Manhattan Club Lawsuit

Bob Bielo, Well written letter to AG's office. Thank you. One has to wonder if this thing was really resolved or just effectively another stall on the part of Eichner, etc. Dee

Hi

An estimate of the number of weekly unit equivalents not paying maintenance fee can be estimates as per below:

Reserve for Bad Debt per Schedule B of 2018 $7,000,000 (it has grown from $2 million a few years ago)

Weighted average of 1 week maintenance fee = $2,500 per equivalent weekly unit

Therefore number not paying = $7,000,000 / $2,500 = 2800 apprx. not people but units remember we have 1/2 weeks, alternated year owners etc.

Weighted average Number of Full Weeks 15392 per budget Estimated leaving 2800

Remaining weeks 12592 Lost Rev $7,000,000 Increased Cost per weekly equivalent unit $554.48 rough estimate say round to $500

Not chump change as it used to be 3-5 years ago

John

Bob, great letter! Although I have communicated with the AG's office and the judge hearing the case through my attorney, I intend to follow up using your letter as a template.

bob, thanks for doing all of the groundwork in presenting the facts very succinctly in your letter to the deputy NYSAG, solomon. i copied most of your letter with few changes to suit my personal needs and situation. any changes were noted in my letter to solomon which will be mailed tomorrow.

i strongly urge you and others who write solomon to make note that a copy of the letter will be forwarded to governor coumo, another try at getting fair retribution from FRAUD EICHNER.

thanks again, chris

robertb1802 wrote:

While we continue to wait for any type of relief from this mess, I felt it was time to write to the NY AG to complain about the lack of progress. I addressed my most recent letter to Louis Solomon, the assistant AG, since he is the individual who actually signed the "Assurance of Discontinuance" with Eichner for the AG. The AG supposedly reached a settlement 6 months ago, ended their investigation of TMC, and NOTHING HAS HAPPENED SINCE. The text of my letter follows. Please use it any way you choose to hound the AG's office to get moving. email communications are too easy to ignore, so I recommend a snail mailed letter in addition to any emailed correspondence you send.

Bob Biello =================================================================================

February 12, 2018

Mr. Louis Solomon Assistant Attorney General New York Attorney General’s Office 120 Broadway New York, NY 10271 Re: Case # 451536/2014 Schneiderman v. Eichner Dear Mr. Solomon:

My wife and I are among the thousands of owners of timeshare interests in The Manhattan Club who have been defrauded by the improper conduct of Ian Bruce Eichner, a Manhattan real estate billionaire, members of his family, and a close circle of associates.

In July, 2014, your office began a 3 year-long investigation which discovered evidence that Eichner and his associates played a direct role in carrying out a huge timeshare scam against an estimated 14,000 to 18,000 Manhattan Club owners for at least 10 years, defrauding us out of tens of millions of dollars. My wife and I and literally thousands of other timeshare owners have suffered very significant financial losses due to the fraudulent conduct of the Eichner family, The Manhattan Club, and its related companies.

The Manhattan Club’s obligation to me as a timeshare owner was to make 7 days per year available to stay at the property. Instead of making those days reasonably available, The Manhattan Club engaged in an organized scheme to routinely tell me, and other timeshare owners who called to make reservations, that the requested days were not available, while at the same time, Manhattan Club representatives were selling the same rooms for the same dates to the general public on the Internet. Also, based on evidence gathered during your investigation, we learned that Eichner has been personally skimming $6,000,000 a year from The Manhattan Club through a shell management company called “Urban”. For years, this company had no employees and provided no services to the operation of the timeshare property, yet our timeshare corporation was paying them (Eichner) $6 million a year!

In July, 2017, your office announced that the NY Attorney General had reached a settlement with the respondents in this case, and was ending its investigation into the operation of The Manhattan Club timeshare with the signing of an “Assurance of Discontinuance. On August 14, 2017, you signed assurance no. 17-149, on behalf of the NY Attorney General, with the respondents in this case. While it is true that the settlement will result in the removal of some really “bad apples” from the NY timeshare business, it fails to address most of the allegations of wrongdoing committed against us timeshare owners by Ian Bruce Eichner and his close circle of associates.

