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Property manager embezzled funds from condo association


Question:

The board we have is completely void of any knowledge of laws, rules, declarations. They took it upon themselves to hire/pay a management company without owners knowledge or voting. The management company was embezzling funds and was raided by D.A. police & IRS seized all its assets. These morons simply walked away with losing their funds they paid in. The board does not even recognize fiduciary obligations. It doesn't have legal obligation to reimburse us for loss funds? Board hired new management company without bids or voting approval. Do we first -submit evidence or hire attorney. Board also hired atty without voting. Original declarant and management embezzled over $155,000 we are working with atty general as to all this. Anything we can do to put a stop to this board NOW?


Answers (18)

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