles in a $2.4 million mail fraud conspiracy involving timeshare mortgages.Seven others were also charged in the conspiracy and will have initial court appearances in Florida, South Carolina, Virginia, and the U.S. Virgin Islands before going to New Jersey to answer the charges in Complaints unsealed yesterday. The defendants arrested in New Jersey were expected to appear yesterday afternoon before U.S. Magistrate Ann Marie Donio in Camden federal court.
All sixteen of them are affiliated with The Vacation Ownership Group, (a/k/a VO Group LLC).The nine defendants arrested in New Jersey are:Adam Lacerda, 28, Egg Harbor TownshipAshley R. Lacerda, 32, Egg Harbor TownshipSteven Cox, 48, Ventnor CityIan Resnick, 37, AbseconRyan E. Bird, 34, ClementonFrancis Santore, 52, NorthfieldBrian Corley 27 Egg HarborCatherine Bannigan, 57, Egg Harbor TownshipJoseph Diventi, 32, Somers PointAlso charged are:Alfred Giordano, 32, Horry County, S.C.Vincent Giordano, 27, MargateJoseph Saxon, 38, St. Thomas, Virgin IslandsAimee Allen, 26, Little River, S.C.Genevieve Manzoni, 46, Lake Worth, Fla.Eric Reilly, 33, GallowayEric K. Reiff, 40, Williamsburg, Va.
According to the complaint: In July 2010, law enforcement officers began investigating The Vacation Ownership Group, (a/k/a VO Group LLC). The investigation revealed that from at least March 2009 and to Sept. 1, 2011, the defendants, through the VO Group, participated in a fraudulent scheme in which representatives of the VO Group, often using false identities, telephoned owners of timeshare vacation properties purchased from Flagship Resort Development, Wyndham Vacation Resorts Inc., and other timeshare developers. They convinced the owners in some cases to submit money to the VO Group, purportedly to pay off the owners mortgages on their timeshares.The VO Group claimed that the timeshare owner could pay off the mortgage balance at a substantially reduced amount often by as much as 50 percent the amount of the owners original mortgage by mailing payment to the VO Group at a Post Office box in Pleasantville, N.J. The VO Group representatives also got timeshare owners to send the VO Group money purportedly to have timeshares cancelled or sold. After receipt of payments for the VO Groups service, the conspirators caused those payments to be deposited into a bank account in the name of the VO Group. Rather than paying off the timeshare owners mortgage, cancelling the owners timeshare, or selling the timeshare, the conspirators used the timeshare owners money for their personal use.
The investigation also revealed that in an attempt to cover up the scheme, the conspirators in most cases engaged in a bait and switch tactic by purchasing an additional timeshare in the victims name without the victims knowledge. The victim purportedly had assented to the purchase based on documents the VO Group previously emailed to the victim for signature even though the victim had been led to believe he or she was simply paying off the original timeshare mortgage. During the course of the investigation, law enforcement officers interviewed approximately 225 victims of the conspirators scheme identified to date. Many of the victims are elderly. Law enforcement has determined that the conspirators defrauded the victims of more than $2.4 million.All of the defendants except Alfred Giordano, Aimee Allen and Eric K. Reif were arrested Tuesday and are in custody.Another company associated with Adam and Ashley Lacerda is Timeshare Protection, LLC, but that company was not included in this complaint.
I had the same experience as Concerned Citizen.
I was first called by Jason Greene who asked me for information regarding my timeshare experience and any misrepresentations that had been made during a sales meeting. He indicated that he would have to submit my complaint to a committee for approval. Then I god a call from Frank Merola who indicated that he was a specialist and wanted to confirm the information taken by Jason. He indicated that they had a program referred to as debt reduction, deed replacement where they would get me out of my high timeshare points (890,000), I would not have to pay the timeshare the monthly mortgage payments and that they would get me a new deed for 550,000 points. He indicated that this would cost me $30,000 and I should try to get a loan for that amount and if I couldn't, then they count provide in-house lending. I asked him how he could do this since their company had no ling to Wyndham. He said that there was legislation that indicated that Wyndham had no choice but to follow this scenario. I still could't understand why Wyndham wold give me a deed for 550,000 points and lose interest on a mortgage with a balance of about $850,000. Mr. Merola assured me that it could be done. He indicated that I would have to sign an agreement with them but not until they had all the "ducks in a row." I printed some information from their website today and the Disclaimer indicated that "VO Financial is not a resale or listing company..... As such, our services shall not be construed to be paying off any existing timeshare debt or any mortgage that may be associated with a customer's timeshare ownership" What a disappointment. Scammed once again!!!
We were contacted by this company to help with our time share we had purchased in 2009.They(VO Financial) led us to believe that they would help us to refinance our debt.Well I called Wyndham Vacation Resorts to get a pay off instead of a new loan and pay this using our savings.I ended up sending to VO Finincial the pay off.Well after I followed their instructions I started getting payment Due on our accounts after Vo Financial said they would set up lower payments for us.Today I called Wyndham To find out why they were sending me payments due when Vo Financial would secure a new contract for us.Wyndham informed me that the money I had sent VO Financial would have payed off the Time Share in full.Now I will get a new time share and still owe for this.They are very slick on how they get you to believe they are helping get out of debt.Now I am out all that I have paid them!!