“We’re urging anyone with information on these new companies to come forward and support our enquiries”.
An investigation into a suspected organised crime network selling timeshare services has been expanded. Now the Serious Fraud Office has issued an appeal for victims to come forward.
Hundreds of people are thought to have fallen victim to an alleged scam believed to have netted tens of millions of pounds for criminals. And a prime suspect for the complex scheme was arrested at Manchester Airport.
In March, the Manchester Evening News reported that nineteen companies claiming to help people exit their timeshare contracts are under scrutiny. That has now been increased to 24 UK-based companies.
The Serious Fraud Office (SFO) is appealing for information from the public in relation to a multi-million-pound timeshare services scheme, as it expands an ongoing fraud investigation.
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Its investigation has expanded to include Guardian Executives Ltd, McLaren Consultants Ltd, Prime Engagement Ltd, Regulat Consulting Group Ltd and Sparks Wiseman and Rafe Ltd. These companies were based across London, Manchester, Hove, and York targeting individuals across the country.
Investigators are encouraging people who were contacted by individuals from these companies and purchased their services to contact the SFO.
Members of the public would have been cold-called and offered either an exit or compensation from timeshare or holiday clubs located in Tenerife, Lanzarote and mainland Spain for an upfront fee from January 2018. It is understood that no services were provided in most cases.
The investigation by the Serious Fraud Office began in August with the arrest of a suspect at Manchester Airport.
Emma Luxton, SFO Director of Operations, said: “The investigation continues to develop as new material is reviewed building a clearer picture of how these companies operated.
“Our renewed appeal is an important step in our investigation and we’re urging anyone with information on these new companies to come forward and support our enquiries”.
In August last year the SFO arrested a man they call a “key suspect” at Manchester Airport and searched his home address, going on to conduct four arrests of suspected accomplices and conduct three raids of properties across England the following month.
Emma Luxton, Director of Operations at the Serious Fraud Office.
The SFO was assisted by the National Crime Agency, Greater Manchester Police and Hertfordshire Constabulary in these operations.
Two of the 24 companies allegedly involved are registered in Manchester.
It is suspected the companies cold called members of the public offering exit and/or compensation from timeshare or holiday clubs for an upfront fee of £1,000 between January 2018 and September 2024. No services are understood to have ever been provided in most cases.
In a double scam, people who purchased these services are then believed to have been contacted again and pressured into paying another upfront fee to recover their money on the basis that it was fraudulent.
Many of the victims are understood to be elderly and retired. The SFO is asking for anyone contacted by these companies to share information via its questionnaire on its website.
A key suspect was arrested at Manchester Airport.
The first batch of 19 companies named by the SFO were: AML Executive Contracts Ltd, ASA Partnership Ltd, DW Contract Consultancy Ltd, DW Law Consultancy Ltd, ERS Europe Ltd, Harwood Advisory Group Ltd, Huntland Rock Associates Ltd (Hunter Rock Associates), Meta UK Group Ltd, Milton Chadwick Consultants Ltd, The Nobel Group of Companies (including but not limited to Nobel Acquisitions and Investment Group Ltd and Nobel Business Services Ltd), Park Square Associates Ltd, Rockland Associates Ltd, Silverstream Management Group Ltd, Sonata Trading Ltd, Termination Services Ltd, The Biz Doc UK Ltd aka Business Doctor, Timeshare Legals Ltd, TSL Europe Ltd and Venture Compliance Ltd.
Ms Luxton previously told the Manchester Evening News: “We became aware of a crime where a timeshare exit scheme was being fraudulently sold by cold calling.
“It was asking people basically if they would like to buy a service which would let them exit a timeshare scheme if they were bound into it.
“This was going on in a very widespread fashion from about 2018. We have hundreds of victims and witnesses that we are trying to contact.
“Once they had sold the exit schemes they were calling the victims back in the guise of a different company trying to sell them another timeshare exit scheme saying the first was fraudulent so some of the poor victims who fell for the first scheme fell for the second too. We think millions of pounds have gone missing.
“The arrest we conducted in August (2024) was one of our suspects who was in Manchester Airport trying to board a flight.
“We then conducted four further interviews of suspects in September (2024) doing three raids and acquiring a lot of information for our investigation. Now we are working through that trying to piece it all together.
“We know some of those involved are part of organised criminal groups. So very experienced fraudsters and very well connected.”
The SFO is now seeking more victims as they prepare a case against the suspects. “We don’t know exactly how many victims there are, but we know it is in the hundreds in the UK,” said Ms Luxton. She added that the amount made by the scam “could be in the tens of millions”.
She added that financially some victims had been “stung very badly”.
“We want to get as many victims as possible coming forward. We realise that it can be embarrassing and people may feel foolish. But the perpetrators can come across as pretty genuine, they are very skilled at what they do. We don’t want victims to be reluctant about coming forward.”
As part of the investigation the SFO arrested a man in his 60s on July 8 this year at Gatwick Airport. He was questioned and his devices seized. He was released on bail under investigation.