Treasury Sanctions Mexican Cartel Associates for Timeshare Scams Targeting Older Americans

Victims may be targeted repeatedly by scammers posing as government officials and lawyers.

The letters "CJNG" for the cartel's formal name, Jalisco New Generation Cartel, covers the facade of an abandoned home in El Limoncito, in the Michoacan state of Mexico, Oct. 30, 2021. AP Photo/Eduardo Verdugo, File

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned multiple individuals and companies linked to a Mexican cartel for engaging in timeshare fraud targeting U.S. citizens, the department said in an Aug. 13 statement.

“These complex scams often target older Americans who can lose their life savings. The lifecycle of these scams can last years, resulting in financial and emotional devastation of the victims,” the department said.