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.
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