HOA Thefts Raised Questions About Financial Controls
ADAMS COUNTY, Colo. -- A former employee was sentenced to 10 years in prison Wednesday for stealing more than $700,000 from homeowners associations in metro Denver.
Stacey Lynn Chevarria, who worked for Vista Management in Westminster, admitted she stole the money, authorities said. She was sentenced in Adams County District Court.
The thefts surfaced in October 2009 when Vista Management President Cindy Combs and her bookkeeper were trying to reconcile bank books and discovered money missing, police said.
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More evidence that HOAs need the power to foreclose. Heavens, if they didn't some homeowners might not pay their assessments and that justwouldn't be fair, would it?
Hmmmm, something just isn't quite clicking.
3 comments:
Again the orange wardrobe option for property managers.
From the management company's website:
"The principal of the company has successfully completed her Professional Community Association Manager Designation, PCAM, which is the highest professional level in community association management. Managers are Certified(CMCA and AMS) by the Community Associations Institute in Alexandria, VA, and/or supervised by a PCAM. We are proud and confident that our dedication to continued education has been beneficial to our communities."
Exactly what kind of education does CAI continually give? I wonder if this student went to classes with Koger? Just another one of CAI's isolated instances.
In my opinion, in addition to the theft, I wonder, how many, if any, were made homeless due to some type of foreclosure scam, many of these credentialed professionals and their associates, appear to carry out. I guess they don't have to have the credentials, of course. Just the opportunity. Somebody needs to look at any foreclosures within these groups, as well as the thefts and make it public info! If people have been illegally and falsely fined, assessed and foreclosed upon, the deserve to be rectified.
Really good article. Amazing how this industry is changing. We have been working hard and visiting www.hoamanagement.com for updates as well. You might find this helpful.
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