Of course, this will only be effective if the respondents actually carry out the stipulations to which they agreed when signing the Assurance of Discontinuance. It would be helpful if we had a contact person to keep affected owners informed. Has anyone in your office been assigned specific responsibility to monitor adherence to the conditions in the assurance and carry out possible enforcement actions?

I have been closely monitoring the Internet for word that the conditions in the Assurance of Discontinuance are being properly carried out or enforced. Unfortunately, during the 6 months since your press release of August 16, 2017, in which you announced the settlement, I have not seen any evidence that the stipulations Eichner agreed to have actually been carried out.

The Assurance of Discontinuance section titled, “PROSPECTIVE RELIEF,” page 12, paragraph 62, states that, “Respondents shall enter into an agreement with the third-party operator of timeshare properties (TMC Purchaser) previously identified to the OAG on or about July 28, 2017…”

Who is this third-party operator (TMC Purchaser)? Has the required agreement been signed? If so, when? If not, what enforcement steps will the AG’s office take due to this violation of the assurance?

Paragraph 63 of the assurance states that, “All Sponsor-appointed officers and directors will resign from their positions as members of the board of the Timeshare Association…” There have been no reported resignations of any officers or directors of the Timeshare Association. What enforcement steps will the AG’s office take due to this violation of the assurance?

The Assurance of Discontinuance section titled, “RESTITUTION,” page 14, paragraph 65, itemizes a schedule of payments respondents are required to make as a condition of the assurance. Their first payment of $3,250,000 was due 15 days after the release of frozen funds. Has your office received this payment? If so, when was it received and when will these funds be distributed to timeshare owners? If not, what steps will the AG’s office take due to this violation of the assurance?

Your investigation uncovered evidence that Eichner and his cronies engaged in a massive timeshare fraud. They have demonstrated that they are not honorable people and I would not be surprised to learn that they have not carried out any of the stipulations to which they agreed when signing the Assurance of Discontinuance.

As a result of the fraudulent conduct perpetrated against us by Mr. Eichner, The Manhattan Club and its affiliates, as well as the NY Attorney General's allegations of fraud and other criminal conduct, I urge you to take whatever steps are necessary to force them to honor the conditions of the Assurance of Discontinuance and to pay the mandated restitution.

Sincerely yours,

Robert A. Biello

I certainly understand the decision of some not to pay their maintenance fees but I question how the Manhattan Club can be run and bills paid if there are a lot of owners who do not pay their maintenance fees - just where do funds come from to make up the deficits? Is that where the $6,000,000 settlement comes into play and that money is to go into the HOA fund to pay bills. But again, how have bills in the past and present been paid -I wouldn't think there are any loans that have been made to the Manhattan Club. And also, I wouldn't think the HOA has enough in collected reserves to pay all the outstanding bills if there are a large number who haven't been paying their assessments? Any thoughts?

Nicely written Bob, appreciate your proactive and thoughtful efforts to drive progress. Please share with us any response you may get. Thank you, -Tim Gordon

robertb1802 wrote:

While we continue to wait for any type of relief from this mess, I felt it was time to write to the NY AG to complain about the lack of progress. I addressed my most recent letter to Louis Solomon, the assistant AG, since he is the individual who actually signed the "Assurance of Discontinuance" with Eichner for the AG. The AG supposedly reached a settlement 6 months ago, ended their investigation of TMC, and NOTHING HAS HAPPENED SINCE. The text of my letter follows. Please use it any way you choose to hound the AG's office to get moving. email communications are too easy to ignore, so I recommend a snail mailed letter in addition to any emailed correspondence you send.

