State recovers $1.2 million in time share settlement
Sep 12, 2013, 11:34 AM | Updated: 1:07 pm
The state has settled a nationwide timeshare scam involving an Olympia couple, recovering more than $1 million for Washington victims.
The State Attorney General sued Jonathan and Christine Gibbs, accusing them of a complex scheme to transfer timeshares from owners who wanted to sell.
The attorney general’s office claimed that Jonathan Gibbs fooled consumers into paying them thousands of dollars in up front fees to transfer ownership of their vacation timeshares to his shell corporations.
Attorney General Bob Ferguson announced Thursday that it has recovered $1.2 million from Gibbs, who along with his wife, Christine, had claimed to handle over 30,000 timeshare transfers across the country.
The settlement will mean restitution of between $1,000 and $20,000 for at least 1,500 victims in Washington, according to Ferguson.
Ferguson’s office said that Christine Gibbs denied any wrongdoing and cooperated by agreeing to facilitate the return of timeshare properties. In exchange, she was dismissed from the case. Jonathan Gibbs also denied any wrongdoing. Besides paying restitution, Jonathan Gibbs agreed not to sell or buy timeshares or travel-related products.
