The cops probably arrest one out of every 10,000 HOA embezzlers. It’s a crime that’s very hard to catch in the typical HOA structure. But here’s the latest suspect to be arrested.
41 year old David Russell Nero was treasurer of the Ashley Farms Property Owners Assocation in Dover Township, Pennsylvania. He’s now charged with stealing more than $60,000 from his neighbors in 2010 and 2011.
WPMT television reports that Nero is accused of forging 76 checks. He’s also charged with cashing out a CD that was bought by the Association.
Thanks, WPMT, for reporting on this story. Too few news outlets around the country even consider these arrests to be important news.
I honestly love it when I can mention the name of somebody actually sent to prison for embezzling from a Homeowners Association. While I strongly suspect that embezzling is endemic, hitting almost every HOA everywhere, most embezzlements are never discovered. The structure of Homeowner Associations (UCIOA contracts) almost urges embezzling by HOA officers. And they do. People who seek office in unpaid positions, are mostly there for a reason. They’re either ego-driven, or short-term do-gooders and reformers, or they’re looking for a chance at personal gain. Personal gain means, in most cases, embezzling. I may be criticized for my cynicism, but you don’t become a cynic without good reason.
Most cases of embezzling HOA officers don’t get any news media coverage so there’s no way to track all the convictions. But here’s one that did: Kristy Jenkins (KRISTY JENKINS!) is going to prison in Idaho after pleading guilty to felony theft. It’s a plea agreement, so she’s getting a bargain sentence. Just one year. That probably means an actual confinement of eight months.
The prosecutor says Kristy stole at least $20,000 from her neighbors, which is a very low estimate. But Kristy Jenkins is a piece of slime, just like every other thief in Homeowners Assocations across America. And she has tons of company. If every HOA embezzler was sent to prison, there wouldn’t be room for anyone else!
Not many news media people report HOA embezzling stories, but compliments are due to The Republic in Boise, Idaho. Here’s a link to their story.