Bob Biello =================================================================================

February 12, 2018

Mr. Louis Solomon Assistant Attorney General New York Attorney General’s Office 120 Broadway New York, NY 10271 Re: Case # 451536/2014 Schneiderman v. Eichner Dear Mr. Solomon:

My wife and I are among the thousands of owners of timeshare interests in The Manhattan Club who have been defrauded by the improper conduct of Ian Bruce Eichner, a Manhattan real estate billionaire, members of his family, and a close circle of associates.

In July, 2014, your office began a 3 year-long investigation which discovered evidence that Eichner and his associates played a direct role in carrying out a huge timeshare scam against an estimated 14,000 to 18,000 Manhattan Club owners for at least 10 years, defrauding us out of tens of millions of dollars. My wife and I and literally thousands of other timeshare owners have suffered very significant financial losses due to the fraudulent conduct of the Eichner family, The Manhattan Club, and its related companies.

The Manhattan Club’s obligation to me as a timeshare owner was to make 7 days per year available to stay at the property. Instead of making those days reasonably available, The Manhattan Club engaged in an organized scheme to routinely tell me, and other timeshare owners who called to make reservations, that the requested days were not available, while at the same time, Manhattan Club representatives were selling the same rooms for the same dates to the general public on the Internet. Also, based on evidence gathered during your investigation, we learned that Eichner has been personally skimming $6,000,000 a year from The Manhattan Club through a shell management company called “Urban”. For years, this company had no employees and provided no services to the operation of the timeshare property, yet our timeshare corporation was paying them (Eichner) $6 million a year!

In July, 2017, your office announced that the NY Attorney General had reached a settlement with the respondents in this case, and was ending its investigation into the operation of The Manhattan Club timeshare with the signing of an “Assurance of Discontinuance. On August 14, 2017, you signed assurance no. 17-149, on behalf of the NY Attorney General, with the respondents in this case. While it is true that the settlement will result in the removal of some really “bad apples” from the NY timeshare business, it fails to address most of the allegations of wrongdoing committed against us timeshare owners by Ian Bruce Eichner and his close circle of associates.

Of course, this will only be effective if the respondents actually carry out the stipulations to which they agreed when signing the Assurance of Discontinuance. It would be helpful if we had a contact person to keep affected owners informed. Has anyone in your office been assigned specific responsibility to monitor adherence to the conditions in the assurance and carry out possible enforcement actions?

I have been closely monitoring the Internet for word that the conditions in the Assurance of Discontinuance are being properly carried out or enforced. Unfortunately, during the 6 months since your press release of August 16, 2017, in which you announced the settlement, I have not seen any evidence that the stipulations Eichner agreed to have actually been carried out.

The Assurance of Discontinuance section titled, “PROSPECTIVE RELIEF,” page 12, paragraph 62, states that, “Respondents shall enter into an agreement with the third-party operator of timeshare properties (TMC Purchaser) previously identified to the OAG on or about July 28, 2017…”

Who is this third-party operator (TMC Purchaser)? Has the required agreement been signed? If so, when? If not, what enforcement steps will the AG’s office take due to this violation of the assurance?

Paragraph 63 of the assurance states that, “All Sponsor-appointed officers and directors will resign from their positions as members of the board of the Timeshare Association…” There have been no reported resignations of any officers or directors of the Timeshare Association. What enforcement steps will the AG’s office take due to this violation of the assurance?

The Assurance of Discontinuance section titled, “RESTITUTION,” page 14, paragraph 65, itemizes a schedule of payments respondents are required to make as a condition of the assurance. Their first payment of $3,250,000 was due 15 days after the release of frozen funds. Has your office received this payment? If so, when was it received and when will these funds be distributed to timeshare owners? If not, what steps will the AG’s office take due to this violation of the assurance?

Your investigation uncovered evidence that Eichner and his cronies engaged in a massive timeshare fraud. They have demonstrated that they are not honorable people and I would not be surprised to learn that they have not carried out any of the stipulations to which they agreed when signing the Assurance of Discontinuance.

