New crop of timeshare scams target sellers looking for cash

Getting rid of a seldom-used timeshare might sound like a way to get cash, but attorneys general in two states warn not to get ripped off by the latest scams.

A timeshare scheme that has rooked dozens of consumers since January prompted a consumer warning from Illinois Attorney General Lisa Madigan (pictured). Here's how it works: Con artists call the owners and claim to have a buyer for the timeshare and present fake documents to appear legitimate. If the seller takes the bait, the scammer asks for a refundable security deposit or fee to ensure the sale goes through, and instructs them to wire money to an out-of-state bank account.