By Deborah Goonan, Independent American Communities
Now that the FBI HOA fraud and investigation and prosecutions are over, the civil lawsuits are beginning. That means depositions, and some rather alarming allegations.
Now, of course, there has long been speculation that someone – a judge or a police chief or some other public authority in the know – tipped off Nancy Quon and others about the pending FBI raids that would uncover a multimillion dollar fraud scheme.
But even after over 7 years of investigations, plea deals, and over 40 criminal prosecutions, no one in particular has been implicated with aiding and abetting criminal activity, or active cover up. Until now.
Here’s the latest news circulating on social media:
Deposition says HOA fraud figure was warned about FBI raids by State Supreme Court Justice Saitta
Nevada Supreme Court Justice Nancy Saitta “tipped off” a key government target to FBI-led raids in an investigation of massive homeowners association fraud, according to a sworn deposition obtained by the Las Vegas Review-Journal.
In the deposition, Lisa Kim, who ran a company that managed HOAs linked to the long-running investigation, testified that the FBI’s target, the late lawyer Nancy Quon, told her about the tip on Sept. 24, 2008, the first of two days of court-approved law enforcement searches across the valley.
Kim’s 101-page deposition, given as part of a civil case stemming from the scheme to take over a dozen valley HOAs, provides new information about leak allegations that have dogged the biggest public corruption investigation in Nevada for years.
Read Jeff German’s complete Review Journal article here:
(NOTE : For readers who may be unfamiliar with the NV HOA fraud story, you can read about it here.)
Talk about macro political issues. When the tentacles of HOA fraud and theft extend to our justice system – as alleged in this recent deposition – how can US citizens and taxpayers continue to ignore systemic economic and social chaos that begins with our real estate development and management industry?
Whether you choose to live in an Association Governed Residential Community or not, if you pay taxes, you are directly affected. Your tax dollars have paid millions of dollars to investigate and prosecute over 40 white-collar criminals who conspired to extort nearly $60 million dollars from Nevada homeowners.
Furthermore, what happened in Nevada was a high-profile case, but the problem is by no means isolated. Just search this blog under the category “Corruption, Fraud & Theft” for examples from all over the country. And keep in mind that most cases of embezzlement are never reported, to avoid creating a negative stigma for the community, and to avoid the difficulty of finding affordable insurers for the association following a significant financial loss.
With over 60 million people residing in homeowners, condo, and cooperative associations in the US, it may only a matter of time before you, a family member, or a friend are affected by this scourge upon our largely unregulated Association Governed Residential Communities.