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Operation Truth or Consequences- From the Bankruptcy Court to the Criminal Court , Consolidated Resorts Exposed, Robert Paisola Reports Live

July 12, 2009
Live from Las Vegas, Nevada by Robert Paisola


Operation Truth or Consequences- From The Bankruptcy Court to Criminal Court. Consolidated Resorts Attempts to use the Federal Bankruptcy Laws to move money, harm over 7000 innocent Americans and unjustly enrich its CEO Arthur Spector, Todd Spector and Attorney Randy Richards.

LAS VEGAS NEVADA – Today the American Public has spoken.

On July 7, 2009 Consolidated Resorts and its affiliated companies made the serious mistake of filing Case 09-22031 in The United States District Court for The District of Nevada.

At that exact moment, This Company whom we at Western Capital ( have been following for over 2 years, finally laid out their cards. They put into writing what they believed would protect them from over 7000 innocent American Victims and over 250 Employees who were merely thrown away as a part of a large scheme to defraud the American Public. The story is long, but is being told on our International Websites including www.ConsolidatedResorts.Info and

This billion dollar fraud involves Goldman Sachs in New York, Arthur Spector of Las Vegas Nevada, Todd Spector of Las Vegas Nevada and Attorney Randy Richards among many others to be named who have acted in a conspiracy to defraud.
Knowing that my Company Western Capital and My Foundation, The Robert Paisola Foundation were watching their every move, this company was so brazen as to look at the American Public and simply say “Go to Hell”

The only time that the company would stop its actions was when confronted with forensic data that was prepared by our offices and many volunteers, including members of the media, members of law enforcement and employees from within this corrupt organization, that absolutely proved that there was a conspiracy to defraud, by selling land that the company did not even own, nor were there any intentions to build property on this useless land as we will describe herein. America was conned by Arthur Spector and his greedy Associates.

The MO of the company was to simply pay “hush money” to those who got too close. We are in possession of many of the “settlement agreements” and copies of checks paid to the people who “Got too close” and we will be publishing them on our national website and the Time Share Chronicles located at www. as well as my personal website at and

This is the factual basis for these statements as presented by a Victim of this scam that was previously released, but is now only the tip of the iceberg:
Consumer Alert / Warning Story – Consolidated Resorts Inc Affiliated with Goldman Sachs Group in Las Vegas, Scams people by Misrepresentation, Breach of contract and Deed Fraud.

"Good Afternoon,
I am part of a group of 51 owners that has formed the Consolidated Resorts Class Action Committee that has come together to take action against Consolidated Resorts Inc because we have been ripped off by this company. We have extensive documentation to prove that Consolidated Resorts misrepresent their property at the time of sale, breach the contract signed by owners by renting out our properties and committed deed fraud by issuing deeds for empty lots. We have tried to work with this company; we have filed complaints to the Better Business Bureau, the Federal Trade Commission and have even hired individual lawyers. We are now presenting our story to you and other Media Organizations for your consideration. So that you can provide a community service and help prevent this from happening to more people.
One thought to keep in mind as you read the information below and consider our request to do a story. The 51 owners that are part of this group are spread over the whole country from different walks of life and we bought our units all at different times but yet we all share a common story. For example we have people from Colorado, Texas, New Jersey, Pennsylvania, Oregon, California, North Carolina, Hawaii, Michigan, Kentucky, Tennessee and Oklahoma to just name a few.

Consolidated Resorts Inc is a Vacation club / Timeshare Company that was founded in 1982 by Arthur Spector in the Hawaiian Islands. June 2007 Goldman Sachs Group Inc’s Whitehall real estate fund said it made a "substantial" investment in Consolidated Resorts. The company and the property ‘Tahiti Village’ is headquartered in Las Vegas, Nevada. "We expect to combine this platform with our extensive resources in Whitehall to continue to grow this business into what we believe will be a world leader in the vacation ownership industry," said Stuart Rothenberg, the Goldman managing director who heads the firm's principal real estate investing unit, in the statement. The company advertises “Vacation ownership done right!” This has been far from the truth for me and the other owners that I have been in contact with. Consolidated Resorts lures its victims to Las Vegas with phony FREE MINI VACATIONS or telling people that they had won a vacation at famous Las Vegas. Once people get there as part of their price or vacation they have to attend a Timeshare presentation, which we were told would be 2 hour. The reality is it is a hardcore sells pitch for 2 to 4 hours if you decide not to buy and a 6 to 9 hour experience if you believe in their lies and buy. I bought based on the information that was presented, which has turned into major lies. Over the last 2 years of ownership, I have never been able to use this property and it has been one problem after another.
To try and keep this email at a reasonable length but present the facts, I am going to outline the issues below.

