Timeshare company to pay up to $5.4 million for false statement to customers

SAN DIEGO (CNS) - A local timeshare company has agreed to pay up to $5.4 million to settle a consumer protection lawsuit alleging false promises were made to customers during sales presentations, the San Diego County District Attorney's Office reported today.

Welk Resorts will pay $2 million in penalties and up to $3.4 million in restitution to timeshare purchasers who were told various things during presentations held between Jan. 1, 2011 and March 31, 2016, according to prosecutors, including that customers were buying real estate, that the value of their investment would increase and that t...