To victims of Wyndham Timeshare fraud and to those responsible for oversight of Wyndham - Myra J. Biblowit, Brian Mulroney, George Herrera, James E. Buckman, Michael Wargotz, Pauline D.E. Richards, Stephen Holmes, Franz Hanning and Ryan Morettini:
Its very evident that Wyndham would rather pay lawyers than its own defrauded timeshare owners. Wyndham has taken a strategy of using procedural loopholes and legal tricks to delay and dismiss legal actions. Countless elderly timeshare owners have bravely filed suit against Wyndham over the last year. These suits seek to obtain a refund from Wyndham for money fraudulently taken through high pressure coercive sales schemes.
Unless you have sat through a Wyndham sales meeting (called “owner update” meetings by Wyndham), it’s hard to understand how horribly difficult they can be on seniors. Wyndham’s overarching scheme is superbly simple. The timeshare owner enters the meeting unsatisfied with their current timeshare situation. Wyndham takes the position that since there is no way to get rid of the timeshare (and thus the monthly liability), seniors only choice is to upgrade the timeshare (buy more points). Every upgrade is then sold with the promise that it will fix their timeshare ills. Of course, that is rarely true, and the poor timeshare owner becomes part of the Wyndham grind mill of endless upgrades and program changes.
Many who fall victim to Wyndham’s endless upgrade schemes eventually find the only way to stop the madness is to challenge Wyndham in court. That’s when Wyndham adds insult to injury. They employ very high priced lawyers to make such litigation as painful as possible on these brave owners, eventually forcing them to drop their suits or settle for pennies on the dollar. These harsh, uncompassionate and expensive tactics have intimidated countless timeshare owners (and their lawyers) from filing what are extremely valid claims against Wyndham. Thus, Wyndham believes it’s more profitable to pay lawyers money than to refund their ill-gotten gains to defrauded seniors.
So what can these elderly victims do? They can start speaking out loudly to everyone, certainly calling and writing regulators, government authorities, and the media – everyone who will listen. However, there is a better way to get your voice heard. Wyndham is a public company designed for one purpose – to make money for its shareholders, the largest of which are Wyndham insiders and institutional investors. Those ultimately responsible for the company are its directors. Wyndham’s Board of Directors is made up of insiders, those also in management positions with Wyndham, and outside directors, usually reputable people who are really the only check or balance on corporate corruption by the insiders.
While we should appeal to all Wyndham directors, it’s likely that any inside director (in this case only Stephen Holmes, Wyndham’s CEO) is likely already aware of the fraud being conducted, and is either ethically accepting of such conduct, or has allowed their financial interest in Wyndham to overshadow any moral dilemma they may have.
However, while the outside directors likewise have a significant financial interest in Wyndham through lucrative stock options, they generally are kept in the dark about the micro day to day sales schemes that result in the lion share of Wyndham’s revenue. While they may review Wyndham’s quarterly and/or annual financial data, they are likely unaware of the policies, practices and methods that generate such significant timeshare revenue.
Interestingly, in the case of Wyndham, all of the directors are actually outside directors save Mr. Holmes. Consequently, our proposition is that everyone begins a dialogue with Wyndham’s outside Directors, those whom we hope and expect are wholly unaware of the horrible and unfortunate timeshare fraud being committed in the name of Wyndham’s corporate profit.
Pursuant to their fiduciary responsibility to the company, they need to know what is happening to our parents and grandparents. They need to understand the diabolical methods employed by Franz Hanning and his minions to generate such large returns from the timeshare division. It is our hope that with such knowledge, the directors will immediately take steps to both stop the illicit sales activities, and begin repaying those seniors who have lost their life savings to the whirl pool drain that is Wyndham Vacation Ownership.
The following directors should be contacted by everyone who has been victimized by Wyndham: Myra J. Biblowit, Brian Mulroney, George Herrera, James E. Buckman, Michael Wargotz, and Pauline D.E. Richards. Help these good people understand your plight and what is happening. It is our assumption that none of these honorable professionals would want their names attributed to such underhanded scams and secret schemes. If we all speak out to these people, it is our hopeful belief that finally positive steps will begin to take place – the reformation of the timeshare division, and right the wrongs done to these elderly owners.
If you also want to make your opinion known to those more directly involved in Wyndham’s timeshare fraud, the following would be a good place to start: Franz Hanning is the President and CEO of Wyndham Vacation and Ryan Morettini is the Vice President of Wyndham’s Legal Department. There are also a number of other in-house and outside lawyers who could be contacted. Some of the contact information for the above individuals can be found either on Wyndham’s website or via Google. Good Luck!