A MAN has been arrested as part of investigation into a timeshare scheme, which may have left hundreds of people out-of-pocket.

The probe followed a complaint about Golden Sands Marketing, based at Horsefair, in Banbury, which offered to arrange timeshare sales for a £1,000 fee.

Police have intercepted more than 100 letters from customers, who are believed to have handed over up to £1,000 but never heard from the firm again.

The company had its post delivered to a firm which rents mail boxes in Horsefair, but letters are thought to have been forwarded to an address in Spain.

Police have sealed the mail box and are now writing to victims about the investigation.

Pc Suzanne Cubitt, based at Banbury police station, said: “We believe people across the country have fallen victim to this alleged scam and are keen to get the message out that timeshare owners are being targeted in this way.”

Meanwhile, police confirmed a 55-year-old Banbury man was arrested on Tuesday on suspicion of conspiracy to defraud and has been bailed until January.

Golden Sands Marketing’s website was still up and running last night, but police confirmed steps were being taken to close it down.

Thames Valley Police launched the investigation in July after a complaint to Bedfordshire Police.

The man who made the complaint had wanted to sell his timeshare and was contacted by a marketing company who told him a buyer had been lined up.

But in order to proceed with the sale, timeshare owners were asked to send a £1,000 administration fee to the company.

Ian Marriott, of Oxfordshire County Council’s Trading Standards Department, urged people to be on their guard against cold callers who were trying to buy or sell timeshares.

He said: “The letters related to around £800 to £1,000 each, and there is evidence of at least 100 letters.

“It is going to be the high end of tens of thousands – that is assuming it is all a scam.

“We are advising people to be extremely cautious if they receive cold calls about selling their timeshare.

“The great majority of these calls are scams. Genuine companies will not ask for fees up front.

“Do not give out bank details or agree to pay advance fees.”

Mr Marriott said trading standards officers could apply to get websites taken down, but that there could be a time delay.

Oxfordshire Trading Standards has passed its files on to the police to investigate.

banbury@oxfordmail.co.uk Anyone worried they may have been targeted should call Trading Standards on 0845 0510845