Condo Q&A

Could condo association board, manager be involved in financial fraud?

Written by CondoAssociation.com | Fri, Nov 26, 2010 @ 07:15 PM

I am in Florida. One of our long-time unit owners applied for the job as building manager and got the job about 8 years ago. He is paid a salary and makes decisions in conjunction with the condo association board. I am trying to find out if there has or is some type of conflict of interest.

We were sued by the building across the street for a parking situation 2 years ago. We were told that we lost the law suit and would have to pay $95,000 from our account. While discussing this with someone just in passing the other day, I was told by someone in the other building that the law suit was dismissed and that each building would only have to cover their own legal fees. I searched online and did indeed find a document from the county court that indicated exactly what I was told, the case was dismissed. Upon further searching I have discovered that this unit owner who is also the building manager is a notary and his signature and seal appear on the documents. Of course now there is $95,000 missing from the account. Isn't this a conflict of interest to have another unit owner as manager (he is in his 50's and quit his previous job, and is being paid a handsome salary)as well as having his notary seal and signature on documents? I am also wondering how to go about approaching this $95,000 situation. Of course anyone can get on a computer and fudge figures, which is what has apparently happened.