Nostos Holiday Village Club in Skiathos-Timeshare Scam???

Hello fellow bloggers!
My In-laws have fallen foul of what I believe to be a Timeshare Scam at the Nostos Select Holiday Village Club* in Skiathos.
On June 10th 2007 they were subjected to four and a half hours of presentation, viewing and form filling. When my father-in-law's credit card was 'not accepted' by their card reader, he was escorted to his apartment to collect his debit card, then returned to the Resort.

They were constantly told this was not a 'Timeshare Scheme' however, The Organisation for Timeshare in Europe (OTE) which regulates this company clearly indicates *NSHVC is a timeshare scheme. My In-Laws are pensioners in their late sixties and are not in the best of health. This company has £3000 (pounds) of their limited savings which they can ill afford to loose. Both are severely distressed. They realised they had made an error, but were told NO cancellation 'cooling off period' was available.
I have found information on the OTE and other websites, which clearly shows this company is in contravention and violation of EU directives and the OTE's Ethical and Code of Conduct regulations. But I need your further assistance in claiming a full refund.

Has anyone experienced or know of Reports, Reviews or Articles on the internet concerning problems with this company, and its holiday vacation club scheme? Many thanks, Marts.