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The Federal Trade Commission is mailing 8,088 refund checks totaling nearly $2.7 million to consumers who paid an up-front fee to re-sell their unwanted timeshares. The average check amount is $332, and it must be cashed within 60 days, as indicated on the check.

According to the FTC’s complaint, between November 2011 and December 2016, Pro Timeshare Resales, LLC and related defendants called timeshare property owners and falsely claimed that they had a buyer or renter ready to buy or rent their properties for a specified price. In other instances, the defendants made false promises to sell the timeshares quickly, sometimes within a specified time period.

The defendants charged property owners up to $2,500—and sometimes more—in advance but failed to deliver on their promises, the FTC alleged. The FTC stated in the complaint that the defendants made a range of additional false claims to the owners as the process continued, as well.

The consent order settling the FTC’s charges permanently bans Pro Timeshare Resales, LLC and its principals from timeshare resale services and telemarketing, and requires them to surrender assets including homes, vehicles, a Rolex watch, silver coins, and a diamond ring, which are being used to provide refunds to defrauded consumers.

JND Legal Administration, the refund administrator for this matter, will begin mailing checks today. The FTC never requires consumers to pay money or provide information to cash refund checks. Consumers who have questions about the mailing should call 1-844-546-3045. Consumers who believe they lost money to this scheme, but do not receive a check, can contact the refund administrator using the hotline number.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.