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It has been described as one of the largest scams of its kind in the Britain.

Altogether 14 individuals have been convicted for their role in a multi-million pound scheme to defraud in excess of 3,500 vacation property investors.

The affected individuals were eager to get out of age-old vacation property deals and sought out help.

A large number were from 60 and 80. More than 500 of them parted with more than £10,000, and one individual paid more than £80,000.

Those targeted were subjected to aggressive consultations lasting up to six hours. They were financially worse off, possessing useless fake "rewards" and still locked into high-priced timeshare contracts they often use.

The Firm Behind the Scam

The firm at the heart of the scheme was the timeshare resale company. They took customers' funds to fund the directors' luxurious lifestyle of exclusive education, luxury homes and exclusive air travel.

The individual at the head of the firm, the main defendant, was sentenced to a seven and a half year prison term in January for deceptive scheme.

Recently, his spouse Nicola was one of the final three to receive sentencing.

She was given a 24-month deferred imprisonment at the judicial venue after confessing to money laundering.

It has been a lengthy process and marks a huge win for the victims who came forward, the authorities and legal representatives.

How the Probe Began

I first heard about SMT was in the summer of 2016. I was working in the investigations unit of a media outlet, producing documentary shows.

A friend mentioned that his parent had assumed the rights of a holiday property in Spain and, after long-term use, had begun looking to terminate the agreement.

It's worth mentioning how widespread holiday ownership had grown with British holidaymakers in the eighties and nineties.

Holiday ownership enabled families to access the identical property every year, or trade their weeks with additional holders who had properties in alternative destinations. Approximately 600,000 vacation seekers accepted that option.

The early surge was linked to a numerous accounts about unscrupulous sellers deceptively promoting investments. They appeared frequently on consumer broadcasts.

The common holiday ownership agreement bound owners for long periods.

By 2016, those holders who had used their regular accommodation in the sun for decades were ageing, and many were hoping to wave goodbye to their vacation investments.

A number had declining mobility and were unable to visit their apartments. A few just believed they'd enjoyed sufficient use from them. And some had passed away, in numerous instances passing on their loved ones to assume the agreements - including their yearly fees and service charges.

The Covert Probe Develops

This was the situation the friend's mum had been placed. She browsed the internet for options and found SMT, a firm whose online presence promised to terminate her contract.

Yet, having submitted funds and booked a meeting with them, her relatives had doubts.

Subsequent checking revealed hundreds of people reporting they had paid money and achieved no result in return. Actually, they had lost money. A lot of it.

Our team began investigating what was going on. It soon emerged that there were some shady characters active in the timeshare resale sector.

A legal professional had numerous client reports aiming to litigate against SMT.

We spoke to individuals who had engaged the company and they each reported similar experiences. They believed the firm would buy their property off them but when they participated in a session (for which they made an advance payment) they were told there was no re-sale value.

Rather, they were pushed - in fact pressured - to commit further cash investing in "the firm's incentive scheme", named after the outfit's parent company, Monster Travel.

What exactly these were was somewhat vague. They appeared to be a kind of currency, providing discount travel and amenities and consumer discounts.

And they were seemingly "transferable with additional holders, at a future date.

Investing money up front now would result in an long-term benefit that would offset SMT's fees and result in the property owner with a gain, liberated eventually from their pesky contract.

An unrealistic promise? Certainly, that proved correct.

A 'Bait-and-Switch Scam'

Based on these descriptions were correct, this was a large-scale fraud.

The technique is termed a "misleading sales."

An operator - here SMT - "lures the client by marketing a specific service only to then say that's not available, steering the individual towards another, inferior product or service.

Such practices are unlawful. Equipped with all the evidence we had assembled, we presented the rationale to covertly record one of the firm's consultations.

Such an operation demands time, effort, and compelling reasons for why this is the only way to gather the data needed to confirm deceptive practices.

With approval secured, our small team set up a consultation with one of the firm's agents in Stratford-Upon-Avon.

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