Anyone heard of Helios Commodity purchasing timeshares?

I was approaches as an owner at Marina Fieesta in Cabo. Anyone else?

Why did they contact you ? If they claim they are making an offer to buy your timeshare and they want money from you for some " fee " then it's a 'SCAM !! The first time they ask for money from you .......... it's a SCAM !!!

not asking for money. That's what threw me. They made an offer and said they would open a trust to hold the money in escrow at their expense. I'm tempted to take it to the point they DO ask for money, just so I can see where the scam turns

They will lead you on until the very end and then once they set the hook they will inform you that there is a " fee " of some sort that has to be paid in advance . Once they ask for one penny it's a SCAM !!! They are very good at what they do . They dangle the carrot in front of you just before they come up with their " fee " . Don't fall for their SCAM .

mikem208 wrote:

not asking for money. That's what threw me. They made an offer and said they would open a trust to hold the money in escrow at their expense. I'm tempted to take it to the point they DO ask for money, just so I can see where the scam turns

How did they approach you? And what was the offer? Was it for far more than what your unit is worth? Did you even have it advertised for sale?

Don P explained quite simply how the scam works. They will get you all excited at the prospect of thousands of dollars for the sale of your unit. Then when you're all excited and ready to do ANYTHING to make this sale happen, they will tell you that there is a fee or tax that must be paid in order to complete the sale.

Michael, you said they haven't asked for money - but - they will open a trust to hold the money in escrow. They WILL ask for money. And it will go to a Mexican bank account. And it will be gone. If you were selling your house in the U.S., would you expect to pay anything before closing? NO. All expenses would be covered from the sale price. You would get a Net check, after expenses. These creeps want you to put money upfront. Not in your best interests. As mentioned, this is a common scam. Don't fall for it.

So, does anyone know a legit company? Is redweek the only place?

mikem208 wrote:

So, does anyone know a legit company? Is redweek the only place?

Are you asking for a legitimate company to sell timeshares or to list them?

RedWeek is not the only reputable listing website. You can also use E-bay, My Resort Network, Craigslist, or Timeshare Users Group (aka "TUG"). These are low-cost listing sites. Keep in mind that most units in Mexico are worth zero dollars. Try to make sure of what your unit is realistically worth on the resale market.

If you are looking for a legitimate seller, you can try LTRBA. Keep in mind that they charge a minimum $1000 commission and your unit might not even be worth that.

lancec13 wrote:

If you are looking for a legitimate seller, you can try LTRBA. Keep in mind that they charge a minimum $1000 commission and your unit might not even be worth that.

I am not sure that LTRBA would actually touch this matter at all, commission amount aside. The "product" is evidently in Mexico and, accordingly, if it's a "RTU contract" (which I assume it is, as opposed to being a deeded ownership), I'm betting that LTRBA would likely not want to get involved. The LTRBA folks are licensed U.S. realtors and licensed U.S. realtors need not get involved in Mexican RTU contract transfers (...and probably don't want to be).

Can't hurt to ask though...

We have been approached and did as Michael did all the way up until they asked for money $1830 to be exact - for temporary nationality application and TAX ID for Mexico and real estate transaction to sell our time share offering more than 5x what we paid for it and only requiring $918 in commission fess (to be paid by us) and saying they already have a buyer and claiming all other fees (taxes reimbursement for $1830 etc) paid by the buyer even put money in 'irrevocable foreign bank account'" called the bank and we do not have the authority to withdrawal from the account nor pay fees from the account that there is a third party on the account...(I asked to pay the fees from escrow as is normal process in US ) We did not send the wire requested but was difficult to find any reports or information on the company(s) Helio's and Valley Equity when doing some due diligence.

#1 of 4 Just in the last month or two, someone from Maine contacted me about Real Destination & Vacations, 6675 Westwood Blvd, Orlando. They found a buyer for them after they listed with Timesharebyowner. The scammers sent two Fedx trucks to their house, picking up a processing fee of $1,848 and a second truck to pick up a luxury tax check for $1,590, then ghosted the family. I spoke with Orlando police, but to go after them the victim would have to come to Orlando. Paying by credit card would have allowed the family to dispute. Never wire money.

