---
title: Management company embezzled over $150K from our HOA
description: Board hires property managers who embezzle HOA cash. No board oversight.
image: http://www.condoassociation.com/hubfs/HOA%20embezzlement.jpg
---

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# Management company embezzled over $150K from our HOA

| [Property Management](https://www.condoassociation.com/blog/topic/property-management) |  

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## What do you think? Question:

The board we have is completely void of any knowledge of laws, rules, declaration and they took it upon themselves to hire a management company without the owners knowledge or voting. The management company was embezzling funds and was raided by D.A.and police.  IRS seized all of management's assets. These morons (the board) simply walked away with losing their funds they paid in. The board does not even recognize fiduciary obligations. Doesn't the board have legal obligation to reimburse us for loss funds? The board then hired new management company without bids or our voting  approval.

This place is legal/financial mess with thousands of dollars  
embezzled by original management. Can the board just walk away from reimbursing us and hiring new management?  The board also hired attorney without us voting. Anything we can do to put a stop to this board now?

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## What do you think? Answers (20)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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