Cape Cod Time Share Developer Pocketed $1.5M Of Customers' Cash, Then Failed To Deliver Units, Says Mass AG

In Boston, Massachusetts, Cape Cod Times reports:

• The former owner of the Navigator Beach Club in Dennisport collected more than $1.5 million from consumers, but never delivered the timeshare units promised in exchange, Attorney General Martha Coakley alleges in a lawsuit filed [last week] in Boston. Hingham resident Robert Reposa and LSC Associates, his development and management company, are accused of taking money from more than 100 buyers and later abandoning the project without providing any compensation to consumers. The resort property was sold in a foreclosure auction in October. [...] The complaint also accuses Reposa of using deceptive marketing practices and failing to properly file deeds for many of the timeshare units that were sold.

• In additional to the attorney general's complaint, another lawsuit will soon be filed on behalf of 25 plaintiffs who paid Reposa close to $600,000 for units that were never completed, Falmouth attorney Richard Reilly said. "They bought it, then it was foreclosed on before they knew what was going on," Reilly said. "None of them ever got to use them."

For more, see Attorney general sues Cape timeshare developer.

For the Massachusetts Attorney General press release, see AG Coakley Obtains Temporary Restraining Order Against Former Owner of Cape Cod Time-Share Who Allegedly Scammed Consumer Out of Millions.