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Velas Vallarta Puerto Vallarta Property / Fradulaent investment

1 Mexico Review updated:

I purchased what i thought was an investment property in velas vallarta puerto vallarta, mexico last year. The pitch was sold for investment and they knew it from the start of the sale. Everything promised has not come true. I turned the situation into profeco in mexico in january of this year explaining the situation that i was ripped off and i have not made any money from the investment and when i spoke to the salesman he informed me that he did the pitch he was suppose to according to the managment of the resort and profeco states that if it is all in writing they will take action but these people do not put everything in writing when they are selling it and many of the things promised were not true as i found out later and i spent almost $60,000 for a delux villa suite or 3 bedroom unit which was to generate x dollars of income over the life of the program and this is totally been a lie and they want close to $1100 a year fees for maintenance which was ok when the return on investment would be well above that according to them. I wrote a letter to the resort mr. Johnny noe who is in charge and a man named ramon who was the manager and i believe still is. I have requested cancellation because of fradulent material and lies and i have not heard anything as to what the results were by the resort or profeco in mexico city. I need to have action against this resort before time elapses much monger and no one is doing anything. When the property was purchased it was investment only as i stated to the salesman allan. I would like this put out on timeshare scams websites so other people are not sucked in to these traps particularly this resort which is known in the area of puerto vallarta as ripping consumers off. Any help in getting this out there would be appreciated and if you have any avenues for me i would appreciate it very much.

Va
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Comments

Ly
  19th of Dec, 2006
0 Votes

Looking for anyone who has gotten there money back when they canceled after the 5 day graced period. Also anyone who was told that there current timeshare that they owned was being "traded in" or purchased. Any one who knows Ken Waller or heard of resales and rentals.

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