Whew! HOA Fraud in Canada? “Say it ain’t so, Joe!”
Dang! I have friends in Canada and I think of Canadians being so much more gentile and honest than Americans. But then, I seem to be selling a lot of books in Ontario so maybe I’m wrong.
But one of the biggest thefts I’ve read about is a 4.1 million dollar embezzlement from a condo association in that Province. A man who managed 13 condominium operations in Hamilton and Burlington just swiped a little at a time from each one of them over five years. That’s almost a million bucks a year. Not bad work if you can get it.
A founder of the Condo Owners Association used a couple of interesting phrases: “downright ridiculous” and “a disaster zone.” When asked if HOA fraud was rare, her response was, “No, no, no, no, no, no!” And she says laws in the Province to protect condo owners is non-existent.
Heck, she ought to take a look at the U.S.
It’s worse.
(link to man who stole 4.1 million Canadian dollars)