Man sentenced for timeshare fraud

Published On: Dec 17 2012 11:12:09 AM EST

MIAMI -

A Boca Raton man is sentenced to 12 years and 7 months in prison for committing timeshare fraud, the U.S. Department of Justice announced Monday.

Frank DeFilippo, 45, was convicted of conspiring to commit mail and wire fraud.

DeFilippo organized a boiler room in which telemarketers negotiated to purchase victim-owned timeshares if the victim paid them an advanced fee to cover such things as a title search, according to a news release from the U.S. Department of Justice. This fee ranged as high as tens of thousands of dollars. The victims were also told that this fee would be refunded to them at closing together with the money the conspirators were to pay them for the timeshares. None of these purchases ever occurred. 

In total, the conspiracy victimized over 1,000 people, many of whom were senior citizens, and cost the victims, in aggregate, of more than $2.5 million, said the U.S. State Attorney's Office.