Consolidated Resorts Inc misrepresented sales presentation by your agent and mangers pursuant to NRS 119A.130 at time of sale using Unfair or Illegal Business Practices. This can be supported by all of the owners associated with this action.

--Deeded timeshare property can be refinanced as any other home or property. This was a total lie. I have contacted several lending companies and none would finance it. This was an important item because of the interest rate that we were being charged, 16%.

--Time share could be rented out. This may be true but if you cannot reserve a week per the contract, how would you rent it out? After 2 years of ownership I have not been able to use it once or lock in a single week.

--Split weeks into 3 or 4 day segments. The sells presentation states that this could be done but when we called and requested it Consolidated said NO.

--Split Time share into 2 units and use separately. One of the main reasons to purchase the larger unit was because it had a lock out and we were told that we could split it into 2 units and use it 2 weeks a year. When I requested this, I was told that this could not be done.

--Phase 2 owners could use Phase 1 with no problems. This was not true. When I contacted them they told me we would have to pay the maintenance fees and an additional fee to use phase 1. We paid the fees only to be told that nothing was available. So now we have been paying maintains fees for 2 years for a phase 1 that we cannot use and phase 2 that is not even built yet.

-- Free trips. As part of the package were given six free trips. After receiving all the information a couple months later we learned that there was major restricts and we could not book more than 30 days in advance before your trip to let you know if it is available.' HOW CAN YOU PLAN A TRIP THAT WAY?? Plus you had to use their travel company for all additional items. If we wanted to book additional people, our 2 children the cost of the vacation would go to more than I could book the same vacation for all 4 would be through a different agency. I was told that adding the kids would be minimal. Another example is they would give us free accommodations but we would have to book airfare through their agents, the airfare was double what other travel company wanted.

--Phase 2 completion date. The contract clearly states that it should be completed in September 2007. I have just received noticed that the Grand opening is in August 2008.

Consolidated Resorts has breached the contract no Rental Policy stated in its “Tahiti Village Plan Purchases Acknowledgment of Representations [1/104] [2].”
As Stated By Consolidated Resorts, Inc in broad terms:

“Neither the Seller, the Sales Agent, nor the Manger [Plan Manger] has any form of rental or resale program….”

It has been made abundantly clear publicly in Consolidated Resorts written agreements that Consolidated Resorts in broad terms, does not have any [ Internet, etc] rental programs.

Consolidated Resorts Inc misrepresented Sales Speech by your assigned agent and mangers pursuant to NRS 119A.130, stating on many occasions that Consolidated Resorts Inc is not in the business of renting rooms to time share owners and Furthermore continuing the same broad, misrepresented sales statement or act within your written agreement providing that your company is Neither in the business of renting its Time Share Accommodations or will provide any form of rental program, pursuant to NRS 150, 152, etc, outside of the ability by individual time share owners themselves. The renting of the owners time share makes the units unavailable to the owners.

Genuine Facts:

n Fact 1 This “No Rental Policy Program” is shown to apply to all Consolidated entities throughout your documents and well understood, over the years, by all persons attending your introduction seminars and by new owners.

n Fact 2 The two Resorts Rental Internet Practice discovered on the Internet web sites are, so far, Expedia and Hotel. Com. This is a Genuine Fact.

n Fact 3 A combinations of past and present accounting and tax records from all parties involved will show Consolidated Resorts Inc has a practicing financial renting relationship and/or business partnership with the above well known rental or for hire Internet Companies. Factual.

n Fact 4 Credit card receipts for guest accommodations within the past five years will verify non-time share holders from its legal Consolidated time share holders. Factual

n Fact 5 The fact that non-time share holder who have rented have interrupted the time share availability at Consolidated Resorts for time share holders usage. Factual

Consolidated Resorts Inc has issued false deeds. For example: my contract with Consolidated clearly states that we purchased into Phase 2 Parcel number 177-04-401-010. This is also recorded at Clark County NV Recorder website. Instrument ID: 20060504-01804 and 20060504-01803. Three parcel numbers that were issued to us. The first number 177-04-401-010 is the main property identifier. The second and third, 177-04-401-013 and 177-04-401-027 identifies the units in the first property. If you look up that parcel on the Clark county Assessor’s page you will find that parcel number 177-04-401-010 is NOT part of the Phase 2 construction. According to the Clark County Assessor’s page Phase 2 is 17704414000.

