• Report: #887692
Complaint Review:

VO Financial

  • Submitted: Thu, May 24, 2012
  • Updated: Wed, May 20, 2015

  • Reported By: Concerned Citizen — MT Jullien Tennessee United States of America
VO Financial
2900 Fire Rd suite 101 Egg Harbor Township, New Jersey United States of America

VO Financial VO Group  VO Financial Scam  All Top Officers Arrested by FBI for Fraud Egg Harbor Township, New Jersey


*General Comment: VO group and VO financial ARE the same

*UPDATE Employee: Free Service

*General Comment: this is normal business in america

*UPDATE Employee: Competition Breeds Desperation

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VO Financial is a Scam Run by People who Have Been Arrested for Fraud and are currently being prosecuted by the FBI.All of the top financial officers of VO Financial have been arrested for fraud.  They were doing business as VO Group (Vacation Ownership Group).  When all the top officers were arrested and news hit the internet, they just changed their name to VO Financial and are continuing to do the same exact illegal fraud that they were doing under the old name.  (See news article below) You are just not supposed to notice the similarity in name and the fact that they are working from the exact same addresses that VO Group used with the same exact people and using the same exact fraudulent tactics. (Notice below that the address of both businesses are the same.   Do not give them any money.  

 I have alerted U.S. Attorney Paul J. Fishman who is the lead prosecutor in the case against VO Group about the most recent attempt to fool the public.Most of the people who work for VO Financial are former timeshare salesmen for Wyndham. They were trained by Wyndham to use fraudulent sales practices.   They use the same exact fraudulent sales practices that Wyndham uses and that they berate Wyndham for using on a daily basis.  They will tell you how horrible the sales practices of Wyndham are and ironically, they are using the exact same techniques to get you to buy their services.  They will tell you, for example, that they are calling you because they are investigating a complaint that you or a family member made.  This is a lie.  They do not have any information that you made a complaint.  They just want you to start telling them all the things that you are unhappy with Wyndham about.  (or other timeshare companys).  They will tell you that they do this service for free.  This is a lie.  Just ask them if you have to pay any money upfront.  Of course, they will not tell you the truth but you will find that you have to send them a check for many thousands of dollars or they will not do anything for you. You can do what they do for free.  You do not need to pay them tens of thousands of dollars to help you. They just lead you to think that they are doing something for you that you cannot do yourself.  All they do is tell you to stop paying your money to Wyndham.  If you do not pay Wyndham for 90 days, they will issue a deed in lieu automatically.  This happens as a matter of law.  It is simply a quick foreclosure process that is provided by law and Wyndham uses.  They make you think they have done some work for you but all they do is just tell you not to pay.  That is Step one of the fraud.  They get you out of your existing contract with your timeshare company.  

Step 2 of the fraud is to buy points cheap from a secondary market for pennies on the dollars.  They then sell you the points for astronomical amounts compared to what they paid for the points and for what you can get the points for on the internet from 3rd parties.  The scam is complete and you will never know what they did.  They fleeced you and they made an obscene profit doing it.  So step 2 of the fraud is to sell you back less points than you currently own so you do not have to pay as much and you have rolled back the clock to a point where you have the amount of points that you like instead of the extra points that you do not need. There are so many lies that they tell you that I cannot begin to list them.  One you should know about though is that they claim that a committee will decide if they will help you.  They will tell you that so many people want their help that they can only assist the people who have the strongest case.  What a joke!!!  They will take anybody who pays them.  They will also tell you that you have to make a decision in a hurry otherwise the committee will drop your case and they will help someone else.  Does this sound a lot like the tactics of Wyndham.  (You must buy today or you will not get this price again.)  They will tell you that this practice of Wyndham is misrepresentation and against the law.  They will not tell you that they use the same trick on you.

These people are professional liars and they use every illegal sales trick in the book to get you to purchase their product. These people need to be stopped. Until the FTC and FBI put them out of business for good, I will keep the internet up to date when they try to hide their identity again and again. Dont let them make you their next victim.News Article that was published April 25, 2002 by the newspaper Inside the Gate.Adam Lacerda, VO Group Staff Arrested for Timeshare FraudCAMDEN, N.J. (April 18, 2012) U.S. Attorney Paul J. Fishman announced yesterday that nine people from southern New Jersey were arrested for their alleged roles in a $2.4 million mail fraud conspiracy involving timeshare mortgages.Seven others were also charged in the conspiracy and will have initial court appearances in Florida, South Carolina, Virginia, and the U.S. Virgin Islands before going to New Jersey to answer the charges in Complaints unsealed yesterday. The defendants arrested in New Jersey were expected to appear yesterday afternoon before U.S. Magistrate Ann Marie Donio in Camden federal court.

