Being caught embezzling from your neighbors can certainly be very embarrassing. Usually, though the embezzler is arrogant enough to not care if he or she is exposed as a thief. But things turned out very differently for a school board president and HOA treasurer.
I’ll spare you the details but just leave the link below:
(link to embezzler story in the Tacoma News Tribune)
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.
A co-worker of mine said his HOA treasurer hung herself in her garage after she was caught embezzling.
There are more cases of suicide due to embezzling from HOAs than are reported. Many HOAs want to keep it quiet so the media, neighbors, and Realtors do not know about it.
If we knew the actual number of deaths by suicide after stealing from the HOA it would probably be unbelievable.