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Accounting Assistant Steals $148,000 from HOA by Setting Up Company with a Similar Name

Wednesday, September 21, 2016   (0 Comments)
Posted by: Larry Szabo
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September 21, 2016 

The Real Deal, a South Florida real estate news provider, has reported that a former accounting assistant in Miami-Dade has been arrested and charged with first-degree grand theft and organized crime to defraud more than $50,00 from a condo association. 

The report indicates that the person allegedly stole $148,000 from a condo association called “Hammocks Community Association Incorporated” in less than a year.  The crimes were committed by creating a company she called, “Hammocks Community Association Properties LLC,” a name that was very similar to the association’s name.  She then opened a bank account in her company’s name and collected and deposited payments for condo owners into her account and not the association’s bank account.  She then used the funds for personal expenditures.

The reported article can be viewed via the following link: see complete article>