David Saks: Husband and Wife, Others Convicted in $3MIL Timeshare Mortgage Fraud

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Husband and Wife, Others Convicted in $3MIL Timeshare Mortgage Fraud

Husband and Wife, Two Others Convicted at Trial in $3 Million South Jersey Timeshare Mortgage Fraud Scheme

U.S. Attorney’s Office September 05, 2013
  • District of New Jersey (973) 645-2888

CAMDEN, NJ—A federal jury convicted a husband and wife and two others today for conspiring in a $3 million conspiracy to scam customers by offering phony consulting services to owners of timeshares through the New Jersey-based Vacation Ownership Group LLC, U.S. Attorney Paul J. Fishman announced.

The jury returned the verdict after two days of deliberation following a seven-week trial before U.S. District Judge Noel L. Hillman in Camden federal court.

Four defendants—Adam Lacerda, 28, and Ashley Lacerda, 32, both of Egg Harbor Township, New Jersey; Ian Resnick, 37, of Abescon, New Jersey; and Genevieve Manzoni, 46, of Lake Worth, Florida—were convicted of one count of conspiracy to commit mail and wire fraud.

Adam Lacerda was also convicted of nine counts of mail fraud and three counts of wire fraud. Ashley Lacerda was convicted of one count of mail fraud and four counts of wire fraud.

Resnick was convicted of three counts of mail fraud and three counts of wire fraud. Manzoni was also convicted of one count of mail fraud.

A fifth defendant, Joseph Diventi, 32, of Somers Point, New Jersey, was acquitted of the two counts with which he was charged.

According to documents filed in this case and the evidence presented at trial:

The defendants schemed to defraud hundreds of timeshare owners by offering fraudulent consulting services through their company, the Vacation Ownership Group (now VO Financial).

Adam Lacerda, the company founder, president, and chief executive officer, devised the company’s fraudulent sales pitches.

He directed his sales force to tell numerous lies to VO customers, including that VO worked with the banks holding the customers’ loans, would use money sent by customers to pay off the customers’ loans on their timeshares, and could cancel customers’ timeshares with money back.

His wife Ashley Lacerda, the company vice president and chief operating officer, sent fraudulent contracts to customers and managed the office.

Resnick, a convicted bank robber, started as a salesman giving the fraudulent sales pitch but became Adam Lacerda’s enforcer, with the title “director of compliance.”

Genevieve Manzoni was a top VO sales representative who falsely told one victim she worked with a bank and another victim that she worked with a timeshare developer.

The 14 victims who testified at trial—including business executives, veterans, senior citizens, a lawyer, and a professor—were defrauded of a total of tens of thousands of dollars by the defendants’ sophisticated scheme.

Each count of which the defendants were convicted carries a maximum potential penalty of 20 years in prison $250,000 fine, or twice the gain or loss caused by the offense. Sentencing before Judge Hillman is scheduled for December 12, 2013, for Resnick and Manzoni and December 13, 2013, for the Lacerdas.

To date, 13 other members of the VO Group have pleaded guilty to conspiring to commit mail fraud and wire fraud in connection with the scheme.

U.S. Attorney Fishman credited special agents of FBI’s Atlantic City Resident Agency, under the direction of Special Agent in Charge Aaron T. Ford in Newark; and special agents from the Department of Labor, Office of Inspector General, Office of Labor Racketeering and Fraud Investigations, under the direction of Assistant Special Agent in Charge Michael Mikulka, New York Field Office, New York Region, for the investigation. He also thanked the New Jersey Department of Labor and Workforce Development for its assistance.

The government is represented by Assistant U.S. Attorneys Alyson M. Oswald and R. David Walk, Jr. of the U.S. Attorney’s Office Criminal Division in Camden.

source: FBI

http://www.fbi.gov/newark/press-releases/2013/husband-and-wife-two-others-convicted-at-trial-in-3-million-south-jersey-timeshare-mortgage-fraud-scheme?utm_campaign=email-Immediate&utm_medium=email&utm_source=fbi-in-the-news&utm_content=254935




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 3 commentsDavid Saks • September 06 2013 12:14PM

Comments

Glad to hear that they were caught.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 5 years ago

Ditto. Thanks for reviewing the press release, Gabe. Hope you're having a great weekend.

Posted by David Saks ((retired)) over 5 years ago

for my own experience i can say that timeshare business is very tricky , dont waste money on that , i was scammed by a mexican resort months ago, luckily i cancelled at time ,in my desperation i found this site that explains quite well some tips to get out of a timeshare

http://www.timesharescam.com/blog

Posted by emily olson over 3 years ago

This blog does not allow anonymous comments