Subject: Swiss American Bank

DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION
Jeb Bush, Governor Cynthia A. Henderson, Secretary

David Henry

E-Mail Address:
Re: File Number
Swiss American Bank

Dear Mr. Henry:

The Bureau of Timeshare received your letter regarding the resale of your timeshare week. The Bureau regulates the creation, sale, and operation of timeshare plans in the state of Florida, under Chapter 721, Florida Statutes; the Florida Vacation Plan and Timesharing Act. The Bureau's jurisdiction is limited to the provisions contained in the statute.

In response to previous consumer complaints received by the Bureau concerning Swiss American Bank, the Bureau conducted an investigation of the company for compliance with chapter 721, F.S. The investigation was concluded after it was determined that the timeshare resale activities of Swiss American Bank do not appear to come within the scope of any of the statutes enforced by the Bureau of Timeshare under chapter 721, F.S.

Please understand that our inability to investigate your complaint further is due to the limits of the Bureau's regulation authority under chapter 721, F.S., and is not due to a lack of concern for your situation.

However, as a courtesy we have forwarded a copy of your complaint letter and any documents that you provided, to the Florida Department of Law Enforcement, in connection with their investigation of possible criminal law violations. You can contact them by writing to: Florida Department of Law Enforcement, Suite N201, 400 West Robinson Street, Orlando, Florida 32801.

It is also the Bureau's understanding that Swiss American Bank is being investigated by Florida banking regulators, for the company's use of the name "bank" in their name, when apparently the company is not a bank.

The U. S. Postal Inspection Service is also conducting an investigation of Swiss American and International Appraisals. You may contact them at:

    Agent S. E. Souza, U.S. Postal Inspector
    U.S. Postal Inspection Service, Providence Domicile
    P.O. Box 6866
    Providence, RI
        02940
-6866

    Phone: 401-276-6930, Fax: 401-351-2950.

In an effort to assist you further, enclosed is general information concerning reselling a Florida timeshare interval. You may also find helpful information on our website at  http://www.myflorida.com/myflorida/business/learn/realestate/timeshare/. This is provided to you for information purposes only.

Thank you for contacting the Division of Florida Land Sales, Condominiums and Mobile Homes, Bureau of Timeshare.

Yours truly,

Sheila Norris, Administrative Assistant
for Daniel F. Hogan
Supervisor Enforcement Section Bureau of Timeshare

/sn

Encls.

cc: FDLE
 
 

DIVISION OF FLORIDA LAND SALES, CONDOMINIUMS AND MOBILE HOMES
BUREAU OF TIMESHARE - ORLANDO REGIONAL OFFICE
MAILING ADDRESS:
    400 W. Robinson Street Suite N-509
    Orlando, Florida
        32801

Telephone (407) 317-7225 Fax (407) 317-7230

INTERNET ADDRESS:  http://www.myflorida.com/myflorida/business/learn/realestate/timeshare/