N.J. Resident Admits to Timeshare Mortgage Scam

A New Jersey resident who previously worked for a Pleasantville business has admitted to conspiring to defraud owners of timeshare properties by offering phony consulting services, including timeshare mortgage servicing.

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Joseph Saxon, 39, of Brigantine, N.J., pleaded guilty in Camden Federal Court to information charging him with one count of conspiracy to commit mail and wire fraud, according to the Federal Bureau of Investigation.

Saxon is one of 13 defendants who worked for the business who have pleaded guilty to committing mail fraud and wire fraud. Sentencing is scheduled for September.

According to documents filed in the case and statements made in court Saxon previously was trained by the co-owner of a business to call customers using prepared scripts giving them the false impression he was working for a bank or lending institution.

In one example, Saxon falsely told a consumer he was working for the bank that held that consumer’s timeshare mortgage and that the bank wanted to settle the loan for a fraction of the price. In response, the consumer mailed a check for almost $6,000 to the company, causing more than $120,000 in losses.


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