Shared by Deborah Goonan
Commentary: As you read this report, keep in mind that California law requires Community Managers to be licensed. Susan Lambert had received her CMCA certification through Community Associations Institute (CAI). Lambert is now charged with embezzling $2.8 million from Woodlake Association Community in San Mateo, CA. Lambert, who was reportedly being paid a salary of $200,000 until she was fired 2 years ago, pleads not guilty. The Judge has set bail at $1 million.
Although Lambert, if convicted, will have her license and certifications suspended, the report highlights the importance of having multiple homeowners keeping an eye on the financial reports in the community. All members of a homeowners or condo association have the right to know how their money is being spent, and an obligation to take an active role in following that money. Unfortunately, many Owners Associations do not provide easy access to official documents and financial reports, and some have even begun to charge fees for copies.
Quite often, embezzlement and financial fraud goes on for several years before it is discovered by victims, usually because the perpetrator is trusted and no one else is looking at the bank statements and accounting ledgers.
HOA: After two-year investigation, former Woodlake manager charged, booked for theft; pleads not guilty
September 17, 2015, 05:00 AM By Samantha Weigel Daily Journal
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