Chateau World Scam

[darklord700]

http://www.calgarysun.com/2011/08/02...med-in-canmore

I can't believe the government allowed them to be in business for this long before shutting them down. I was at one of the presentations and it was high pressure all the way. We had to fight out way through to leave and get our camera (or was it DVD player?).

Their office was at a complex just off to the side of Mcleod and they built it up as some tropical paradise.

[ken0042]

Originally Posted by darklord700

Their office was at a complex just off to the side of Mcleod

Wow- I guess that means I also attended. Very high pressure and the "digital camera" they promised turned out to be a toy camera. The "pictures" it took were terrible; I took a picture of my car and it was so bad you couldn't make out what kind of car it was.

That left such a bad feeling with me that made me wonder if it was some sort of scam.

[Bertuzzied]

well at least you guys only lost your time and not your money.

I can't believe so many of my idiot friends didn't listen to me and bought Concrete Equities.

and they lost so much money i can't even pull the "i told you so" argument on them.

[darklord700]

On the flip side, I know someone who used to sell one of these condo/land investment deals that eventually went belly up.

He told me it's guaranteed that I'll make 25% in 2 years, blah blah blah.

I said no one can guarantee 25% return in 2 years. He said this is legit, they already have buyers lined up to flip the investment to in the next couple of months. And I said, if you have buyers lined up already and this was a sure thing, when didn't the company invest in it and make the 25% themselves instead of letting me profit from it?

The sad thing is, he actually believed in it and even bought some himself. And someone I know bought some from him as well. Needless to say, no one brought up this deal in our conversation anymore nowadays.

[Ashartus]

I went to one of their presentations in exchange for a free 2-night stay at the Banff Gate Mountain Lodge - but we knew going in that we weren't going to fall for their line, and once you start pointing out flaws and falsehoods in their pitch in voices loud enough for others to hear they don't exactly pressure you to stay around. It was just a way for my wife and I to get a really cheap vacation in Banff.

[Robbob]

I think governemnts need to look at all time shares.

A little off topic but if they sell a time as property can the people at least write off the loss on taxes? I know it isn't much but would probably be better then nothing.

[afc wimbledon]

Originally Posted by Ashartus

I went to one of their presentations in exchange for a free 2-night stay at the Banff Gate Mountain Lodge - but we knew going in that we weren't going to fall for their line, and once you start pointing out flaws and falsehoods in their pitch in voices loud enough for others to hear they don't exactly pressure you to stay around. It was just a way for my wife and I to get a really cheap vacation in Banff.

Used to do this all the time, after the presentation when they send out the salesmen to your table they ask 'well what do you think' or some opening line line like that I would always reply ' do you think I look stupid enough to invest in a craphole like this, what kind of ****tard do you take me for?'
Generally got booted out of the 'presentation' after that.

[Domoic]

Originally Posted by darklord700

I said no one can guarantee 25% return in 2 years.

[MoneyGuy]

Originally Posted by Bertuzzied

well at least you guys only lost your time and not your money.

I can't believe so many of my idiot friends didn't listen to me and bought Concrete Equities.

and they lost so much money i can't even pull the "i told you so" argument on them.

One of my clients in Calgary took their RRSP money and bought into Concrete Equities. They were seduced by empty promises and we all know how that turned out. I feel sorry for them.

[fredr123]

Originally Posted by Robbob

I think governemnts need to look at all time shares.

A little off topic but if they sell a time as property can the people at least write off the loss on taxes? I know it isn't much but would probably be better then nothing.

There are some regulations already under the Fair Trading Act: http://canlii.org/en/ab/laws/regu/al...-105-2010.html

[Robbob]

Originally Posted by fredr123

There are some regulations already under the Fair Trading Act: http://canlii.org/en/ab/laws/regu/al...-105-2010.html

That helps a little but I heard another time share compnay operating out of BC and Alberta that over extended themselves and essentially went bankrupt. I guess a lot of people lost out on that one.