18 Nov 2008 6:16 PM:
Hi All, below is the reply I received from the enforcement team of OTE (Organisation of Timeshare in Europe)
As regards "Asset Management Recoveries" (AMR) I can inform you initially the following:
1) AMR is not listed at the Spanish Companies House, although it is allegedly based in Barcelona.
2) AMR seems not to provide to its potential clients with any business address in Barcelona and uses cold calls and emails from @hotmail and @ (another email address I can't add to this forum) (anybody could open an account with these two e-mail providers) to deal with the people they contact. Only provides a phone number: + 34 933 905 471. It is a phone number from Barcelona, but it might be redirected to somewhere else, and we are investigating this bit.
3) We are not aware of any kind of class action litigation carried to compensate the victims of such "Loyalty Bonus Scheme" that many people seems to have signed, when they purchased their timeshare with United Paradise Group, at Chayofa Country Club or The Palms, in Tenerife years ago.
4) Who are these people based in Tenerife who would refund the money (several thousands GBP per victim) of this failed bonus scheme? No contact details provided.
5) Our sources tell us that they are requesting 175 GBP admin / legal fees to claim the refunds, and inviting the victims to travel to Tenerife, and stay a week in a resort, to help to complete the transaction.
In conclusion, this is highly likely to be a scam run from Tenerife, by people who might have sold you initially such "loyalty bonus scheme", or the list of such members, have been sold to third parties, trying now to run this highly likely bogus operation. As regards the people asked to travel to Tenerife, they should expect that AMR will try to sell them a bogus product - i.e. holiday club membership with a cash back programme – or a bogus a resale offer for their timeshare weeks / points, etc.
We are particularly keen on getting hold of any additional information related to AMR that might help us to track down the people running this scam - i.e. phone, fax & mobile numbers, bank accounts, etc.
Kind regards
Alberto García
Enforcement Project
OTE
I decided to give AMR a wide berth!!
Thread:
Anyone heard of Asset Management Recoveries Barcelona?
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