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2w ago

U.S. Targets CJNG-Linked Timeshare Fraud Network With New Sanctions

By freezing assets to block transactions, the U.S. aims to cut a key cartel funding stream

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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Overview

  • OFAC and the State Department designated four individuals, including Julio Cesar Montero Pinzon and Michael Ibarra Diaz Jr., plus 13 Mexican companies tied to Puerto Vallarta timeshare scams.
  • Investigators say the network ran call centers using insider resort data and English-speaking telemarketers who impersonated brokers, attorneys or officials to extract advance fees and taxes.
  • FBI data show nearly 6,000 U.S. victims lost about $300 million to these schemes from 2019 to 2023, while FinCEN flagged $23.1 million in suspect transactions in six months after a 2024 advisory.
  • Officials warn that revenues from the fraud feed CJNG’s narco-terror activities, including fentanyl trafficking and violent enforcement under its FTO/SDGT designation.
  • Authorities are urging victims to report incidents to the FBI’s Internet Crime Complaint Center and advising prospective timeshare buyers to conduct thorough due diligence.