The Idaho Department of Finance has ordered All Net Escrow, an online timeshare company that is accused of scamming consumers, to stop operating in Idaho.
The department sent out a consumer alert two weeks ago after finding that All Net Escrow's Eagle address actually belonged to an unrelated business. All Net Escrow is not licensed to do financial business in Idaho. The alert said the company seemed to be related to Castle Wealth Management, a company that also reported a seemingly false address in Oklahoma.
Mexico timeshare owners have been contacted by Castle Wealth saying it has a potential buyer for their timeshare unit. All Net Escrow then sends account information to the owner, "leading owners to believe funds have been received from a purchaser and are being held in escrow," said Gavin Gee, department director. "The owner is then required to pay a 'transfer fee' by wiring funds equal to about 1 percent to 5 percent of the sales price to a bank in Mexico. Owners are told this fee will be refunded at the closing of the transaction."
At least one person from Idaho has reported dealings with All Net Escrow. Another nine people from around the country have contacted the department about being in various stages of timeshare transactions.
Call (208) 332-8080 or (888) 346-3378 to report All Net Escrow or Castle Wealth Management interactions to the department.