We have tried to out line the issue briefly and still present all the fact. We will supply statements from other owners to support the misrepresentations, information from Nevada Clark County Assessors offices to support the deed fraud and information showing that Consolidated Resorts is renting out timeshare properties on Expedia. We can also supply letters from Randy Richards, Consolidated Resorts Attorney denying all claims of wrong doing to our lawyers, other owner’s lawyers and to the Better Business Bureau. Mr. Randy Richards has said on recorded conversations and in writing that the victims have a contract and that they must pay; service or no service even if the contract is based on fraud.

Finally We will supply a statement from an owner that made the same claims that we are and a letter from Consolidated Resorts, Randy Richards terminating his contract. All of this information will be updated at
For Constant updates on this case please visit www.Consolidated
Look for more information on our new Facebook Group - Consolidated Resorts Class Action Committee. And as well as and

Because of the wanton dishonest of companies such as Consolidated Resorts, United States Attorneys have created a program called OPERATION TRUTH OR CONSEQUENCES, which has resulted in the filing of criminal charges against 78 individuals in 69 separate prosecutions in 36 judicial districts on a variety of federal bankruptcy fraud and related counts, including 18 cases that were charged by then, Deputy Attorney General Paul J. McNulty

That announcement 2 years ago was the culmination of “Operation Truth or Consequences,” a nationwide sweep that demonstrates the breadth of enforcement actions taken by the Department of Justice to combat bankruptcy fraud and protect the integrity of the bankruptcy system.

Also announced was the creation of a new Internet hotline for reporting suspected bankruptcy fraud to the U.S. Trustee Program, the Department of Justice component that promotes and protects the integrity of the bankruptcy system. Members of the public can now report suspected bankruptcy fraud via email to

“Today we send a clear message to those who abuse, for their own criminal financial gain, the bankruptcy system’s promise of a fresh start to honest Americans.” said Deputy Attorney General McNulty. “A bankruptcy filing is often the last step of a series of criminal acts, including mortgage fraud, bank fraud, mail fraud, money laundering, and government program fraud. Bankruptcy fraud is often the tip of the criminal iceberg, and that makes these prosecutions so important.”

Collectively, the Operation Truth or Consequences bankruptcy fraud sweep includes charges filed against nine attorneys, two bankruptcy petition preparers, and one former law enforcement officer; alleged concealment of more than $3 million in assets; use of false Social Security numbers and false identities; submission of forged documents and use of false statements; defrauding of individuals whose homes were in foreclosure; fraudulent receipt of government loans and benefits; and various other unlawful acts.

“Bankruptcy fraud must not be tolerated, if our bankruptcy system is to serve its purpose of helping the honest debtor in need of financial relief,” said Clifford White, Acting Director of the Executive Office of U.S. Trustees. “Operation Truth or Consequences highlights the commitment of the Department of Justice and our law enforcement partners to vigorously investigate and prosecute bankruptcy fraud wherever it occurs.”

"Today's operation is a comprehensive, nationwide sweep that highlights the scope of bankruptcy fraud and the negative impact on the economy," said Chip Burrus, FBI Assistant Director for the Criminal Investigative Division. "Through our collaborative efforts with law enforcement, the FBI remains dedicated to pursuing those individuals who attempt to use our Nation's bankruptcy system to further their criminal intents."

Operation Truth or Consequences is a joint criminal enforcement effort by the U.S. Attorneys’ Offices, U.S. Trustee Program, FBI, Department of Housing and Urban Development Office of Inspector General, Social Security Administration Office of Inspector General, U.S. Postal Inspection Service, Internal Revenue Service Criminal Investigation, and U.S. Secret Service.

The charges contained in an indictment, information or criminal complaint are merely allegations, and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.
Robert Paisola is the President and Chief Executive Officer of The Western Capital Group of Companies; including Western Capital Multimedia, The Robert Paisola Foundation and many other worldwide organizations.

Media Contact Dr. Christian Todd
Direct to Mr. Robert Paisola 801-671-7843 in Las Vegas Nevada

Copyright 2009 Western Capital Multimedia Inc.

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