Fraud & Embezzlement

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Fraud and Embezzlement in Your Association-How to Spot It & How to Avoid It

We aren’t the only ones that have seen this in the news week after week! It has happened; there are funds missing from the checking account. Figures do not line up and you cannot get in touch with anyone. The

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Ex-manager at Sun City retirement complex in Indio arrested in embezzlement investigation (CA)

The former general manager of a massive Indio retirement community was arrested on Dec. 6 on suspicions of embezzlement.  Ceasar Larrach, 46, was an employee of the housing management company Associa working at Sun City Shadow Hills in Indio, a

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Former HOA president accused of stealing nearly $10K from association (TX)

Nathaniel Hurt, the former president of the Cole’s Crossing Homeowner’s Association in Cypress, is accused of stealing nearly $10,000 from the HOA.  According to court papers, Hurt had the HOA’s management company reimburse him directly for nearly $10,000 he claimed

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Home Sweet Home

Sunset Villas is a condominium complex with fifty units on the shores of Lake Michigan. Owners pay $550.00 a month in dues towards neighborhood and maintenance, including the upkeep of the pool and common areas. When the owners hired a

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Community Next: Homes of the Future

Community Next: Homes of the Future is the latest milestone in CAI’s Community Next series, which offers industry insight to empower community association volunteers, managers, and business partners with a strong understanding of how to preserve, protect, and enhance common-interest communities.  This Fall

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Woman ordered to pay $66K in restitution in theft case (NH)

An Intervale woman has been sent to jail and ordered to pay more than $66,400 in restitution to a local condo association as a result of pleading guilty to theft.  Lynne Barry, 54, pleaded guilty to misdemeanor theft by unauthorized

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Former condo manager awaits sentencing in skimming case (IL)

A Chicago man who was accused of skimming more than $1 million from dozens of North Side condo associations has pleaded guilty to mail fraud and is to be sentenced in January.  Alan Gold, who managed A.P. Gold Realty &

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Charleston accounting manager charged with embezzling more than $750,000 (SC)

An accounting manager accused of embezzling from her Charleston employer was in court asking for a public defender Thursday, after federal prosecutors accused her of depositing more than $750,000 in two unauthorized bank accounts.  There was no clue what became

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Former Albuquerque HOA President charged with embezzlement, forgery (NM)

Residents in a small pocket of Albuquerque claim one of their neighbors has been quietly pocketing their money for years. Now, the alleged victims hope a fresh look at the case may bring about some justice.  There’s something bothering a

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Condominium Workers Charged with Theft in Wake of New Fraud Law (FL)

Changes in condominium association laws that were recently enacted with an aim to curb fraud in associations seem to have had a strong impact in increasing the general awareness of the problems facing Florida condo communities. A few major media

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Homeowners accuse private community of financial fraud, illegal marketing (NY)

Homeowners are accusing a private, upscale community in Central Valley of financial fraud and illegal marketing practices.  Homeowners in Woodbury Junction claim that the complex’s financial records are being kept secret and new homes are being marketed to buyers based

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Ways to Detect and Prevent HOA Embezzlement

Theft is something community associations hope to never encounter, but a volunteer organization like an HOA can often be a soft target for fraud. Here are the common warning signs of embezzlement and the ways to protect your HOA from

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Indio police investigating $110K in ‘financial discrepancies’ at Sun City retirement community (CA)

The Indio Police Department is investigating a tip from a massive Indio retirement community after its management company found “financial discrepancies” of $110,000 that they said were connected to a former employee.  Sun City Shadow Hills in Indio is a

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Former HOA treasurer indicted on theft, fraud charges (AZ)

A former HOA treasurer was arraigned Tuesday after being indicted on 16 counts of fraud, theft, forgery and computer tampering.  Wendell Odean Byram, 80, is accused of stealing more than $204,000 from the Canoa Seca Estates II homeowners association from

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Scam overbilled companies in downtown’s SunTrust Tower, ends in fraud guilty plea (FL)

A Ponte Vedra Beach businessman pleaded guilty Wednesday to collecting hundreds of thousands of dollars in kickbacks on maintenance fees charged to businesses at the SunTrust Tower in downtown Jacksonville.  Ashish Bahl, 52, could theoretically face up to five years

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Rockville HOA Under Investigation After More Than $100K Missing (MD)

A homeowners association in Rockville, Maryland, is under investigation after a report of more than $100,000 missing from their coffers.  Rockville police said they opened an investigation in August into the King Farm HOA and want to talk to a

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Egg Harbor Township man accused of stealing $350K over seven years (NJ)

