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Author Topic: Lanzarote Court Awards Compensation For Beach Club Fraud  (Read 21770 times)
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Date Registered: August 26, 2009, 10:45:31 am
Posts: 17

« on: August 13, 2010, 01:03:29 pm »

March 2010

A Lanzarote court has awarded 12 French Nationals over 200,000.00 euros compensation in regard to the Lanzarote Beach Club Fraud.

It is being paid by Sands Beach Villas as the firms are connected.

A group of British and French consumers launched the compensation claim in the Lanzarote courts in March 2010 in respect of their loss of membership of Lanzarote Beach Club and/or International Vacation Club

The Lanzarote Beach Club was opened in 1985 as a top quality timeshare resort in Lanzarote, Canary Islands. At its peak it is believed there were over 18,000 owners. It was for many years the most exchanged into resort in Europe. Read More:

In 1989 owners saw a 389 %  increase in maintenance in one year alone! Since then owners have seen many alarming activities at LBC, many of which have been unconstitutional. At the same time many consumers were persuaded to buy into LBC2, a plot of land next door due to be built to even higher standards than the already 5 star LBC, but to this day LBC2 has never been built! In fact the rumour is that the land was never owned by LBC.

Also many owners at LBC and LBC2 were persuaded to join IVC, which has been the cause of many complaints about poor quality accommodation at exorbitant prices.

But in 2000 the management started a campaign to remove all the owners, firstly by increasing annual fees then, in 2003, by demanding massive extra levies with no explanation  and refusal to provide copies of accounts  - with the result that many owners refused to pay and walked away.

Then, on 5th February 2004, the LBC was wound up and all owners lost the rights of use.

As a result some 18,000 people have lost approx. ?150M.

It is rumoured that there are 25 separate allegations including fraud, money laundering and tax evasion and that the Spanish tax authorities are supporting the claim.

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