The owner of a travel club accused of defrauding members has agreed to dissolve his company and not do business in New Jersey.

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New Jersey Attorney General Jeffrey Chiesa announced Friday that Jason Krieck and his Global Travel Solutions L.LC., settled a lawsuit filed by the state in March.

The settlement requires Krieck to stop trying to collect payments from customers, pay $350,000 to the state and post a bond of at least $250,000 with the state if he opens any business that sells merchandise to customers.

He did not admit liability in the settlement.

The state alleged the Bergen County-based club did not provide promised discounts on cruises, airfares and travel packages.

At least 700 people paid between $1,000 and $10,000 plus a monthly fee to become members.

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