Las Vegas HOA corruption, fraud scheme

[admin]

Keep an eye on your HOA:

http://content.usatoday.com/communities/ondeadline/post/2012/06/26-now-guilty-in-las-vegas-hoa-corruption-fraud-scandal/1#.T8lfwVKWgrw

Federal prosecutors said the scheme involved enlisting straw buyers to rig HOA elections, take control of nearly a dozen boards and steer construction, management and legal work the conspirators’ way […]

… but there’s more!

Four retired Las Vegas police officers — two of them captains — are among the conspirators who have pleaded guilty in the scheme and a related bank-fraud case […]

Real estate, fraud, and retired public-safety workers … in the same thread!

Piggington gold!

[no_such_reality]

You hit the Trifecta!

[urbanrealtor]

This is the new “GOLD STANDARD” for Piggington posts.
Hee hee.

[Coronita]

Did the fuzz still get to keep their pensions while in jail?

[bearishgurl]

[quote=flu]Did the fuzz still get to keep their pensions while in jail?[/quote]

Yes, if they are already retired when arrest and later convicted, their pensions will continue to be deposited in their bank accts (for their families/spouse to live on) while they serve their time (if any).

If they were still active workers who were convicted of felonies (whether on or off duty) and thus terminated or removed for “cause,” then whether or not they would be eligible to collect it would be determined by the outcome of their respective civil service hearings.

In any case, the portions they contributed to their retirements over the years would be theirs, regardless, as well as any monies deposited into their 457 plans (if they had any).

[no_such_reality]

As a minor note, the only fraud and issue with this case is the straw buyers to take control.

What they did once they had control, IMHO,is standard operating procedure for most HOA boards and property management firms engaged to support HOAs.

[Author]

Posts