Hundreds of thousands in funds misappropriated.

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  • 12/10/2015 at 5:04 pm #10200 Reply | Quote
    Flanet
    Flatchatter

      $100,000S OF MISAPPROPRIATED, OWNERS CORPORATION Funds

      Anyone with similar experience or advice please respond?

       It seems we must take our paper work to Fair Trading and what we have read  here and in Jimmy’s great columns leave us with little confidence.

      The following is the tip of the Ice berg.

       We have found our Former EC Chair, Secretary and Treasurer any have been-

      • Approving increased Fees that were never submitted to the AGM of an EGM and there EC minutes have no records of any approvals to these increases in Annual Fees.

      • Approved many over and extra payments on contracts, (no records)

      •  Unjustifiable if not frankly fraudulent payments (no information on invoice) and made out to an employee duplicate and triplicate services/ items. E.g. Invoices totalling $ $700.000 p.a. WEED POISON and most far worse have been approved, at this stage it has to amount somewhere in the vicinity of $100,000s.

      •  For years the deposits for the Security entry devices have been recorded as income by the Strata Manager

      • Contravened the strata legislation not getting 2nd quotes for Work over $60,000.

      The strata Manager is denying any liability and blaming the former Chair and Secretary who they say approved the payment of all invoices, not the strata manager or anyone at this office The committee had complete unquestioned authority. (wasn’t something like that said at Nuremberg).

      Any advice welcomed.

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    Reply To: Reply #24103 in Hundreds of thousands in funds misappropriated.
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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