All sixteen of them are affiliated with The Vacation Ownership Group, (a/k/a VO Group LLC).The nine defendants arrested in New Jersey are:Adam Lacerda, 28, Egg Harbor TownshipAshley R. Lacerda, 32, Egg Harbor TownshipSteven Cox, 48, Ventnor CityIan Resnick, 37, AbseconRyan E. Bird, 34, ClementonFrancis Santore, 52, NorthfieldBrian Corley 27 Egg HarborCatherine Bannigan, 57, Egg Harbor TownshipJoseph Diventi, 32, Somers PointAlso charged are:Alfred Giordano, 32, Horry County, S.C.Vincent Giordano, 27, MargateJoseph Saxon, 38, St. Thomas, Virgin IslandsAimee Allen, 26, Little River, S.C.Genevieve Manzoni, 46, Lake Worth, Fla.Eric Reilly, 33, GallowayEric K. Reiff, 40, Williamsburg, Va.

According to the complaint: In July 2010, law enforcement officers began investigating The Vacation Ownership Group, (a/k/a VO Group LLC). The investigation revealed that from at least March 2009 and to Sept. 1, 2011, the defendants, through the VO Group, participated in a fraudulent scheme in which representatives of the VO Group, often using false identities, telephoned owners of timeshare vacation properties purchased from Flagship Resort Development, Wyndham Vacation Resorts Inc., and other timeshare developers. They convinced the owners in some cases to submit money to the VO Group, purportedly to pay off the owners mortgages on their timeshares.The VO Group claimed that the timeshare owner could pay off the mortgage balance at a substantially reduced amount often by as much as 50 percent the amount of the owners original mortgage by mailing payment to the VO Group at a Post Office box in Pleasantville, N.J. The VO Group representatives also got timeshare owners to send the VO Group money purportedly to have timeshares cancelled or sold. After receipt of payments for the VO Groups service, the conspirators caused those payments to be deposited into a bank account in the name of the VO Group. Rather than paying off the timeshare owners mortgage, cancelling the owners timeshare, or selling the timeshare, the conspirators used the timeshare owners money for their personal use.

The investigation also revealed that in an attempt to cover up the scheme, the conspirators in most cases engaged in a bait and switch tactic by purchasing an additional timeshare in the victims name without the victims knowledge. The victim purportedly had assented to the purchase based on documents the VO Group previously emailed to the victim for signature even though the victim had been led to believe he or she was simply paying off the original timeshare mortgage. During the course of the investigation, law enforcement officers interviewed approximately 225 victims of the conspirators scheme identified to date. Many of the victims are elderly. Law enforcement has determined that the conspirators defrauded the victims of more than $2.4 million.All of the defendants except Alfred Giordano, Aimee Allen and Eric K. Reif were arrested Tuesday and are in custody.Another company associated with Adam and Ashley Lacerda is Timeshare Protection, LLC, but that company was not included in this complaint. 

P.O. Box 112
Pleasantville, NJ 08232

Toll Free:  +1 800 381 9469
FAX:         +1 800 537 2407
E-mail: customercare@vogroup.netThe Vacation Ownership Group
50 Rt 134
Dennis, MA 02638 
Toll Free:  +1 800 381 9469
FAX:           +1 800 537 2407
E-mail: customercare@vogroup.net The Vacation Ownership Group
2525 Perimeter Place Drive Ste 118
Nashville, TN 37214 
Toll Free:  +1 800 381 9469
FAX:         +1 800 537 2407
E-mail: customercare@vogroup.net 

This report was posted on Ripoff Report on 05/24/2012 02:05 PM and is a permanent record located here: http://www.ripoffreport.com/reports/vo-financial/egg-harbor-township-new-jersey-08234/vo-financial-vo-groupnbsp-vo-financial-scamnbsp-all-top-officers-arrested-by-fbi-for-f-887692. 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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#1 General Comment

VO group and VO financial ARE the same

AUTHOR: char - (United States of America)

Check the BBB reports  #1 see additional information and buisness management.  http://www.bbb.org/new-jersey/business-reviews/vacation-time-share/vo-financial-corporation-in-egg-harbor-twp-nj-90152429/    #2 http://www.bbb.org/new-jersey/business-reviews/timeshare-companies/vo-group-llc-in-egg-harbor-township-nj-90072424

Same management names and same address.

