According to federal judge U.S. District Lloyd George, millions of dollars have been lost permanently in an HOA fraud. The scam on innocent homeowners took place between 2003 and 2009.
Federal judge George claimed that millions of dollars have been lost forever by some southern Nevadans (homeowners), and those community associations could possibly be gone, forever. Letters from the victims of the fraud were referenced by the federal judge, and were filled with pleads for restitution and reimbursement from the HOA scam.
A former HOA board member was heard in court by George. Citing the fraudulent event as "tragic and unfortunate", the judge empathized with the homeowner victims. Unfortunately, there is little money to help the victims recover from their losses.
A group of at least twenty-four individuals are awaiting sentencing since last year by federal judges in Las Vegas, after they had plead guilty to involvement in the scheme. The investigation for the ongoing HOA fraud continues to unravel more bits and pieces of information in this unfortunate scenario.
The focus has been on elections for the HOA boards which had been "rigged" in order to carry out the fraudulent activities. Prosecutors in this incident have noted that these rigged elections had allowed for a large quantity of co-conspirators to invade the association boards, and allowed for lucrative contracts to be steered toward favored contractors and lawyers throughout