› Flat Chat Strata Forum › Levies and Unit Entitlements › Hundreds of thousands in funds misappropriated. › Current Page
Thank you for your response, your work is most appreciated.
Did our mother’s know each other? Mine taught me “ If you can’t say something pleasant or positive, keep quiet and if you can’t keep quiet, make very sure of your facts and try not to be unkind”.
We had concerns about the state of things, why never was quorum for an AGM or AAAGM and 150 units. This year my husband a busy, retired (appropriate profession) ended up nominated to the EC (one of 10 owners at AAGM) The Chairman and Secretary sold their units, he was then nominated Secretary. He did his homework and spent weeks going through the Strata accounts with the upcoming budget in mind and with what he saw, increasing horror.
We have prepared a detailed and shocking Report for the EC, fully referenced, supported by photocopies and the analysis of all the aberrant and unidentifiable payments made by the strata manager SM.
It seems, there is likely to be a combination of fraud, gullibility and probably gross negligence, when it came to advice, paying invoices, accounting for deposits etc. This EC had not made themselves aware of the various parts of Strata legislation or perhaps, not been advised by the SM who attended all meetings. The EC seems as well as gullible, very forgetful and seriously taken advantage of.
Our problem was, on what door should we knock. Fair Trading (FT)suffers a negative press for Strata matters and we hoped someone might come up with a better option.
Today we found a FT section on Property Agents and Managers and are guessing this is where we start, are we correct?
Has anyone any experience with this group in Fair Trading or advice on how we should proceed?
Past business experience taught me that unless fraud is Mega Fraud in the Millions the police are too under-staffed for the many frauds to follow much up.
Best wishes
Flanet