Category Archives: Corruption, Fraud & theft

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

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Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities (debgoonan@icloud.com) This month: Nevada Real Estate Division suspends licenses of two HOA managers. Two former HOA treasurers, from communities in two different states, stand accused of embezzling money from their neighbors. In another case, the HOA treasurer allowed her son to “help” with bookkeeping, leading to unauthorized access of association’s money. CIC Commission revokes licenses of two HOA managers for fraudulent activity (NV) Thanks to Jenn W. For alerting Continue ReadingHOA, condo & co-op corruption and fraud roundup (July 2019)→

HOA, condo & co-op corruption and fraud round up (June 2019)

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Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities debgoonan@icloud.com This month’s roundup. Ex-treasurer gets one year to repay condo association. Law enforcement finally catches up with rental agent who allegedly cheated condo owners and vacationers. Police arrest former board member for alleged theft of almost $100,000.   Judge cuts former condo treasurer a break in plea deal When nearly $11,000 went missing from the condo association’s bank account, Stillwater Condominium Association filed criminal charges against their former Continue ReadingHOA, condo & co-op corruption and fraud round up (June 2019)→

Florida HOA, condo insurance scams, fraud in the news

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Scam fraud alert signs

By Deborah Goonan, Independent American Communities Two recent reports highlight insurance scams and fraud in Florida. Condo owner waits more than eight months for repairs after bathroom flood WFTS recently assisted Bill Honan, a frustrated condo owner in Tampa. A bathroom plumbing failure flooded his condo last fall. Restoration contractor, Synergy Contracting Group ripped out wet flooring and drywall, and began the process of drying out his home. Synergy’s representative also insisted that Honan fill Continue ReadingFlorida HOA, condo insurance scams, fraud in the news→

Reserve account realities: what the HOA industry won’t tell you

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By Deborah Goonan, Independent American Communities Homeowners’ association industry trade groups have been beating the drum about the importance of strong reserve accounts for many years. It seems like common sense advice for HOAs to plan for future expenses. But planning for future financial solvency is not as simple as reserving at least 10% of the Association’s monthly, quarterly, or annual fees. There are several important factors to consider, which I’ll explain in this article. Continue ReadingReserve account realities: what the HOA industry won’t tell you→