Dennis Wagner
The Arizona Republic
Oct. 20, 2005 12:00 AM
A Gilbert man convicted of defrauding time-share owners was sentenced Wednesday to more than eight years in prison for bilking about 2,000 victims.
Ingo Melvin Rewald, 51, was ordered to serve the prison time by U.S. District Judge Frederick Martone after pleading guilty in April to mail fraud, according to federal prosecutors.
Rewald admitted that from 1998 to 2003 he operated three companies - Aventure-Time-Marketing, TimeShares-R-US and Condos-R-US - in connection with the scam.
Using an assumed name, Rewald contacted victims and told them he would connect them with a buyer for their time shares in return for a $395 finder's fee. There were no buyers, and he collected the funds via postal boxes.
For sentencing purposes, the judge ruled that Rewald had taken in up to $1 million. The defendant was ordered to pay $264,412 and serve three years of probation.
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