HOA, Condo Association Theft, Embezzlement Roundup

By Deborah Goonan, Independent American Communities


This week’s collection of news reports of “isolated incidents” of fraud and theft in Association Governed Residential Communities.


Martha and Matthew Beard, a mother and son duo from Lakeland, Florida, confessed to taking $122,000 from the Cimarron Homeowners Association from 2004 through 2015, according to the news report and Polk County Sheriff’s Office.

Mother, son arrested for stealing from HOA in Polk (Florida, Feb 19, 2016)

A former HOA Manager, Kristin Davis of California, was convicted following a 2-month jury trail, of theft from Big Sky Homeowners Association in Simi Valley and the Oak Park Calabasas Homeowners Association. Original charges accused Davis of stealing 1.6 million, but the jury found sufficient evidence for thefts not exceeding 500,000.

Woman convicted of looting homeowners associations in Simi Valley, Calabasas (California, Feb 24,2016)

Woman who stole from Calabasas HOA sentenced (Update: March 10, 2016)

Fred Davis Clark, Jr., former owner of now defunct Cay Clubs, Florida, was convicted and sentenced for defrauding condominium buyers out of millions of dollars in an elaborate Ponzi scheme that involved fraudulent mortgages. Some the owners whose lives have been devastated testified before the federal judge.

Mastermind of $300 million fraud involving Clearwater condos gets 40 years in prison (Florida, Feb 25, 2016)


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