An Egg Harbor Township man is accused of stealing more than $350,000 from The Club at Galloway Condominium Association.  Galloway Township Detective Kerry Baerman arrested Ira Binder, 60, Oct. 5 for allegedly stealing a total of $352,620 between Jan. 2010

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I-Team: South Boston Condo Property Manager Accused Of Taking $200K In Missing Funds (MA)

The trustees of a South Boston condo association are scrambling to pay the bills after they say a former property manager disappeared with an estimated $200,000 of funds.  The Channel View Condominium Trust has now filed a lawsuit in an

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Preventing Community Association Fraud: Part Two – Your Property Management Company’s Role

Fraud can strike just about any association – even one that is professionally managed – regardless of how small or large your community may be. However, a good property management company will have checks and balances and other security measures

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Preventing Community Association Fraud: Part One – The Board’s Role

As a homeowner who lives in an association, you put a lot of trust in the people designated to manage your association’s money. So it can come as quite a shock if you discover that one of those people has

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Police: Plainville condo association secretary/treasurer embezzled over $75,000 (CT)

A local woman faces a felony larceny charge after police said she embezzled over $75,000 from the condominium association where she served as treasurer for five years.  Amy Lausier, 50, of 122 Milford St. Ext., was charged Tuesday with first-degree

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Charges accuse couple of stealing nearly $1.3M from HOAs (AZ)

The former head of a Phoenix-area property management company and his wife face federal charges accusing them of stealing nearly $1.3 million from bank accounts of homeowners associations which were clients.  Harlow and Nancy White haven’t yet entered pleas to

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Deerfield condo association treasurer accused of embezzlement (MA)

The treasurer of a local condominium association has been charged with embezzlement after police say she stole more than $18,000 from the association’s bank account.  Jeanne E. Grover, 46, of South Deerfield was arraigned in Greenfield District Court this week

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Condo manager suspected of pocketing building repair money (FL)

A condo manager has been arrested for allegedly pocketing money that was supposed to be used for repair work.  According to officials, condo manager Donovan Staley kept the repair money that was to be used at Admirals Port Condo in

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Hasbrouck Heights Man Embezzled More Than $100K From Condo Association (NJ)

A borough man has been charged with embezzling more than $100,000 from a Bergen County condominium association.  Raymond Gonzalez, 62, was charged with theft and two counts of forgery, Bergen County Prosecutor Gurbir S. Grewal announced Wednesday.  The Bergen County

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Fort Collins accountant sentenced for felony theft (CO)

A Fort Collins accountant who pleaded guilty to felony theft in June was sentenced to community service and probation this week.  Meredith Kanter, also known as Molly Hoff, pleaded guilty to felony theft in June after two criminal cases alleged

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Former property manager gets jail time for Collingwood condo fraud

A Springwater woman was sentence to about four-and-a-half years in jail for defrauding condominium corporations in The Blue Mountains, Barrie and Collingwood of more than $909,000.  On Monday, Justice Nancy Dawson sentenced Springwater Township native Rhonda McCarthy to 30 months

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Prosecutors Drop Charges in Westbury HOA Theft Case (MD)

A litany of theft charges filed against the former property manager of the Westbury Community Association has been dropped by prosecutors, online court records show, but officials in State’s Attorney Richard Fritz’s office say Torya Nicole Timms is still under

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WRAL INVESTIGATES Man who bought HOA-foreclosed homes faces federal fraud charges (NC)

A Wake Forest man made more than $1 million by swooping down on homes in foreclosure and using an intricate shell game involving fraud, forgery and offshore companies, according to federal authorities.  Xavier Milton Earquhart faces 14 counts of bank

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Woodbury HOAs impacted by alleged embezzlement case (MN)

A senior executive at Durand & Associates, a property-management firm in South St. Paul, was recently fired after being accused of taking client money.  Members of Woodbury’s Eagle Valley Homeowners Association, Wedgewood Association and Woodbury Crossing received notices telling them

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Community Manager ordered to pay $1.6 million to HOAs (NV)

Dozens of Home Owners Associations are out a ton of money. Over a million bucks all together. Contact 13 finds out who took it and how they got away with stealing homeowners’ money.  Community Association Managers are supposed to look

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Trial for alleged HOA embezzler delayed to December (CA)

The trial for a man accused of being a co-conspirator in an embezzlement case involving nearly $2.8 million from a San Mateo homeowners association was delayed until Dec. 4 as his defense attorney addresses a family medical emergency, according to

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N4T Investigators: Tucson police investigating HOA

After a News 4 Tucson investigation into potentially missing money, Tucson police are now looking into a local Home Owners Association.  Since it’s an open case Tucson police can’t say much about their investigation, but officials with the financial crimes

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Police: Scottsdale management co. employee stole $200K from 8 HOA’s

