Q: Hoa cancelled contract. That person took all the money and closed bank account. can they do that
Our Hoa contracted with an individual to handle our financial affairs, pay bills, accept payment and deposit money and keep records. Person violated the terms of their contract. The HOA cancelled the contract and notified individual by mail and 3 cease and desist letters. Person went and closed our bank account and took all the money. We have the proof. The Bank let us down...they refused our Board access to the account records so we could do an audit as we suspected embezzlement. The woman was the only signer on account. They say she could legally do it.
A: It appears that the HOA has a case for fraud. I'd recommend contacting a qualified attorney right away.
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