As a result of the fraudulent conduct perpetrated against us by Mr. Eichner, The Manhattan Club and its affiliates, as well as the NY Attorney General's allegations of fraud and other criminal conduct, I urge you to take whatever steps are necessary to force them to honor the conditions of the Assurance of Discontinuance and to pay the mandated restitution.

Sincerely yours,

Robert A. Biello

Tulipblossom please

See /READ my response yesterday! It answer most of your questions.The funds comes from the other owners. That is the $7,000,000 "Reserve for Bad Debts" in the budget for the maintenance and taxes not paid by some owners. See the Budget for 2018. All the detail is there. This is one of many expenses that are recouped through maintenance fees. I have copied you message below and include answer therin

"I certainly understand the decision of some not to pay their maintenance fees but I question how the Manhattan Club can be run and bills paid if there are a lot of owners who do not pay their maintenance fees –Approx 2800 units - just where do funds come from to make up the deficits ?--It is the $7,000,000 Bad Debt reserve in the budget--- Is that where the $6,000,000 settlement comes into play - NO - and that money is to go into the HOA fund to pay bills. But again, how have bills in the past and present been paid –From the collected Maintenance fees - wouldn't think there are any loans that have been made to the Manhattan Club. And also, I wouldn't think the HOA has enough in collected reserves to pay all the outstanding bills if there are a large number who haven't been paying their assessments? “

My estimate is that an extra $500+ is amount each paying average unit owner is being charged to cover the shortfall caused by non paying members.

John Email me at Contini.John@gmail.com if you have questions or further explanation

When the property is sold, the $7,000,000 in delinquent maintenance fee payments will be considered an asset. Does anyone think the new owners , whomever they may be, will just write off the $7,000,000 as uncollectable?

Perhaps there will be an accommodation for those who can PROVE they were unable to use their time. (That doesn't mean waiting until the last minute to try and book.) How can that be proven?

Again, who believes the new owners will forgive $7,000,000, or part thereof. I don't. Who agrees/disagrees with me?

johnc300 wrote:

Hi

An estimate of the number of weekly unit equivalents not paying maintenance fee can be estimates as per below:

Reserve for Bad Debt per Schedule B of 2018 $7,000,000 (it has grown from $2 million a few years ago)

Weighted average of 1 week maintenance fee = $2,500 per equivalent weekly unit

Therefore number not paying = $7,000,000 / $2,500 = 2800 apprx. not people but units remember we have 1/2 weeks, alternated year owners etc.

Weighted average Number of Full Weeks 15392 per budget Estimated leaving 2800

Remaining weeks 12592 Lost Rev $7,000,000 Increased Cost per weekly equivalent unit $554.48 rough estimate say round to $500

Not chump change as it used to be 3-5 years ago

John

johnc300 wrote:

Tulipblossom please

See /READ my response yesterday! It answer most of your questions.The funds comes from the other owners. That is the $7,000,000 "Reserve for Bad Debts" in the budget for the maintenance and taxes not paid by some owners. See the Budget for 2018. All the detail is there. This is one of many expenses that are recouped through maintenance fees. I have copied you message below and include answer therin

"I certainly understand the decision of some not to pay their maintenance fees but I question how the Manhattan Club can be run and bills paid if there are a lot of owners who do not pay their maintenance fees –Approx 2800 units - just where do funds come from to make up the deficits ?--It is the $7,000,000 Bad Debt reserve in the budget--- Is that where the $6,000,000 settlement comes into play - NO - and that money is to go into the HOA fund to pay bills. But again, how have bills in the past and present been paid –From the collected Maintenance fees - wouldn't think there are any loans that have been made to the Manhattan Club. And also, I wouldn't think the HOA has enough in collected reserves to pay all the outstanding bills if there are a large number who haven't been paying their assessments? “

My estimate is that an extra $500+ is amount each paying average unit owner is being charged to cover the shortfall caused by non paying members.

