Why did it take years to discover a $2.5 million HOA fraud scheme?

Money-100-dollar-bills-theft-embezzlement

By Deborah Goonan, Independent American Communities   Maryland Attorney General Brain Frosh filed a complaint in April against Evergreen Management, LLC, and its owner, Jason Barry Oseroff. The AG alleges a whopping $2.5 million fraud scheme against thirteen homeowners and condominium associations. How could such egregious fraud escape detection for more than ten years?   About Evergreen Management Evergreen Management, LLC, was founded in December 2005 and stopped doing business in early 2018. The company Continue ReadingWhy did it take years to discover a $2.5 million HOA fraud scheme?

HOA, condo, & co-op corruption and fraud roundup (April 2019)

Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities Updated April 29, 2019 7:35 PM EDT This month: a bumper crop of HOA embezzlement and fraud investigations, arrests, and plea deals. Most of the crimes were committed by former HOA board members or managers. A common theme in these reports — the embezzler makes all kinds of lame excuses for stealing from neighbors, and then tries to bargain with the HOA to avoid criminal charges. Quite often, white-collar Continue ReadingHOA, condo, & co-op corruption and fraud roundup (April 2019)

Dissolving an HOA – is it possible?

Time to say goodbye quote end terminate

  By Deborah Goonan, Independent American Communities What happens when a homeowners’ association no longer serves its intended purpose? Can it still collect annual assessments? Homeowners of Inwood Forest Village, located in Acres Homes subdivision outside of Houston, recently discovered that their homeowners’ association has been “administratively dissolved” as of 2007. But what does that mean? Apparently, the HOA allowed its corporate registration to expire. According to homeowners interviewed by KHOU,  the last HOA meeting Continue ReadingDissolving an HOA – is it possible?

HOA, condo & co-op corruption and fraud roundup (March 2019)

Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities This month: more condo HOA managers under investigation, several sentenced after pleading guilty to theft and money laundering; FBI probe in Miami; condo owners catch maintenance worker stealing their stuff. Illinois Condo President says former management company left them bankrupt CBS2 Chicago, reports that Drexel Condo Association President Natasha Neptune, has filed a complaint with Illinois Department of Financial Professional Regulation against the association’s former management company. Neptune says Continue ReadingHOA, condo & co-op corruption and fraud roundup (March 2019)