Mexican cartel members linked to timeshare fraud slapped with sanctions

The Department of Treasury announced new sanctions against Mexican cartel members and associates Thursday accused of being linked to defrauding timeshare owners, the department said in a statement.

The Treasury Department sanctioned seven individuals and 19 Mexican companies that are either members or associates of Cartel de Jalisco Nueva Generacion (CJNG) for working to scam tourists into paying for assistance with their timeshare properties in Mexico, according to the statement. The FBI issued an alert to the public March 2, warning of scammers targeting tourists with timeshares as the Treasury Department then issued similar sanctions against eight Mexican companies.

The scammers are known to contact the timeshare owners to sell or rent their properties in Mexico using persistent contacting tactics that include asking for payment and then going dark on the victims.

CJNG is largely responsible for the fentanyl trafficked to the U.S. that has led to a surge in overdose deaths in the U.S., according to the Treasury Department.

“CJNG’s deep involvement in timeshare fraud in the Puerto Vallarta area and elsewhere, which often targets elder U.S. citizens and can defraud victims of their life savings, is an important revenue stream supporting the group’s overall criminal enterprise,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said in a statement.

One of the individuals sanctioned, Eduardo Pardo Espino (Pardo), is a fugitive from American authorities and performs financial services for CJNG’s Puerto Vallarta branch, according to the Treasury Department. Pardo is associated with Servicios Administrativos Fordtwoo, S.A. de C.V., which has paid CJNG members and is linked to the timeshare operation.

“As part of the Administration’s whole-of-government effort to address this crisis and, in coordination with our partners in Mexico, Treasury remains committed to disrupting CJNG’s sources of revenue,” Nelson said.

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