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Property Management Group Inc.

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Property Management Group Inc. Reports & Reviews (1)

We own a Villa Group timeshare in Mexico. Property Management Group, Inc. (PMG) contacted us by phone claiming they represented a corporate buyer willing to buy our timeshare at almost double the price we paid for it several years ago.

We were contacted by other scammers in the past so we were skeptical. Nevertheless, we agreed to look into it. Contrary to previous scams, the Property Management Group, was able to prove they are a legitimate business registered with the Secretary of State. In addition, the owner, Derek Rinetti, gave me a reference of another client of theirs who he claimed successfully sold their Villa Group timeshare thru PMG.

PMG directed us to send $2,500 upfront to the "buyer's attorney" in Mexico for legal work to transfer the title to the buyer.

Based on our due diligence , we agreed to wire $2,566 to the "buyer's attorney" Alex Rodriguez at the law firm, Asociados Randez Peralta, located in Zapopan, Jalisco, Mexico. The beneficiary of the wire transfer was a company named "CIA DE SERV Y TRANSP TIERRA ALTA S.A. DE C.V."

Fortunately for us, my bank, Citibank, blocked the wire transfer due to fraudulent activity associated with the beneficiary, so the transfer did not go through.

Since Mr. Rinetti and PMG appeared to be a legitimate company, I called Mr. Rinetti to inform him that the beneficiary was fraudulent and a scam. He replied that he completed "11" transactions with the company and assured me that Citibank was mistaken. In response, I said, "So since you are 100% sure that the offer is legitimate, you send the $2,500 to Mexico. If the sale goes thru, not only will I reimburse you the $2,500, I'll pay you a $1,000 bonus" . Of course, Mr. Rinetti declined my offer, and thereby proved that the scheme is fraudulent.

Beware of any timeshare resale schemes from Property Management Group, Inc.! It is a scam!

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