A father and son from Nevada have pleaded guilty in Texas over a nearly $7 million timeshare resale scam that bilked about 1,000 people.
Prosecutors in Houston on Tuesday announced the pleas from 51-year-old Ronald Frank Muise and 28-year-old Michael Derek Muise, both of Las Vegas.
The pair pleaded guilty to conspiracy to commit wire and mail fraud. The telemarketing scheme ran almost five years and involved groups known as The Jariv Companies and operations in Houston, Las Vegas, Los Angeles, Chicago and Seattle.
Prosecutors say timeshare unit owners in the U.S. and Canada paid advance fees after being promised buyers. Investigators say the Muises instead kept the money.
A federal judge will sentence the father and son in March. Both face prison terms of up to 30 years.