The property manager of a Corolla resort community has been sentenced to nearly three years in federal prison after pleading guilty to embezzling nearly $1 million from her employer.
The embezzled money came primarily from association dues and assessments collected from nearly 100 Buck Island homeowners as well as monies set aside by property owners for ongoing maintenance and repair of their homes, the release states.
Let's see, HOAs must have the power to foreclose because without it some owners won't pay their dues which just won't be fair on the other owners. Right? But what about all the money that is embezzled from these same poor homeowners? Why is a million dollars" an isolated incident" but a couple of hundred dollars in unpaid assessments cause for foreclosure?