Willie, be afraid, be very afraid. Write a formal letter fast, asking pertinent questions such as: why the strata manager didn’t do as requested; are there any commissions associated with the investment; exactly how and where the money is invested; does the owners corporation have insurance against negligence and fraud; can you be provided with a full set of accounts for the investment etc.etc.
Are there agenda items and minutes and / or correspondence about your investments.
Is there any chance your ‘term deposit’ is with one of the… err… big merchant banks and your strata manager is one of the… err… big strata managers? Do you pay your quarterly levies ‘indirectly’ through a type of credit system with an acronym name?
If you don’t get direct answers fast ask for the money to be put back into your strata’s account.