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  1. #1
    Join Date
    Dec 2006
    Posts
    9

    Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    Warning!!! Run the other way from anything to do with this guy and anything he is involved in. Michael Kelly and his RHI/Resort Holdings International in Cancun, Mexico is scam and rip off. There are also many other names and programs he is using to relieve many of their money. I have been two years trying to retrieve my parents money from this guy and it was all they had. Please be warned, this guy is not legit and it out to take advantage of whomever will let him. Other names for his shinanigans are; Yucatan Resorts Inc., Yucatan Resorts, Resort Holdings International Cancun, Resort Holding International Panama and Michael E. Kelly

    See the below links for more info.

    http://streettalkblog.com/?p=113#more-113

    http://www.ripoffreport.com/reports/ripoff209377.htm

    http://www.lawyersandsettlements.com...rt_investments

    http://www.thetimesharebeat.com/stre.../june27-03.htm (scroll down too Mexico section to read about Mike Kelly)

    http://www.bizjournals.com/phoenix/s...6/daily27.html

    http://home.att.net/~fcwriter/news109.htm

    http://www.investmentloss.com/rhi.htm

  2. #2
    Join Date
    Dec 2006
    Posts
    9

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    News Flash! Mike Kelly arrested by FBI in Jacksonville, FL. Friday.

    http://www.chicagotribune.com/news/l...1,636967.story

    Mexico hotel owner charged in swindle of time-share leases
    By Rudolph Bush
    Tribune staff reporter

    December 28, 2006

    FBI agents have arrested an American hotel owner on charges he ran a $400 million pyramid scheme through the sale of time-share leases in Mexico.

    Michael E. Kelly of Cancun was arrested Friday in Jacksonville, Fla., and charged with cheating hundreds of investors, including several from Illinois.

    According to a criminal complaint released Wednesday, Kelly sold "universal leases" on Mexican time shares to investors who thought they would get return rates of up to 11 percent.

    Kelly, 57, purportedly told the investors that an independent third-party company would rent their time shares. He promised that the investors would receive high returns even if their properties weren't rented, the complaint alleges.

    In fact, Kelly owned the third-party companies and controlled the returns provided to investors, authorities allege.

    An attorney for Kelly could not be located Wednesday. He is in custody in Florida and is expected to come to Chicago for an initial appearance at a future date.

    According to authorities, Kelly's scheme netted some $400 million from investors from 1997 to March 2004.

    During that time, he owned five hotels in Mexico and one in Panama. Time shares at the Mexican hotels were used to further the scheme, authorities allege.

    Although many investors initially did receive returns on their leases, the scheme collapsed when several states cracked down on Kelly's operation and new investors from the U.S. dried up, authorities allege.

    Meanwhile, Kelly used the proceeds of the scam to pay for a lavish lifestyle that included a private plane, a yacht and Cancun homes for himself and three children, authorities allege.

    He also bought a luxury car dealership in Georgia that required regular infusions of cash to stay afloat, according to the criminal complaint.

    Once the bottom dropped out, investors stopped receiving any returns and began asking for their money back.

    One victim in Illinois took a reverse home mortgage to fund a $100,000 investment in the time-share scheme. Another put $500,000 of his own money and $305,000 of his mother's into Kelly's time-share business.

    Someone working for one of the purported third-party companies told another investor that the chance of getting any money back was "slim," the complaint alleges.

    ----------

    [email protected]
    Copyright © 2006, Chicago Tribune

  3. #3

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    I'm beginning to get really frustrated with this board! It runs me in circles!

    I'm one of the people that got ripped off. All I want to know is what do I have to do to get my money back. If I can't get my money back, with interest, then I wish to chop both the guys hands off, and make him eat them.

    As a result of his fraud, I'm in the middle of a personal bankruptcy, and I want some satisfaction, one way or the other! And I'm positive I'm not the only person in this bind. I want at least $300,000.00 plus interest at the rate of at least 3%/yr for a minimum of 7 years, as that's what me and my family is out.

  4. #4
    Join Date
    Jan 2007
    Posts
    2

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    Michael Kelly appeared at his detention hearing in Chicago today. He was denied the right to bail since he has no assets in the US and is a flight risk. The case against him is overwhelming and he is facing 53 years in jail for defrauding thousands of retirees. He actually had the nerve to state that he only makes $55,000 a year and has a meager $48,000 in assets. There is more information at this page http://www.lesliestipek.com/michaelekelly.asp

  5. #5

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    I am affiliated with a law firm that represents investors in schemes like Resort Holdings. We are investigating this scheme and looking for possible avenues for investor recovery.

    If anyone could point us to a good, detailed source of information (i.e., parties involved, middle-men such as salesmen, brokers, other related parties), as well as more info about the scheme, we'd appreciate it. You can reply to this post, or contact us via email at investmentlawfirm_at_gmail.com ([email protected]).

    Thank you.

  6. #6
    Join Date
    Jun 2006
    Posts
    3,120

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    Quote Originally Posted by investmentlawfirm
    I am affiliated with a law firm that represents investors in schemes like Resort Holdings. We are investigating this scheme and looking for possible avenues for investor recovery.

    If anyone could point us to a good, detailed source of information (i.e., parties involved, middle-men such as salesmen, brokers, other related parties), as well as more info about the scheme, we'd appreciate it. You can reply to this post, or contact us via email at investmentlawfirm_at_gmail.com ([email protected]).

    Thank you.
    Be careful with this poster. Law firm that can not afford more than gmail account is highly suspicious. They also do not mention their name and it is another red flag. Could be a scammer trying to scam already scammed people.

  7. #7

    Re: Mike Kelly and Resort Holdings International/RHI Cancun Mexico Rip Off

    I don't know about this one, but I know of an opportunity that has been around for over 17 years and provides excellent income, training and support. For more information, visit www.PowerToProduceWealth.biz and www.SixFigureIncomeSchool.com. Learn how to change YOUR financial future at these website links! I did and it changed my life!

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