John Email me at Contini.John@gmail.com if you have questions or further explanation

This is assuming that the maintenance fees are actually going toward maintenance and not the TMC's pockets. Seems like a big assumption to me.

I disagree and you should go ahead and pay your fees if you want to and stop trying to push your opinion on others. You really have absolutely no idea or proof of what will happen when the time comes to deal with the new owners so everything you've written is pure speculation.

Thank you Robert, for providing more in depth information on the settlement terms. I already followed the example of your letter and wrote to the Assistant AG of NY to inquire about whether Eichner and his associates complied with the conditions of the Assurance of Discontinuance, and if there is assurance that the new management will behave responsibly to timeshare owners. I encourage more owners to write to the NY Assistant AG's office. Hopefully, we will get some response.

Vivien Soo

Thomasm832 as I suggested email me if you have question or comments. Assume whatever you want. If you have other facts I'd be more than happy to discuss with you but NOT on this site.

vivian,

i copied (with few changes to suit my needs and situation) bob's excellent letter which probably took him a lengthy amount of time to research and put together.................BIG BRAVO AND MUCHO THANKS TO HIM!!. i sent my letter to mr solomon, deputy atty general, and sent a copy to mr schneiderman's superior, governor cuomo , with a special letter to him as an attachment.

WE SHOULD ALL FOLLOW BOB'S LEAD AND PROACTIVITY. SEND LETTERS TO MR. SOLOMON AND GOVERNOR CUOMO EVEN IF YOU'RE NOT A NEW YORKER (WHICH I HAPPEN TO BE). THIS SO-CALLED SETTLEMENT AND/OR VICTORY WON BY MR SCHNEIDERMAN SHOULD BE IN ALL MANHATTAN CLUB OWNERS' FAVOR. WE ALL, NEW YORKERS OR NOT, ARE PAYING REAL ESTATE TAXES ON THE WEEKS WE OWN; THEREFORE WE SHOULD ALL BENEFIT SUBSTANTIALLY FROM THE SETTLEMENT.

ALL, PLEASE WRITE TO SOLOMON AND CUOMO NOW. ASK FOR ACKNOWLEDGEMENT OF EACH ADDRESSEE'S RECEIPT OF YOUR LETTER WITH A REQUEST FOR A RESPONSE TO THE CONTENTS OF YOUR LETTER/COMMENTS.

THANKS AGAIN, BOB FOR ALL YOUR WORK AND COMPOSING SUCH AN ALL-ENCOMPASSING AND COMPREHENSIVE LETTER.....ONE WE SHOULD ALL COPY AND SEND IN WHOLE OR PART TO SOLOMON AND CUOMO.

viviens2 wrote:

Thank you Robert, for providing more in depth information on the settlement terms. I already followed the example of your letter and wrote to the Assistant AG of NY to inquire about whether Eichner and his associates complied with the conditions of the Assurance of Discontinuance, and if there is assurance that the new management will behave responsibly to timeshare owners. I encourage more owners to write to the NY Assistant AG's office. Hopefully, we will get some response.

Vivien Soo

Robert, Thank you for staying on top of this and providing the information on who to write to. My letter will be different but I will contribute to keeping TMC in the forefront.

I purchased my unit in 1998 when the maintenance fee was $550/yr. I have always paid the increasing annual fees and booked at least 9 months in advance as was suggested. The settlement will be of no benefit to me because there was only one time I couldn't get my dates or even close to them so I banked the unit with RCI. My complaints were the increases in the maintenance fee, and being told at the time of purchase that I could sell it back to them. The settlement doesn't compensate for either of these situations.

