Wiand Appointed Receiver in FTC Enforcement Matter Against Timeshare Telemarketers
On May 20, 2013, the United States District Court for the Middle District of Florida appointed Burton W. Wiand as temporary Receiver over Resort Solution Trust, Inc. – the corporate defendant in Federal Trade Commission v. Resort Solution Trust, Inc., Lincoln Renwick II, & Anthony Talavera, Case No. 8:13-cv-01329-T-33TMB (M.D. Fla.). This appointment arose out a civil enforcement action the FTC filed against the defendants for operating a “timeshare resale” scam that defrauded consumers nationwide out of at least $10 million since 2008.
According to the FTC, the defendants employed telemarketers to call individuals who were attempting to sell their timeshares. The telemarketers would tell the sellers that they identified a buyer interested in purchasing the seller’s property, but the seller would first have to pay fees of hundreds or thousands of dollars for purported sales-related costs. The telemarketers promised that the money would be refunded at closing. Desperate to sell their costly timeshares in an extremely adverse market, many sellers believed the telemarketers’ promises and paid the fees. There were no buyers, however, and the money was never refunded.
Wiand indicated he is pleased with his appointment in this matter. “While acting as Receiver in FTC enforcement actions may not always involve extensive activities, the Receiver’s role is a necessary part of such regulatory actions, and I am happy to assist the FTC in carrying out its vital role to protect consumers throughout the United States,” he said.
Wiand is a member of the National Association of Federal Equity Receivers. He has served state and federal courts as Receiver on multiple occasions. In 2008, the United States District Court for the Middle District of Florida appointed Wiand as Receiver in F.T.C. v. Mortgage Foreclosure Solutions et al., Case No. 8:08-cv-388-T-23EAJ, at the request of the Federal Trade Commission. In addition, Wiand served as Receiver in S.E.C. v. HKW Trading, LLC et al., Case No. 8:05-cv-1076-T-24TBM, a multimillion dollar fraud case brought by the Securities and Exchange Commission against Howard Waxenberg in connection with Mr. Waxenberg’s operation of a Ponzi scheme. Wiand is currently serving as Receiver in F.T.C. v. National Solutions LLC at al., Case No. 11-cv-1131-ORL-22GJK (M.D. Fla.), which involves a $6 million telemarketing and timeshare resale scam almost identical to that operated by the defendants in this Resort Solution Trust matter. Wiand is also currently serving as Receiver in a $400 million Ponzi scheme case, S.E.C. v. Arthur Nadel et al., Case No. 8:09-cv-87-T-26TBM, in which Arthur Nadel operated a fraudulent scheme through which investors in Mr. Nadel’s hedge funds lost millions of dollars.
Wiand is a founder of Tampa-based Wiand Guerra King PL, which focuses on complex commercial disputes, securities litigation, regulatory matters, and white collar defense. Wiand Guerra King was formed in 2009 when several of the members moved from one of the largest and most highly-regarded firms in Florida. Wiand Guerra King’s attorneys have over a century of combined experience in regulatory proceedings, civil and white-collar criminal litigation, and arbitration. Several of the firm’s lawyers hailed from senior levels of the SEC’s Division of Enforcement, from one of the nation’s top financial services firm, and from leading national and international law firms. Many of the firm’s attorneys have practiced together in one form or another since 1994.