Last week, we talked about the ways that your HOA can unwittingly be stripped of their monies. This week, we talk about the signs that your HOAHOA might be the victim of embezzlement. There are many clues to embezzlement, but the primary clue that theft or misappropriation of funds is occurring is secrecy. Any board member, officer, or management company that conceals records and financial transaction should be suspect. Best practice would mandate association finances to be transparent to the owners at all times. The monies belong to the owners as a whole – the board officers or members. Read the article………….
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