#2 A family listed their Orange Lake timeshare with SMTN. Then they received a call three weeks later from someone claiming to be a paralegal saying they found a buyer and an attorney would call. A bogus attorney called with the information. They wired money to Hong Kong, the documents impressively done "Proof of Funds" in escrow. Three buyers on the contract from the Dominican Republic. Then someone called impersonating a federal agent saying their account had been flagged, ended up threatening to arrest them. Then someone called saying they were from Ron Jon Timeshare, "We know seniors are forgetful. We wanted you to know we accepted the contract." I ended up speaking to a Secret Service agent who helped them with the threatening phone calls. He told them they were lucky they only lost $4000. The victim a 100% disabled Agent Orange Army veteran.

#3 A Canadian banker reached out to me last week. A bank client came in to wire money to a name I recognized. It was an LTRBA member. They stole her name. The BBB report listed the fake company, her as the owner. We're tracking down to see if they actually have her name on fake documents.

#4 Someone was going to pay an exit company $6999 which included $1999 finance charge to get out of a Mexico timeshare. They had spent $10,000 since 2014 to get out of the timeshare. I made one phone call. It took 10 minutes. The resort emailed docs to notarize the next day. The owner was Canadian.

They are all scams. Maybe not #4, the exit company, but many solutions happen with a couple phone calls, avoiding paying exit companies that include millions for TV ads. Order the book Not Today Buster and follow their advice. It's a Special Project of the OAG Florida. I work with a network of volunteers throughout the US and Canada encouraging people to work with their timeshare company. If they refuse, regulatory complaints if necessary, media outreach.

I've been dealing with Helios Commodities for over a year. They keep having what seem to be legit legal fees (temporary Mexican citizenship, tax ID). Then when the bank was supposed to pay me they suspected money laundering and asked for a bond. Both the bank and Helios promised, in writing, to repay the bond. When the bank tried to wire the money to me, they made a mistake in the account number and did not claim responsibility for it. So, off to another bank. Again the bond for money laundering and a promise to pay it back. While everything is backed with what appears to be legitimate legal paper, my red flags are up. Anyone dealt with this company? What was your experience?

melindaw124 wrote:

my red flags are up. Anyone dealt with this company?

Then keep your red flags up.

And you asked if "Anyone dealt with this company?" Probably and probably got scammed.

Scam! It’s not legit

See my post from last year it is a scam

This is organized crime, especially in Mexico. Earl, a retired, 100% disabled Canadian police officer, lost $50,000 to a Mexico timeshare and $57,000 to someone who said they had a buyer for their timeshare. A 100% disabled Vietnam Vet wired $4,000 to Hong Kong over 3 or 4 transactions. Both had recently posted an ad on SellMyTimeshareNow. For the later. I contacted the Secret Service when the person impersonating a federal agent threatened to come to their home and arrest them for wire fraud when they did not rewire the money. In both cases the documents were impeccable. The interview linked below is with Earl, his wife and service dog Raven, and the Second Link, an interview with timeshare resale broker John Kushman, who has amassed a remarkable data base of over 100 "we have a buyer" scams and this doesn't include shady exit companies that promise a money-back guarantee but don't honor it: Crimeshare with Earl: https://tarda.org/f/crimeshare-%E2%80%93-a-sophisticated-timeshare-resale-scam Timeshare Specialist scam database: Wire Transfer Fraud https://tarda.org/f/timeshare-specialists%E2%80%99-timeshare-exit-scam-hotline

Hi Melinda, I have had the exact same thing happen to me and now supposedly the old buyer backed out and Helios had to substitute a new buyer and now wants $19,000 to proceed. The new # they are using is 52 998 144 9239. I am looking for others that have been scammed that are interested with starting a class action against them. Regards, Keith

keithr260 wrote:

I have had the exact same thing happen to me and now supposedly the old buyer backed out and Helios had to substitute a new buyer and now wants $19,000 to proceed. The new # they are using is 52 998 144 9239. I am looking for others that have been scammed that are interested with starting a class action against them.

There were never any buyers. Any and all contrived "taxes or fees" are completely bogus. Sorry, but you've been "had".

Good luck with a "class action" in Mexico, where the "law" is really more of a concept than a functional reality. Additionally, these scammers surely cannot even be found or identified, never mind "sued". Hope springs eternal, as the saying goes, but it's just a delusional pipe dream to believe that there would ever actually be a "class action" to join. These thieves have probably disappeared back into the ether by now, but they (or others just like them) will reappear at some point in the future with a "new name, same game". This scam has repeatedly been run in Mexico for a very long time --- and will likely continue unabated, beyond the reach of any legal recourse avenues that exist here in the U.S.

We would join