Is there an HOA in the country that hasn’t experienced embezzling by executives? HOAs historically are money pots, few homeowners even know how to investigate. But the arrest and charging of suspected embezzlers seems like a daily event. Maybe even an hourly event.
Put a money pot out there, give a soccer mom or a football dad exclusive control over the account, and it’s going to be stolen. I guarantee it’s going to be stolen.
Maybe I shouldn’t report on HOA embezzlement, It’s too easy. Maybe, instead, I should try to look for an HOA which hasn’t been cheated. It’s one of those ‘man bites dog’ situations.
(link to embezzlement story in Tennessee)
