MANAGMENT COMPANY took money

Started by EbonyJ • 5 replies • 1541 views

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EbonyJ (Tennessee)
Posts: 62

Posted:

A friend lives in a HOA, and their mananger with the management company took $12,000 and has left the company. The company has assigned the HOA a new manager. Can they just take their case to the district attorney for the theft and possibly sue the management company to recoup their funds since it was their employee

HoaC (Florida)
Posts: 95

Posted:

The management company is responible for their employees conduct. The management company is responible for reimbursing the HOA the funds misappropriated. The management company is on the hook, not the manager that took the money. Of course the manager will be persued legally by the CAB. There is a difference in a CAB and a CAM. A CAB is a company employing CAMs. CABs are the compannies managing the HOAs, A CAM is a licensed individual to manage a communit association.
Your HOA should contact the CAB and demand reimbursement.
CABs are like a realty company. They have many realtors working for them.

BruceF1 (Connecticut)
Posts: 2,535

Posted:

Possible embezzelment?

If you have proof of wrong-doing, I think I would file a criminal complaint with the police and/or the DA. Let them investigate and sort it out. Once that's done you can file a civil complaint, and, depending upon the outcome of the criminal investigation, seeking restitution should be easier.

AngelaF (Illinois)
Posts: 8

Posted:

You should consider getting a new management company if they don't make IMMEDIATE restitution provided there is absolute proof that the money is missing due to their negligence. Also, communicate all of your concerns and expectation in writing with specific dates for restitution. If the dates lapse, file suit.

SusanW1 (Michigan)
Posts: 5,202

Posted:

And for heaven's sake, find out HOW this person managed to embezzle those funds!
Close the loophole that allowed this to happen.

TimB4 (Tennessee)
Posts: 21,059

Posted:

And lets let the 2 month old post end.

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