It really has become cost prohibitive for many which is why I have been trying to get rid of it. In 2013 I called TMC and Lynn O'Donnell told me they were NOT buying back at the time and I should try to sell it on my own. That is when I started sending good money after bad trying to be relieved of the financial burden. Obviously I still own it and as much as I have enjoyed the city, I don''t want to scrape together one more cent for it. Then last year because the hearings kept getting rescheduled I bit the bullet and spent more money to enter into a contract with attorneys who specialize in time share exit. The cost was comparable to about 2 years worth of maintenance fees at the current rate but at least I would be out. I recently received a letter from the attorneys that they found someone who will take it off my hands but I have to pay the next maintenance fee now which isn't due until July. So I contacted TMC again last week and was told they will ALWAYS take units back at no charge to the owner (Not the same story I got from the same person in 2013) but that their hands were currently tied because of the investigation.. I reminded her there was a settlement and was told she would put me on a "list" and call me when she got the go ahead. Still playing games! The reason I am posting all this is because I suspect there are many more with stories similar to mine and we are never going to recoup even close to what we invested. My consolation is that I did have a lot of fun in NYC with friends and family and would not have gone if I hadn't owned the time share.

If we have some 14,000 units oversold in the Manhattan Club a large excess of owners funds have been collected over the years and never likely used for Maintenace as we see now in the investigation. This is fraud!!! Those that paid maintenance likely were able to get use over the past years.Great for you - likely you had your connections with certain staff or were more aggressive and pushed harder than the rest of us to secure your date. Leaving the rest of us out in the cold and being affected by the fraud. In turn those who paid are the owners that are likely going to get a refund anyway from the AG office. Those that consistently did not get use likely stopped paying into the fraudulent scheme investment. Who in there right mind if you are among the 14,000 oversold units would continue to pay into a fraudulent bad investment. They really need to figure out the oversold units and handle us. The circumstance is somewhat going to even itself out. If you didn't pay maintenance you can't use your unit leaving room only for those that paid. But we too paid a large some to purchase our unit and those that are paying are affecting the rest of us in the oversold category not getting use.

sharonv68 wrote:

If we have some 14,000 units oversold in the Manhattan Club a large excess of owners funds have been collected over the years and never likely used for Maintenace as we see now in the investigation. This is fraud!!! Those that paid maintenance likely were able to get use over the past years.Great for you - likely you had your connections with certain staff or were more aggressive and pushed harder than the rest of us to secure your date. Leaving the rest of us out in the cold and being affected by the fraud. In turn those who paid are the owners that are likely going to get a refund anyway from the AG office. Those that consistently did not get use likely stopped paying into the fraudulent scheme investment. Who in there right mind if you are among the 14,000 oversold units would continue to pay into a fraudulent bad investment. They really need to figure out the oversold units and handle us. The circumstance is somewhat going to even itself out. If you didn't pay maintenance you can't use your unit leaving room only for those that paid. But we too paid a large some to purchase our unit and those that are paying are affecting the rest of us in the oversold category not getting use.

Comments such as those that paid the maintenance fee had " connections with certain staff" or "more aggressive and pushed harder than the rest of us to secure their dates" are inaccurate and frankly insulting. Owners that were able to use their unit more than likely were able to schedule their dates a year or so in advance. I seriously doubt that any owners had any kind of "connection" with reservation agents at the Manhattan Club. "Every owner" has been affected by this matter not just those that were not able to secure reservations. Higher maintenance fees each year that were charged and paid by owners is one example of how "everyone" was affected. Implying that owners that have paid their maintenance fee somehow are partially to blame and are affecting the outcome of this issue is unfair and ill-informed.

I guess it is ok to speculate and "push your opinion on others" if YOU agree, but not if YOU disagree.

I don't think it is mere speculation that a buyer would not kiss $7,000,000 goodbye and then take back purchased weeks out of the goodness of his heart.

Perhaps you are correct and I am wrong. Perhaps the new owner will offer a good deal. You probably don't mind that speculation.

