‘Diverted’ Money in Colorado Management Company

This one happened right under my nose here in the Denver area. The Denver vicinity, as some of you know, is home to one of the biggest HOA embezzling cases in the country. A management company stole homeowners blind in a largely minority community. But these homeowners were smart enough to catch this jerk. The bitterness, though, never really goes away.

Now there’s another incident, this one in the same part of town. David W. Martin, PMG Enterprises Inc., has had to surrender his state license to manage Homeowners Associations. He may be the first to do so under Colorado’s new licensing law. The law isn’t perfect. It has very few teeth and some appointed state officials who are really out of their league.

For the record, here’s a link to the story in the Denver Business Journal.

(story on David W. Martin allegedly ‘misdirecting’ a few tens of thousands of dollars)

 

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

6 thoughts on “‘Diverted’ Money in Colorado Management Company

  1. Nila Ridings

    Opps, there goes the argument that PROPERTY MANAGERS should be licensed. Proof enough the license didn’t help the homeowners in the HOA one bit. They still got ripped off by the thief that was paid to be their property manager. Yep, HOAs are a thieve’s paradise!

    Reply
  2. Deborah Goonan

    Licensing of any profession is so much about prevention of crime and malfeasance, as it is an image builder for the profession. It gives the appearance of setting standards.

    One advantage is that, if licensing is required, and revoked for wrongdoing, at least that prevents future clients from being harmed.

    It’s not the answer to all HOA woes, but it doesn’t do any harm either.

    Reply
  3. Nila Ridings

    Giving is license to a property manager is about the equivalent of putting lipstick on a pig.

    It may look good but that’s about it. This story is proof the license was worthless. More than anything it probably gave those who hired this scumbag a false sense of trust.

    Reply
  4. Nila Ridings

    Not to mention licensing will come from the Realtors or CAI. What does that do besides put more money in their coffers so they can gain more control over the homeowners with their control over the legislators.

    It makes zero sense to me.

    Reply
  5. Jill Schweitzer

    What makes zero sense to me is to continue to allow HOA management companies to work without a license that can be subject to fines, suspension and revocation…and impliment substantial regulations – those of which are currently lacking due to CAI’s involvement with legislators. One state will do it right one day. Then the embezzlers will no longer be able to do HOA management ever, anywhere.

    Reply

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