ED Magedson – Founder
Coco Bay EstatesNationwide Costa Rica
Coco Bay Estates The Residence Club at Coco Bay Estates, Vista Ocotal Residence Club, Coco Sunset, Terramar, Bahia Turquesa, Las Palmas Travel Network, The Luxury Leisure Alliance Timeshare Scam Costa Rica Playas Del Coco Nationwide
I went on the sales presentation at Coco Bay Estates with my son, after being promised free wifi for the duration of my stay. It turns out we didn't even have wifi in our room, that should have been the only red flag I needed, but it wasn't. I was told during the sales presentation that I was being offered partial/fractional ownership in the resort (5 weeks) which I thought, was something I would love to be a part of considering they told me I could stay in places like the Four Seasons and Ritz Carlton for a fraction of the price $450 a week. I know it sounds absurd now, but the salesman was so nice and seemed so sincere, I trusted him. They told me that they would sell my timeshare, that I had been completely unhappy with for many years, they gave me what they called a earnst money or good will deposit up front with the remainder of the money to be paid at a later date. Also, they promised that they would provide a contract to give me for the next 5 years $2,600 for any of the 5 weeks that I didn't use. It also came with an annuity from a reputable company called Amerashare with a 6% transfer cost that would get me the full price of the purchase back in 25 years. Me thinking it would help me with some estate planning for my son. This sounded like a no brainer, my lucky day to encounter these nice people who were going to help to rid me of my burden and help me put some money in my pocket to help with my son since I am a single mother, my knights and shining armours. Wrong..........
Unfortunately not true, none of it was true. There is no Sale of my timeshare and no $2,600 and no Four Seasons for $450 a night let alone for the whole week. The annuity when I looked up the direction in Hong Kong is a fake company, just a mail drop. No Amerashare or any other company there. The access to the website is all you get and the prices are no better than you could do on your own. No Ritz Carltons or anything higher end than a 3 star resort. I lost a great deal of money I couldn't afford to lose. The people at Coco Bay Estates should be ashamed of themselves for shattering peoples lives. And when I contacted them they wouldn't return my money stating I signed the contract and that's that. I hope my credit card company will rule in my favor since I contested the charges. They are all in on the scam and the owners of Coco Bay Estates are from the United States and my lawyers tell me they own property. There names are Jim and Gina Correll and Jullian and Karen Rembert. I plan on holding them accountable for this fraud perpetrated by these animals. Please contact me to start a class action lawsuit so we can seize the property and homes in the United States of these fraudsters.
This report was posted on Ripoff Report on 04/28/2014 04:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Coco-Bay-Estates/nationwide/Coco-Bay-Estates-The-Residence-Club-at-Coco-Bay-Estates-Vista-Ocotal-Residence-Club-Coc-1142460. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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