CBS5AZ.com: Scottsdale HOA sues property management
Their property management company is accused of embezzling more than $3.4 million.
By Jason Barry
August 14, 2014
SCOTTSDALE, AZ (CBS5) – Some North Scottsdale homeowners are angry and they want answers.Their property management company is accused of embezzling more than $3.4 million. The Edge at Grayhawk Condominium Association has filed a lawsuit in Maricopa County Superior Court against Eagle Property Management. The lawsuit claims that Eagle Property Management committed fraud and embezzled millions of dollars in HOA money. “It’s a real shame for what they’ve done to us,” said resident Zale Taylor.
According to the lawsuit, Eagle Property Management president Kelsey Powell, had been making unauthorized transfers of HOA funds into her company’s own bank accounts, dating back to 2010.It wasn’t until HOA board members got suspicious and hired a CPA to do an audit, that financial discrepancies were discovered, the lawsuit states. Read more: