Police said today that they were continuing to investigate a timeshare firm which has links to Oxfordshire but is based in Spain.

Officers are issuing a renewed warning to timeshare owners not to fall for the scheme, which is being operated by Golden Sands Marketing.

Police said the firm, which gave its correspondence address as Horsefair, Banbury, had been cold-calling people wanting to sell their timeshares, telling them a buyer has been lined up.

Owners are then asked to send an administration fee of £1,000 to proceed with the deal. Some owners have even been invited out to Spain to meet the buyers, which is a ruse to obtain more money.

Thames Valley Police officers have intercepted more than 130 letters sent to the mailbox in Banbury from people who have been duped out of money.

The victims come from across the country including Oxfordshire, Bristol and Northamptonshire. Many of the victims have lost thousands of pounds.

Officers have closed down the mailbox and have been working with the Serious Organised Crime Agency to try to close down the firm’s website, as well as liaising with the authorities in Spain.

PC Suzanne Cubitt, of Banbury police station, said: “Golden Sands Marketing is continuing to operate and dupe people into believing that a buyer has been lined up for their timeshares.

"People are still being convinced that this is a genuine company, which it is not.

“Despite closing the mailbox down in Banbury, we have not yet been able to shut down the website, which is now advertising a telephone number that connects directly to Spain.

“Please be aware that a company can purchase or rent a phone number with most local dialling codes to make it appear they have an office based in a town or city. This number can be redirected to another telephone number, which could be answered anywhere, so don’t take numbers at face value.

“Our investigation is continuing and further arrests are planned.”

A 55-year-old man from Banbury remains on police bail after being arrested on suspicion of conspiracy to defraud in September. He is due to answer bail in January 2011.

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  • For advice from trading standards call 0845 051 0845 or for more information on selling timeshares visit the Timeshare Consumers Association at www.timeshare.org.uk