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Karma Catching up to Westgate Owner David Siegel

Westgate Resort scams are finally catching up with the owner who is now suffering financial woes, chronicled in a new documentary film.

by

Richard Markosian

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Utah Stories began reporting on David Siegel and his timeshare ripoffs beginning before the housing bubble in 2008. At that point Siegal was at the top of the world, looking to post $1 billion in sales with his company Westgate Resorts.

We learned from attending a Westgate Resorts timeshare presentation that his sales associates flat out lied to customers. After we initially wrote this story we received hundreds, of similar stories. It became clear that Siegel and his team at Westgate were selling blatant timeshare rip-offs in a classic bait and switch scheme, using contracts full of gotchas.

Now in a tell-all documentary film “The Queen of Versailles” it appears that karma is striking back and Siegel and his company are getting a bit of the same bitter pill of financial problems they sold  to so many Westgate owners.

Self described by Siegel as a “riches to rags” story, the documentary is released by Magnolia Pictures and earned acclaim at the 2011 Sundance Film Festival winning the award for Best Director. The Siegel’s attempted to build the largest private residence in America a 90,000 square foot monstrosity. But it appears the home was never completed as the Siegels ran into severe financial problems.

We reported on the Planet Hollywood Tower in Las Vegas, this tower was completed but it seems from the film trailer that Siegel is being advised to give the tower up to the bank. From the hundreds of stories we have received regarding the financial hardship these timeshare scams have caused , it’s very nice to see that  not all businesses that prey on people who trust the lies of sales people finish on top.

 

More Stories on Westgate Resorts

Westgate Admits Blatant False Advertising 

Timeshare Ripoff Scam From Westgate Resorts

 

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Richard Markosian

I am a story teller and journalist. I have a passion for farmers, local craftspeople, and folks who aspire to create, build and grow their business in the local marketplace. Why local? By supporting locally-owned businesses we create more opportunity for entrepreneurs, and we claim our sovereignty to shape our communities how we want to see them. I aspire to build Utah Stories Magazine into a household Utah name, and assist Utah businesses and makers with marketing. On the journalism side of things my passion is investigative journalism that offers true insight into issues. I believe strongly in the forth estate: strong, meaningful, insightful journalism is essential to a free market Democracy.

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