The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned three Mexican accountants and four Mexican companies linked, directly or indirectly, to timeshare fraud led by the Cartel de Jalisco Nueva Generacion (CJNG).
According to the FBI, since at least 2012, the CJNG and other Mexico-based criminal organisations have increasingly targeted U.S. owners of timeshare properties in Mexico. Older adults are frequent victims in these schemes.
The criminal organisation operates call centers in Mexico where scammers impersonate U.S-based third-party brokers, attorneys, and sales representatives, using proceeds from timeshare fraud to diversify revenue streams and fund other illegal activities, including manufacturing and trafficking illicit fentanyl and other drugs into the US.
Approximately 6,000 U.S. victims reported losing a total of nearly $300 million between 2019 and 2023 to timeshare fraud schemes in Mexico.
OFAC decided to impose sanctions on Mexican accountants Griselda Margarita Arredondo Pinzon (Arredondo), Xeyda Del Refugio Foubert Cadena (Foubert), and Emiliano Sanchez Martinez (Sanchez) who are linked to CJNG.
Also, OFAC has sanctioned some Mexican companies: Constructora Sandgris, S. de R.L. de C.V., Pacific Axis Real Estate, S.A. de C.V., Realty & Maintenance BJ, S.A. de C.V., and Bona Fide Consultores FS S.A.S.
