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Report: #1341304

Complaint Review: Diamond Resorts - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Irene Parker — Venice Florida USA
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  • Diamond Resorts Nationwide USA

Diamond Resorts Apollo Global Management Local Florida TV Interview: "The Timeshare Trap" Diamond Resorts Las Vegas Nationwide

*Author of original report: Diamond Resorts Regulatory & Legal Actions

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We became Diamond resort owners after Diamond Resort purchased our ILX Arizona timeshare resort. Fees increased to the extent a law firm advertised. soliciting owners because there were so many foreclousres after the acquisition. As former (as of 12/31) Palmer told investors, "We add 15% onto all annual budget items which is a 100% profit for investors." In addition, fifiteen insiders made over $600 million on the Apollo Global Management buyout of Diamond. The founder of Apollo founded Apollo after the prior company he founded filed for bankruptcy due to the junk bond scandal. That company was Drexel Burnham Lambert.

Meanwhile, as an example, our local TV station interviewed Ralph Marble, diagnosed with a medical condition just after purchasing a Diamond vacation package. Over a period of eight years, which he could not travel, he was denied a voluntary surrender until the reporter contacted Diamond. His maintenance fees rose from $200 to $684. You can view the interview by searching Inside Timeshare. I have written articles for them because public awareness is the only way to change the deceptive business practices. 

It's not just Diamond. A just awarded a Wyndham former sales agent Whistle Blower $20 million November 17 due to deceptive practices that she refused to engage in. Other Wyndham Whistle Blowers settled but she hung on. I have a recently published an article on Inside Timeshare interviewing two former Diamond sales agent. They worked for Diamond, but their case is against Hyatt. They worked at Hyatt as well. 

The Florida timeshare division only acted on 110 out of 2,360 timeshare complaints from April 2012 to April 2014. Thanks to the timeshare lobby organization ARDA, lawmakers passed laws in Florida that went into effect July 2015 making it more difficult for timeshare owners to be released from contracts.

The best chance for change is to file a complaint with IC3.gov and the Consumer Financial Protection Bureau currently investigating Westgate. This is the organization that helped Wells Fargo victims but hurry because the organization is expectd to be weakened or dismantled post US presidential election.

I am working with 25 individuals and advocates working towards timeshare reform. Public awareness is the only tool. You can find my articles about Diamond on Inside Timeshare or other articles by searching Irene Parker The Street or Timeshare Insights. My husband and I owned three fixed week timeshares for over 25 years without posting a question or complaint until Diamond purchased our resort. Eight of the individuals I interact with are attorneys. One is an attorney and a Diamond owner. One of the lawyers is preparing a class action lawsuit against Diamond. I can be reacched through Inside Timeshare if you would like more information. I cannot join a class action because Diamond offered us our money back. I refused because that would require a non-disclosure agreement. 

Diamond is accepting voluntary surrenders as more pressure is put on them to do so. If you have a loan, you need an attorney. The attorney can get you released from the loan, but there will be a foreclosure or, less damaging, a "settled for less". DO NOT USE A TRANSFER OR LISTING AGENT. Diamond knows most owners are financially distressed and don't have time for a costly law suit that could result in the loser paying legal fees. They have an army of lawyers.  As timeshare attorney Mike Finn of Finn Law Group says, "The oral representation clause is a license to lie." He has 500 timeshare complaints with 20 to 25% against Diamond.

I became involved after surveying the Licensed Timeshare Resale Broker Association, prior to being interviewed as Diamond victims for the FOX show (currently not aired due to election coverage) Property Man. My article on Inside Timeshare "The Peasant of Venice and the Queen of Versailles" explains my evolution from timeshare mouse to outspoken critic. The Queen and her husband own Westgate and are building their 90,000 square foot home in Orlando with 30 bathrooms and a 4000 foot closet for the Queen.

Diamond owners can join a Facebook page which is kind of like a support group at Facebook/Groups/DiamondResortsMembers. It's not the company sponsored censored Facebook. DRIP has been helpful, especially to EU members as the site was started by over 1000 British trying to be released from Diamond contracts. 

It's very sad as the timeshare industry targets the elderly to sign a same day "impluse" buy contract that is perpetual. Lawmakers and regulators have done little so IC3.gov may help if enough complaints are filed. 

 

 

 

 

 

This report was posted on Ripoff Report on 12/04/2016 09:19 AM and is a permanent record located here: https://www.ripoffreport.com/reports/diamond-resorts/nationwide/diamond-resorts-apollo-global-management-local-florida-tv-interview-the-timeshare-trap-1341304. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Author of original report

Diamond Resorts Regulatory & Legal Actions

AUTHOR: - ()

POSTED: Tuesday, February 28, 2017

Diamond Resorts International has settled with the Arizona Attorney General for $800000 and has been issued an Assurance of Discontinuance. The 37 page Assurance of Discontinuance can be found by searching Inside Timeshare or the Arizona Attorney General's office. Inside Timeshare is planning to post an article this week of February 27 about the Arizona Settlement and AOD. Anyone who purchased a Diamond product in AZ beginning 2009 or AZ residents who purchased a DRI product at any sales center is eligible.

In addition, the law firm of Albright Stoddard Warnick & Albright, one of the oldest law firms in Nevada, has filed a billion dollar lawsuit against the company. Anyone 60 years or older at the time of signing a contract in the US Collection is eligible, but check the lawsuit complaint for statute of limitation. The 55 page complaint can be found linked in our article:

http://insidetimeshare.com/billion-law-suit-diamond-resorts-international

An owner sponsored Facebook page has been launched to give updates on the progress and resolutions concerning legal and legislative actions.

www.Facebook.com/groups/diamondresortsownersadvocacy

I am a Diamond owner and a former stockbroker concerned with Apollo's history as founder of Drexel Burnham Lambert of junk bond fame. I retired to a second career writing court reports and attending hearings and trials on behalf of foster children for CASA. I have been assisting owners on a volunteer effort reaching out to those who feel they have been deceived or are struggling under the weight of rising maintenance fees and Diamond loans financed at 12 to 18.9%. 

 

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