Now see the US Attorney's office report  http://www.justice.gov/usao/nj/Press/files/Lacerda,%20Adam%20et%20al%20Arrests%20News%20Release.html

 news stories on the CEO Adam Lacerda's arrest
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#2 UPDATE Employee

Free Service

AUTHOR: VO Financial Corporation - (United States of America)

We have verified this posting was a competing business and will have Rip Off Report exposed this within the next few days.

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#3 General Comment

this is normal business in america

AUTHOR: brian s - (United States of America)

in america we always pay people to do things we can do our self.lawyers landscapers plummers andbarbers.we do this because we feel more comfortable having someone with experince do it.thats all vo really offers their experince.and they deserve every cent they make.they are taking on a criminal enterprise.that is what wyndham is.the 2nd part is again normal practise in america.buy for a one dollar sell for five dollars.car dealerships buy cars at auctions for thousands less then they sell them for.they also trade your car and sell it for thousands more.the best negotiator wins.i suggest if you have a timesharep problem and you need help call vo financial the experts in this field. just like i did. be prepared to negoiate and prepared for relief.

brian s

a very happy ex-wyndham timeshare owner
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#4 UPDATE Employee

Competition Breeds Desperation

AUTHOR: VO Financial Corporation - (United States of America)

First, we would like to comment on this ridiculous article posted by a smaller desperate spin of this corporation which sole purpose is to (unsuccessfully)attempt to hurt business.  To be clear with all of this, VO Financial Corporation, VO Financial NJ Inc., VO Financial TN Inc., VO Financial MA Inc., and VO Financial SC Inc., is not VO Group, LLC nor has an LLC changed its name as VO Financial is a large orporation which began operation prior to any alleged wrong doing by owners of VO Group.

Also, VO Financial has less than 4 % of its staff having timeshare experience but some individuals like to make up fairy tale stories to make their slanderous post sound better. Rip off report is meant for consumers to complain if they had a bad experience, which it is clear to see there is no one out there doing do.

We also find this person or entity responsible as not only are they trying to damage the name of the company they learned and then stole from but they also lie to the public in their response claiming, If you do not pay for 90 days, they will issue a deed in lieu automatically. This happens as a matter of law. It is simply a quick foreclosure process that is provided by law and companies uses.  It is obvious they did not learn enough from us before stealing and replicating the company.

The truth is VOF will work with the client during this process, which normally takes 150-180 days, by consulting about how the process works and providing stop call letters to the client so they can send to their mortgage holder in order to stop the harassing debt collection calls. Telling people 90 days is not only a lie but irresponsible. As the federal Dodd-Frank Act permits, timeshare mortgages, as opposed to residential personal mortgages, are specifically permitted to utilize the non-judicial foreclose process i.e. a deed in lieu of foreclosure in addition to other state specific legislation permitting the same (FL Ch. 721). In addition, a deficiency judgment will not be entered against the client after they receive a deed in lieu so as to eliminate all obligations associated with the timeshare and the accompanying debt.

Also, besides the officers of VO Group,LLC being falsely accused of ridiculous charges, VO Financial Corporation does not employ anyone involved in this matter. Also even though they are not the same and unrelated, neither company has been accused or charged with any wrong doing and operates freely around the country.

VO Financial  is currently the largest timeshare consulting firm in the country specializing in retail installment loans. VOF currently serves of over 9000 consumers throughout the United States, Canada, Mexico, and US Virgin Islands.

The article we are responding to is from a spinoff company in Mt Juliet, TN whose officers previously officers worked for this company. They then conspired to steal our proprietary process and start their own entity. To be clear, these serve less than 150 clients and judging by what they wrote Telling people 90 days its apparent they have no idea what they are doing.

VO Financial has requested the identity of this poster which of course they are remaining anonymous. Here is why however, when someone writes false, slanderous, inaccurate statements they are liable for what they write. VO Financial will immediately sue this individual or entity responsible for posting this mess of an artical which is full of inaccurate information because VOF can prove the slanderous and defamatory statements. It should be obvious why this poster will remain Anonymous but we are hoping that will change: VO Financial
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