Yes I will continue to pay and continue to use my time as will most others who have overpaid and will continue to overpay. You may think I am foolish, and you are entitled to express that opinion--even if I disagree with it.

beckyf76 wrote:

I disagree and you should go ahead and pay your fees if you want to and stop trying to push your opinion on others. You really have absolutely no idea or proof of what will happen when the time comes to deal with the new owners so everything you've written is pure speculation.

Thank you Kevin, for saying this and I agree. I pay my fees and I make my reservations 9-10 months in advance. I don't have any special connections with the staff and I am not more aggressive. I call up, make my payment over the phone and at the same time secure the reservation. Period! I understand your anger and frustration, Sharon, because I inherited 2 time shares, gave one back, haven't seen the papers or $100 they promised and am waiting for an outcome like everyone else. In the meantime, I pay the fees and enjoy the club and NYC once a year. Like I and others have stated, bad things happen to good people. One can choose how to react, whether becoming a victim and lashing out at others or making the best of it however one can. Look around the world, this is hardly the worst thing that can happen to someone, as I see and as I personally know.

kevin631 wrote:

sharonv68 wrote:

If we have some 14,000 units oversold in the Manhattan Club a large excess of owners funds have been collected over the years and never likely used for Maintenace as we see now in the investigation. This is fraud!!! Those that paid maintenance likely were able to get use over the past years.Great for you - likely you had your connections with certain staff or were more aggressive and pushed harder than the rest of us to secure your date. Leaving the rest of us out in the cold and being affected by the fraud. In turn those who paid are the owners that are likely going to get a refund anyway from the AG office. Those that consistently did not get use likely stopped paying into the fraudulent scheme investment. Who in there right mind if you are among the 14,000 oversold units would continue to pay into a fraudulent bad investment. They really need to figure out the oversold units and handle us. The circumstance is somewhat going to even itself out. If you didn't pay maintenance you can't use your unit leaving room only for those that paid. But we too paid a large some to purchase our unit and those that are paying are affecting the rest of us in the oversold category not getting use.

Comments such as those that paid the maintenance fee had " connections with certain staff" or "more aggressive and pushed harder than the rest of us to secure their dates" are inaccurate and frankly insulting. Owners that were able to use their unit more than likely were able to schedule their dates a year or so in advance. I seriously doubt that any owners had any kind of "connection" with reservation agents at the Manhattan Club. "Every owner" has been affected by this matter not just those that were not able to secure reservations. Higher maintenance fees each year that were charged and paid by owners is one example of how "everyone" was affected. Implying that owners that have paid their maintenance fee somehow are partially to blame and are affecting the outcome of this issue is unfair and ill-informed.

Amen Deborah, Amen

deborahs528 wrote:

Thank you Kevin, for saying this and I agree. I pay my fees and I make my reservations 9-10 months in advance. I don't have any special connections with the staff and I am not more aggressive. I call up, make my payment over the phone and at the same time secure the reservation. Period! I understand your anger and frustration, Sharon, because I inherited 2 time shares, gave one back, haven't seen the papers or $100 they promised and am waiting for an outcome like everyone else. In the meantime, I pay the fees and enjoy the club and NYC once a year. Like I and others have stated, bad things happen to good people. One can choose how to react, whether becoming a victim and lashing out at others or making the best of it however one can. Look around the world, this is hardly the worst thing that can happen to someone, as I see and as I personally know.

kevin631 wrote:

sharonv68 wrote:

If we have some 14,000 units oversold in the Manhattan Club a large excess of owners funds have been collected over the years and never likely used for Maintenace as we see now in the investigation. This is fraud!!! Those that paid maintenance likely were able to get use over the past years.Great for you - likely you had your connections with certain staff or were more aggressive and pushed harder than the rest of us to secure your date. Leaving the rest of us out in the cold and being affected by the fraud. In turn those who paid are the owners that are likely going to get a refund anyway from the AG office. Those that consistently did not get use likely stopped paying into the fraudulent scheme investment. Who in there right mind if you are among the 14,000 oversold units would continue to pay into a fraudulent bad investment. They really need to figure out the oversold units and handle us. The circumstance is somewhat going to even itself out. If you didn't pay maintenance you can't use your unit leaving room only for those that paid. But we too paid a large some to purchase our unit and those that are paying are affecting the rest of us in the oversold category not getting use.

