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Marilee J. Layman

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03:15 pm: Management Embezzles!
I'm skimming the front pages of the WashPost sections and what do I find at the top of the Metro section? Our management company is being monitored and investigated for embezzling $800K. Not from us, that's more than our entire yearly budget, but from two much larger associations.

I reckon if they can embezzle, they can lie and cause fraud. I hope the new board will change management companies without us having to set up a letter campaign.



Date:March 21st, 2007 10:40 pm (UTC)
So one might enclose a copy of the article to the head of the association and ask when the audit of your accounts begins. Followed by when the contract is up and how soon a new company can be hired.
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Date:March 21st, 2007 11:48 pm (UTC)
And maybe also ask whether the embezzling accusations are grounds for breaking the contract and billing the management company in question for the fees charged by a qualified auditing firm.
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Date:March 22nd, 2007 06:18 pm (UTC)
Yes, I'm pretty sure we can do this. The problem is that if there wasn't a quorum (or even if there was), it's likely that the woman who would now be chairman of the board would refuse to get rid of management. She has a strong tie with them (I assume Rai did that on purpose) and so we might need to work on getting her to change her mind or get her out first.
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Date:March 22nd, 2007 06:16 pm (UTC)
Yes, however I have to find out who the head of the association is now. We theoretically had another meeting Tuesday night (I was napping from the EEG) and either elected a new board, or let the old board bring in new members (if there wasn't a quorum), and I have to email management to find that out.
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