US Sanctions People, Companies Linked to Mexican Timeshare Fraud
The Office of Foreign Assets Control this week sanctioned four people in Mexico and 13 Mexican companies for their involvement in timeshare fraud led by Cartel de Jalisco Nueva Generacion, a criminal group labeled a foreign terrorist organization and specially designated global terrorist by the Trump administration earlier this year (see 2502200019). OFAC said they work out of Puerto Vallarta, a popular Mexican tourist destination, and help to supplement the cartel's drug-trafficking revenue through timeshare fraud and fuel theft.
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The designations target the three senior cartel members who the agency said are "most involved" in timeshare fraud: Julio Cesar Montero Pinzon, Carlos Andres Rivera Varela, and Francisco Javier Gudino Haro. They also have been part of an "enforcement group" based in Puerto Vallarta that assassinates rivals and politicians for the gang, OFAC said. In addition, the agency sanctioned Puerto Vallarta native Michael Ibarra Diaz Jr., who's an "ostensibly legitimate businessman" who helps the cartel with timeshare fraud.
The U.S. sanctioned 13 businesses that make up Ibarra's "corporate network": Akali Realtors; Centro Mediador De La Costa, S.A. de C.V.; Corporativo Integral De La Costa, S.A. de C.V.; Corporativo Costa Norte, S.A. de C.V.; Sunmex Travel, S. de R.L. De C.V.; TTR Go, S.A. de C.V.; Inmobiliaria Integral Del Puerto, S.A. de C.V.; KVY Bucerias, S.A. de C.V.; Servicios Inmobiliarios Ibadi, S.A. de C.V; Fishing Are Us, S. De R.L. de C.V.; Santamaria Cruise, S. de R.L. de C.V.; Laminado Profesional Automotriz Elte, S.A. de C.V.; and Consultorias Profesionales Almida, S.A. de C.V. OFAC said those companies either work in the timeshare and real estate industry, operate as tour companies or provide auto or accounting services.