There is a difference between fraud and incompetence and I tend to favour the old adage that you should never ascribe to malice anything that can just as easily be explained by stupidity.
If you are alleging fraud, then you need to establish who benefitted and by what nefarious means this was achieved. Then it is a police matter.
If you are alleging incompetence by the office-bearers of your Owners Corp, bear in mind the law allows a lot of leeway for EC members who acted in good faith but broke strata law. Their come-uppance comes when they are voted out of office.
If you are saying the strata manager cost the owners corp money because of their deliberate acts or professional incompetence, they are covered by professional indemnity insurance and may be worth demanding compensation and, filing that, pursuing them through Fair Trading.