Further to all of our reports in 2015 on Dyserth Falls, a Continental Trust Resort and members of RCI, the troubled resort has been advertised on Right Move, and is placed with GBP Developments for sale. There have been reports since the re-opening, last year, of the Timeshare Resort / Holiday park, that they have received surges of bookings under their new management. This resort has a colourful past, and has not provided great service or accommodation to the original Timeshare Owners, and is currently under investigation for Fraud.
There have already been several court cases against the previous director, Arthur Goddard and sales manager, Alan Hill where they were both found guilty of fraudulent transactions amounting to the sum of around £500k. There were breaches of the Timeshare Act 1992 in the rush and pressure to get their clients to sign up for their resorts. The two men were jailed for 2 years each, and they have both been banned from becoming Directors of another company for eight and five years consecutively.
However, the problems were not to stop here, the closure in January 2015, before re-opening, sparked a lot of controversy from timeshare owners nationwide, whom had swapped other Timeshare properties that they previously owned, to help with the purchase of their new week at Dyserth Falls, however this never seemed to happen, their previous timeshare ownership was never relinquished and many were left with both timeshare contracts, and a liability to pay both sets of maintenance every year.
There were around 50 individual couples that were affected in these fraudulent transactions and an action group was formed. There was a large inquiry started by the North Wales Police called ‘Operation Nefarious’ in respect of the fraudulent contracts in respect of fractional ownerships, which the Fraud office and the National Crime Agency became involved with as well. The investigation has been widened as it is believed that there are more nationwide cases.
We have to wonder how the land can be sold as a going concern while there are still outstanding legal investigations. Also who would be liable to the Timeshare Owners if the estate does sell. Will the Timeshare Owners benefit at all from any monies gained from the sell, we at the TCA seriously doubt it. If you are a Dyserth Falls Owner, or you are caught up in one of the fractional ownership disputes, we would love to hear from you on the email or contact number below.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk