New York's Cooperative and Condominium Community
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?
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