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Sponsor Management CompanyFeb 29, 2012

I live in a conversion Co-op. I have lived here as a rental and purchased my apartment as an insider. I was elected to serve on the the Board. Our sponsor currently owns 80% of the unsold units. They are also the owners of our Managemnt Company. Two sponser appointed board members are running our management office. One is the property Manager and the other is asst site Mgr. Recently I was approached by the outside hired Site Manager of impropieties that she has found between the two board members. She has witnessed payments of cash by vendors, Seen check registers of checks being written to deceased residents to "buyout their apts" . and witnessed padded invoices from vendors. which are being approved by the property Mgr. She recently approached the Property Manager with this information and was fired. What do I do as a board member who was given this information?

Join the Conversation Comments (1)
Re: Sponsor Management Company - ~AR Mar 02, 2012

You need to contact the authorities and report it should you want to make it formal. ... There are serious crimes being committed and the Attorney Generals office should be advised. be careful what and where you post.

Best
~AR

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