Community associations are not immune from fraud on the part of employees, members, or contractors. In a Q&A with News-Press, Becker Shareholder Rob Caves went into detail about what community associations can do to identify and protect against fraud. Topics covered include:
- The kinds of fraud and financial mismanagement that are most common.
- The due diligence prospective buyers should do.
- The procedures an association board should follow as safeguards.
- The signs that the board is on top of things, and the red flags that it is not.
- The effect that fraud can have on individual owners.
- What owners can do to hold boards accountable.
- How to recover stolen funds.
To read the full article, click here.
Rob Caves is a Shareholder in Becker’s Community Association practice group. He is general counsel to condominium, cooperative, and homeowners associations, and maintains an additional focus on telecommunications issues.