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Allegations of homeowner’s association fraud being reviewed

| Jul 3, 2017 | Embezzlement |

Embezzlement charges in Minnesota can take many forms and may cross multiple types of industries and lines of work. People who hold jobs with fiduciary responsibilities may be at risk for being accused of theft or embezzlement in part because of their seemingly easy access to funds. That, however, does not actually mean that they are guilty of impropriety. As with any criminal case, it is always important that the full facts of a matter are reviewed carefully.

One man who previously worked for a property management company is today potentially considered as having perpetrated some type of fraud yet no charges have been filed in the case. This is a good example of how important it is to be accurate with the facts. What is known is that the man worked for a firm that oversaw multiple homeowner’s associations for townhome and condominium communities.

At least one of the communities has reported some missing funds. It appears that an additional bank account was opened and money transferred into that new account. From there, the money seems to have vanished. It is not clear at this time whether or not the property management company had authority to open a new account or transfer any money on behalf of the community. Financial records from more than 30 other homeowner’s associations are being reviewed.

When under scrutiny for potential fraud or embezzlement, Minnesota residents might want to reach out to a lawyer for help to understand the laws in these matters.

Source: Star Tribune, “Fired exec from South St. Paul firm may be linked to dozens of condo fraud cases,” Nicole Norfleet, June 20, 2017