Rest Assured Property Services Limited, a company which targeted victims of a previous holiday club scam, has been closed down by the High Court following an investigation by the Insolvency Service.
The investigation found that Rest Assured cold-called members of the Club Class holiday club and offered to sell their memberships to interested buyers, in exchange for an up-front fee of 749.

After the victims paid this initial fee, they received contract papers and then received further telephone calls demanding that they make additional payments of between 960 - 1,460 to enable the sale to progress.

Rest Assured used this method to take 226,000 from its victims but did not sell on a single holiday club membership on their behalf.

The Court heard how the company passed on the money to several individuals, some of whom had no known connection to the company. These people spent the money on flights, hotel bills and designer shopping, including Fred Perry and Jimmy Choo.

In addition Rest Assured failed to pay VAT, despite its turnover appearing to have breached the VAT threshold.

All the known victims of Rest Assured were also all members of the Club Class holiday group, seven connected companies which were wound up in the public interest by the High Court in London on 3 October 2012, following a investigation by Company Investigations of the Insolvency Service.

That investigation found that companies in the Club Class group had targeted consumers whom had been mis-sold timeshares, and used high pressure techniques to convince those consumers to relinquish their timeshares in part-payment for membership of the Club Class holiday club. However, customers found that relinquishing their timeshares to Club Class did not release them from their timeshare charges and they were unable to claim cash back incentives which had been held out to them by Club Class.

Commenting on the case, David Hill, an Investigation Supervisor with The Insolvency Service said:

This company cynically targeted people who had been victims of a previous scam, using slick patter and preying on their desperation to rid themselves of the worthless products they had already been mis-sold.

Putting a stop to these companies protects the public from being ripped off and defends legitimate, decent businesses from being undercut by those not playing by the rules.

The Insolvency Service is determined to take tough action to remove rogue companies from the business environment.