State Sues Cape Cod Timeshare Developer
Suit Claims Robert Reposa Owes $1.5M To Consumers
POSTED: 5:31 pm EDT April 15,
2009
UPDATED: 6:41 pm EDT April 15,
2009
BOSTON -- More than a year after Team 5 Investigates first reported on complaints about a Cape Cod timeshare developer, the Massachusetts attorney general filed suit Wednesday against Robert Reposa. The civil suit alleges Reposa, of Hingham, Mass., took more than $1 million in deposits for timeshare units that were never developed and that he violated the consumer protection act and the real estate timeshare act. “He knew that the project was failing and financing was a problem,” said attorney general Martha Coakley. Yet, she said, Reposa “continued to take money and get people to pay up with the idea they'd get a discount when in fact, realistically, the project wasn't going to be completed.”Coakley credited Team 5 Investigates reporting with prompting a year long investigation. She said it initially started with a few consumer complaints, and quickly expanded.“Over 100 consumers in this instance gave over $1.5 million,” she said. Several consumers named in Team 5 Investigates reports and in the state’s lawsuit claim to have lost tens of thousands of dollars.It’s unclear if there is any money left that could be used as restitution to the dozens of consumers who gave Reposa deposits for Navigator Beach Club Resort Condominiums in Falmouth. Records show that in 2008, Reposa’s wife transferred ownership of their home to SRR Revocable Trust. The home is assessed at $1.8 million.“We have some opportunity through this filing to determine whether there are assets that may be available to pay restitution should he be found responsible in court for these acts,” said Coakley."We lost a $10 million line of credit. That's why this happened," Reposa told Team 5 Investigates Kelley Tuthill."Nothing was intentional,” Reposa added. “We feel horrible (sic) and are doing everything to rectify the situation."Reposa told Tuthill he has a pending lawsuit against his former attorneys.Those who claim to be Reposa's victims have set up a Web site to share information.
Previous Stories:
- October 23, 2008: Bank Forecloses On Cape Cod Timeshare
- April 16, 2008: Cape Timeshare Developer Faces New Wave Of Trouble
- February 10, 2008: Tidal Wave of Complaints Hits Cape Cod Timeshare
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