Comments such as those that paid the maintenance fee had " connections with certain staff" or "more aggressive and pushed harder than the rest of us to secure their dates" are inaccurate and frankly insulting. Owners that were able to use their unit more than likely were able to schedule their dates a year or so in advance. I seriously doubt that any owners had any kind of "connection" with reservation agents at the Manhattan Club. "Every owner" has been affected by this matter not just those that were not able to secure reservations. Higher maintenance fees each year that were charged and paid by owners is one example of how "everyone" was affected. Implying that owners that have paid their maintenance fee somehow are partially to blame and are affecting the outcome of this issue is unfair and ill-informed.

I purchased my unit in 1997 and have had a couple of years when I was unable to use it (no availability) so transferred to RCI and did exchanges at resorts that were hardly as nice and had extra charges, and I had to fly there which was additional cost. As of late, I have not had issues getting time at TMCNY and resent anyone saying I must connections or was forceful. Not the case at all. The increased maintenance are causing me some pain financially. I do not expect that I will ever sell my unit as with all the bad publicity I am not sure who would buy it with maintenance fees of over $2000 for the smallest unit. While I can afford to, I will continue to pay my maintenance and spend a week in NY. I love it there, as although I live in the DC area, NY will always be my home.

Marjorie

williamm465 wrote:

Amen Deborah, Amen

deborahs528 wrote:

Thank you Kevin, for saying this and I agree. I pay my fees and I make my reservations 9-10 months in advance. I don't have any special connections with the staff and I am not more aggressive. I call up, make my payment over the phone and at the same time secure the reservation. Period! I understand your anger and frustration, Sharon, because I inherited 2 time shares, gave one back, haven't seen the papers or $100 they promised and am waiting for an outcome like everyone else. In the meantime, I pay the fees and enjoy the club and NYC once a year. Like I and others have stated, bad things happen to good people. One can choose how to react, whether becoming a victim and lashing out at others or making the best of it however one can. Look around the world, this is hardly the worst thing that can happen to someone, as I see and as I personally know.

kevin631 wrote:

sharonv68 wrote:

If we have some 14,000 units oversold in the Manhattan Club a large excess of owners funds have been collected over the years and never likely used for Maintenace as we see now in the investigation. This is fraud!!! Those that paid maintenance likely were able to get use over the past years.Great for you - likely you had your connections with certain staff or were more aggressive and pushed harder than the rest of us to secure your date. Leaving the rest of us out in the cold and being affected by the fraud. In turn those who paid are the owners that are likely going to get a refund anyway from the AG office. Those that consistently did not get use likely stopped paying into the fraudulent scheme investment. Who in there right mind if you are among the 14,000 oversold units would continue to pay into a fraudulent bad investment. They really need to figure out the oversold units and handle us. The circumstance is somewhat going to even itself out. If you didn't pay maintenance you can't use your unit leaving room only for those that paid. But we too paid a large some to purchase our unit and those that are paying are affecting the rest of us in the oversold category not getting use.

Comments such as those that paid the maintenance fee had " connections with certain staff" or "more aggressive and pushed harder than the rest of us to secure their dates" are inaccurate and frankly insulting. Owners that were able to use their unit more than likely were able to schedule their dates a year or so in advance. I seriously doubt that any owners had any kind of "connection" with reservation agents at the Manhattan Club. "Every owner" has been affected by this matter not just those that were not able to secure reservations. Higher maintenance fees each year that were charged and paid by owners is one example of how "everyone" was affected. Implying that owners that have paid their maintenance fee somehow are partially to blame and are affecting the outcome of this issue is unfair and ill-informed.