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Latin Times
Latin Times
National
Héctor Ríos Morales

U.S. Department of the Treasury sanctions cartel accountants and firms for timeshare fraud in Mexico

Mexico FBI United States Jalisco New Generation Treasury Department
According to the FBI, approximately 6,000 U.S. victims reported losing nearly $300 million between 2019 and 2023 to timeshare fraud schemes in Mexico (Credit: Image via atg.wa.gov)

SEATTLE - Amid the continuous scam that some Americans are facing over their timeshares in Mexico, the U.S. Department of the Treasury is now imposing sanctions on a group of Mexican accountants and firms allegedly linked to a timeshare fraud ring that is controlled by the Jalisco New Generation drug cartel, one of the most dangerous criminal organizations in Mexico.

Three accountants and four Mexican real estate and accounting firms were hit with the sanctions due to their links to CJNG's timeshare activities. U.S. authorities say that most of these scams are located in Puerto Vallarta, Jalisco, which is a strategic stronghold for the cartel. In addition, Treasury and the FBI issued a notice to banks with a reminder to be vigilant in detecting and reporting timeshare fraud.

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