Silverpoint CEO Mark Cushway – Day Of Reckoning

MR MARK CUSHWAY & SILVERPOINT SL TO FACE THEIR DAY OF RECKONING

It is reported that Silverpoint’s CEO Mr Mark Cushway is now before the Spanish Courts to give account of Silverpoint’s timeshare selling activities. Once known as Resort Properties and latterly Silverpoint SL, the organisation have now been called to account.

Praetorian have many Resort Properties/ Silverpoint clients who have been systematically sold tens of thousands of pounds of timeshare by this organisation. One of our clients have spent their entire life savings with this organisation and have absolutely nothing to show for the monies spent. This particular client spent nearly £ 80,000.00 over a twenty year period. Their first encounter with Resort Properties goes back to 1990 when they purchased one timeshare on the Beverley Hills Heights complex and from then on these poor people were systematically sold over 15 other timeshares with occupancy for over 25 people.

These were two senior citizens in their 60s when they purchased their first timeshare. They were looking forward to a comfortable retirement with enough money in the bank to see them through their twilight years until that is they came into contact with Mr Cushway’s organisation. Sadly, one them died of Alzheimer’s in 2007 and the spouse was left alone to resolve the financial turmoil she found herself in after years of dealing with Resort Properties/ Silverpoint.

It should be noted that in 2007 the year of one of our client’s death they had been sold 5 timeshares with an occupancy for 28 people, this is two senior citizens one of them now 72 years old and in the latter stages of Alzheimers. It should be noted that nearly all of these purchases were initially financed by Barclays Partners, Clydesdale Financial Services and HMC Financial Services all of whom financed Mr Cushway’s sales operation by way of providing consumer finance to people purchasing Silverpoint’s timeshare.

Between 2010 and 2011 Silverpoint were in contact with the now widowed spouse to sell her more timeshare. During this period Silverpoint exchanged 7 timeshares and sold a further 2 timeshares to our client taking another £ 39,000.00 from her advising her that she was now making an investment that would recoup all of her past losses back and put her in profit. Once again financed by Barclays Partners and HMC Financial Solutions. This is a widow in her seventies with no income and very little capital left from many years of buying Silverpoint timeshare being given finance by Barclays Partners. It begs the question what kind of lending criteria and financial risk assessment do these financial organisations have?

The losses to our client have been substantial and life changing by the fact that she now finds herself in fear of having to sell her home to survive. How can this be fair and just and how can Mr Cushway defend the actions of his organisation when faced with stories like this. One would hope that Mr Cushway and his organisation will now face the full force of the Spanish justice system if he is found to be guilty of these civil wrongdoings.

It is interesting to review Mr Cushway’s bullish statement which can be seen here>>

http://tatoc.co.uk/images/emilyfiles/markcushwaystatement2.pdf.

We believe the statement was made by Mr Cushway whilst facing the mounting pressure of the court case against him. It would appear that at the time of making his statement he was rather dismissive of any case against him but as we fast forward to the present day we could say he is now ‘eating his words’. He now finds himself firmly in the dock answering questions that he thought he would never have to answer. We are lead to believe he has escaped two previous legal actions against him so let us hope this is third time lucky.

It is also noteworthy that TATOC the timeshare consumer champions appear to have an admiration for Mr Cushway and his organisation. This appears to be a cosy little relationship and well documented upon the world wide web. You will appreciate that TATOC are the consumers ‘elected’, yes, ‘elected’, timeshare owners representatives and they fight for your rights. TATOC are to timeshare what Batman is to Gotham City!  If we were to believe the rubbish TATOC put out but we don’t.

Therefore, should Mr Cushway and his organisation be found guilty of the alleged wrongdoings within the timeshare industry we look forward to seeing and reading TATOC’s disapproval and them distancing themselves from his rogue organisation. We wonder if we will see TATOC attacking Mr Cushway and Silverpoint and publishing buyer beware warnings- or as we say in the legal professional ‘caveat emptor’. TATOC are very quick to jump onto the timeshare scammers and offenders so we will await the Cushway verdict with baited breath!

For our clients and in particular the client to whom we refer to above we have now intimated claims and complaints direct to the financial organisations involved and we are awaiting their response to our claim. If you have been a Resort Property, Silverpoint or Mr Cushway victim then we want to hear from you.