“Today, we are happy to have reached agreement on a resolution with the state of California and to have built one of the strongest and most transparent sales compliance programs in the timeshare industry. “Welk Resorts took immediate corrective action when first alerted to these issues nearly five years ago,” the company said in a statement. The Escondido-based company denied any wrongdoing and noted that it immediately responded to complaints when first notified.
In addition to $5.4 million paid to timeshare purchasers, $180,000 will be paid to the District Attorney’s Office, the state Attorney General’s Office and the Department of Real Estate, according to a District Attorney’s Office spokeswoman.
The DA’s Office said officials received “hundreds of complaints,” triggering the investigation into Welk Resorts. Welk Resorts was accused of misleading consumers who purchased a timeshare in the company’s Platinum Program, in violation of the Vacation Ownership and Time-Share Act of 2004. 1, 2011, and March 31, 2016, including that customers were buying real estate that the value of their investment would increase that they could easily refinance their purchase and that they could secure vacation spots during major holidays like Christmas. Image via Ī local timeshare company has agreed to pay up to $5.5 million to settle a consumer protection lawsuit alleging false promises were made to customers during sales presentations, the San Diego County District Attorney’s Office announced Wednesday.Īccording to prosecutors, Welk Resorts will pay $2 million in penalties and up to $3.4 million in restitution to timeshare purchasers who were told various things during presentations held between Jan.
Monument signage for Lawrence Welk Resort north of Escondido off Interstate 15.
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