There are so many people who embezzle from their Homeowners Associations, that you just can’t keep up. I could probably do ten stories a day on these horrific crimes and not cover them all. But I will occasionally cover some of them just to give a few of these creeps a little extra face time.
This couple stole $200,000 from the timeshare group they managed. At least they’re going to get some quiet time…behind bars. But do you think that’ll stop other embezzlers? Not in a million years will these cheap little jail sentences create any deterrence factor for others. As long as the current HOA structure exists, board members, presidents and treasurers will continue stealing what usually is easy money.
They’re two of the reasons that your Homeowners Association absolutely does not protect your property values. Your membership in an HOA paints you as a complete and total sucker.
When did embezzlement become a career choice? It sure has become a popular way to “make a living” for those HOA board members. Let me think a minute…how much easier could it get with no access to records, (unless you file a lawsuit and then hear lies about lost records) no audits required, single signers on checks, dues paid in cash, and no government oversight? Geez, HOAs truly are a thieves paradise!
I thought the case of $10,000,000.00 (ten million) dollars unaccounted for in my HOA was an isolated case. I’m starting to realize it’s just one among far too many.