RLM-

Below are answers to your questions, thank you!

Yes, I said managing agent as well as BP.

There were seven board members, the same people obviously. That is last year when I attended the annual shareholder meeting, although anything is possible and it could have dwindled down to 5.

This person owns their apartment, but controls the voting of many shareholders, some absentee, so things like proxy voting? Oh, it's a big mess with no accountability.

The Pres/Manager is NOT a licensed RE broker BUT has "brokered" out apartments, both sales and rentals. There are self-dealing, conflict of interest issues (sale of one apartment to children of an employee of BP/Mgr/Brkr's managing company (as person also manages a "market value" coop outside the building) also rentals to business associates, etc.

I am a longtime tenant/shareholder in a low-income HDFC coop, one of many formerly NYC owned buildings sold to us by the city at a very low price. These coops are rife with corruption.

I have served on the board on and off throughout the years.
A few years ago, I returned to the board upon several board members request and began to question “authority” and ask for transparency from this person. I became the lone voice of reason. Since then I have been punished. Two years ago I got frozen out of serving altogether, so now I am an “outsider”. The same people (one is VP) who beckoned me back, rolled over to the BP/Manager/Broker (out of fear or favoritism) and have backed his/her bullying, slandering, etc. against me. I have become the “disruptive shareholder” (the truth can be disruptive, I guess), ostracized and dealt with as if I am a crazy and physically threatening person. This one person has turned the whole building against me through their lies.

Yes, I have a paper trail that indicates that the board (most specifically this BP/Mgr/Broker) has violated their fiduciary responsibilities and sought to get me back for being a “troublemaker”. Board meeting recordings that indicate fraud. I have had to be my own investigator, legal researcher and advocate. The City of New York (Housing Preservation and Development) says there are hundreds of low income (HDFC) coops warranting a financial audit and yet they drag their feet.

Have gone to all the appropriate agencies, it's a vicious cycle. At one point tried to interest the BP/Mgr/Brkr in mediatiing with me.

The bottom line is that there is no accountability to be found in my coop and no advocacy from the outside. BECAUSE as the law stands presently THE BOARD RULES and has final say, not a minority shareholder.
I am of limited funds so it's hard to engage counsel, even though I've been told I have a case.

As last year's annual shareholder meeting turned into a tribunal against me, with our attending corporate lawyer fortifying the side that pays him, the corrupt board the thought of another night like that makes me ill.

I know this much...in a market value coop, this abuse of power (one person being Pres/Manager/Broker) is pretty much none existent or nipped in the bud pretty quickly.
In HDFCs it is rampant.

I'll keep trying to organize with other HDFC shareholders in the same boat and in the meantime will take some of the suggestions you have offered.

Thank you all for your responses. Keep them coming.

p.s.- Are there any pro-bono attorneys out there reading this, interested in assisting in any way?