Our buddy from Las Vegas sends us the latest news link (at bottom of this page). The Federal Prosecutor there will soon be indicting its last round of HOA scammers.
These are the guys, you may recall, who ran phony HOA board elections, got the fake board officers to start diverting millions of bucks worth of homeowners’ dues into the pockets of corrupt Nevada lawyers, police officials and building contractors. More than two dozen pleaded guilty; the feds say they may indict a dozen more before ending its racketeering investigation. It’s one of the most massive public corruption cases in the history of the FBI.
But the bottom line here is an awful one. It means the feds are wrapping up their investigation into HOA corruption. That is tragic news! They only looked into a couple dozen Las Vegas HOAs and found most or all of them to be fundamentally corrupt.
Folks, we have 300,000 HOAs in this country. If you think this same kind of Las Vegas corruption is NOT going on in every state in the country, then YOU are the fool.
Across this grand country of ours, countless numbers of HOA officials and managers have pleaded guilty to embezzling from gullible homeowners. And those thefts are never EVER investigated by the feds. It all falls on local cops who are untrained in complex organized crime investigation.
This squad of federal investigators in Las Vegas is now fully trained in how to flush out complex and sophisticated HOA corruption. When they disband their team to go back to chasing bank robbers and credit card thieves, we will all be the losers. The organized crime HOA network will go back to sapping the strength out of the American homeowner.
Sad, sad, sad.