A Glendale couple was arrested after they allegedly stole about $200,000 from eight Homeowners’ Associations across the Valley.  Scottsdale police report that in December of 2016 the chief executive officer of ‘The Management Trust’ was alerted by an HOA president

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Fort Collins accountant pleads guilty to theft (CO)

A Fort Collins accountant accused of stealing from two of her clients took plea deals in two criminal cases against her Monday.  Meredith Kanter, also known as Molly Hoff, appeared before Eighth Judicial District Judge Devin Odell Monday on 15

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HOA Secrets Exposed – Criminal Investigation Reopened (GA)

Whether you love or hate your homeowner’s association (HOA), you know that when the dues are due, you have to pay. But how much do you know about how that money gets spent?  A group of homeowners in Douglasville, Ga.

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Investigators try to gauge extent of alleged condo fraud across Twin Cities (MN)

Investigators are looking at more than 30 condominium and townhouse associations across the Twin Cities to determine the extent of alleged theft by a recently fired executive at a South St. Paul property management firm.  Residents of a property in

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Senior condo complex for U retirees is reeling from suspected embezzlement (mn)

The president of a Twin Cities property asset and management company fired a senior executive amid a criminal investigation into allegations that he stole from at least one of the firm’s many clients, an independent condominium complex where retired University

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Palmer woman indicted for allegedly defrauding homeowners’ association (AK)

A Palmer grand jury handed down a seven-count indictment Wednesday against a 63-year old Palmer woman who allegedly defrauded the Mountain View Homeowners’ Association out of almost $29,000.  According to the Alaska Bureau of Investigation’s Financial Crimes Unit and charging

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Ex-Boynton Beach HOA treasurer admits to embezzling over $50,000 (FL)

A former treasurer of a Boynton Beach homeowner’s association admitted Tuesday that he embezzled over $50,000 from the HOA, court records show.  Norman Glavas, 70, of Boynton Beach, pleaded guilty to one charge of grand theft over $20,000 and will

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Two Charged with Stealing from Condo Owners (FL)

The Bay County Sheriff’s Office has arrested the owners of Vacation Place Rentals, a property management company on Panama City Beach.  “The couple is believed to have rented condos and failed to pay condo owners,” deputies wrote in a news

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Former HOA treasurer charged with 8 counts of felony embezzlement (OK)

The former treasurer for the Summit Place HOA has been charged with eight felony counts of embezzlement.  We first told you about the story last October when several board members filed a police report alleging Ralph Mann embezzled around $200,000

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Would you know if financial fraud is taking place in your community?

I was recently contacted by a condominium client to discuss a growing distrust which had taken hold amongst the board members  and management related to financial functions, particularly with regard to the reconciliation of bank statements I asked my friend

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N4T Investigators: Residents fight HOA over possible missing money (AZ)

Residents of the Cuernavaca Villas housing community say they want to know what happened to potentially hundreds of thousands of dollars worth of HOA dues.  Sources say the money was managed by their former HOA president.  However, when residents asked

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Couple charged in Bradenton Beach condo fraud (FL)

A former president and treasurer of Gulf Reach Condominium Association in Bradenton Beach have been charged with defrauding the Florida not-for-profit corporation of more than $50,000 over a six-year period.  Alyson Colosia, 51, and Javier Colosia, 53, who also own

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Bahamas: Condo Owners Hit By Fraud, Says Court

The Court of Appeal has quashed two separate settlements after finding “that a fraud has been perpetrated on the unit owners” at a Freeport condominium complex.  Appeal Justice John Isaacs, in a May 16, 2017, verdict backed by his two

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Homeowners’ association prez admits to embezzling $300K; worked as civilian for NYPD

A civilian employee of the Police Department, who as president of a Rossville homeowners’ association used the group’s checking account as his personal piggy bank by siphoning off more than $300,000, pleaded guilty Wednesday to grand larceny.  Danny Juliano was

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Clearwater attorney disbarred for misappropriating funds (FL)

Nicole Mae Frost, an attorney from Clearwater, has been disbarred by the Supreme Court of Florida after an investigation found the attorney culpable in mishandling and misappropriating client funds in two matters.  In both matters, Frost was the representative for

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Help Your HOA Board Members Understand Crime and Fidelity Insurance

While nearly all HOAs have some type of policies on the books, many HOA boards have little or no idea what type of insurance they have or need. This can potentially lead to expensive litigation and claims that can cost

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Property manager, company plead guilty to wire fraud (CA)

A Ramona property manager and his company have pleaded guilty to wire fraud in concealing bids to a homeowners association involving improvements and asbestos removal.  Robert Walsh, 38, and his firm, Cornerstone Management Professionals Inc., will be sentenced July 7

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