Can You Say “SUSPICIOUS?”

At long last a Texas HOA is getting some much-deserved attention. Sadly, it took a homeowners lawsuit to get the ball rolling.
Folks in the Sunchase HOA in Northeast Austin are wondering where a million bucks went. It just kind of wandered off someplace. It’s illegal for a Texas HOA not to have regular audits of their books. Of course, it’s also illegal to filch a million bucks, IF that’s what happened. And Sunchase hasn’t had an audit for at least five years.

The property manager, Nancy Thompson keeps the HOA’s money in several different banks. But for some reason, she won’t let board members or homeowners see any of her bank statements. Board members are also question why Thompson was given thousands of dollars in bonuses. Austin Police are sniffing around. Between them and the lawyers, we may see some future news stories.

Good reporting by Chris Willis of KXAN.

http://www.kxan.com/dpp/news/investigations/lawsuit-filed-in-hoa-money-dispute

Ward Lucas
Author of
Neighbors At War: The Creepy Case Against Your Homeowners Association

Advertisements

1 Comment

Filed under HOA, HOA Horror Stories, Homeowners Association, Las Vegas HOA

One response to “Can You Say “SUSPICIOUS?”

  1. Ann

    Yes, there is always a red flag when the BOD or one of them will not let the homeowners see the bank statements without a subpeona and they will not explain as to where the money went or why the huge increase in expenses. The homeowners of Shelby Town Center Homeowners/Shelby Town Center Association in Michigan have the same difficulty and road block. The audit done is suspicious and very general. It has taken a very long time, but we will probably have to do the long drawn out legal route.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s