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#18752
LONGTIME MANAGEMENT COMPANY BOOKEEPER SENTENCED FOR CONDO FUNDS EMBEZZLEMENT 2017/08/18 01:43  
( source : C.A.I.'s Canada Section news - USA cites local news articles below. Judgment is not yet at canlii.org )

Concurrent sentences - the longest of which is 30 months - have been imposed on a 23 YEAR ex-employee of a management company serving condominium corporations in The Blue Mountains, Barrie and Collingwood.

A restitution order. matching fine, probation & restrictions of access to others assets, were reported also imposed. Losses during 7 years to condo clients & the PMC employer were Plea-Dealed to be $ 909,000 ( 2009 to 2015 ).

1 - With years of comingled funding & bogus reporting, there was considerable ongoing havoc wreaked on the integrity of all types of financial statements and Status certificates.

2 - Theft Earlier than 7 years ? ( Historical Cut-Off )

The 23 year employee's GUILTY pleas for offences only between 2009 & 2015, leave the 'credible records curtain' drawn on whatever ( if any )she may have embezzled during the SIXTEEN YEARS before 2009.

It's a fair speculation that the labour-intensive embezzlement could ( ? ) also have occurred for the-Gods-only-know-how-long during her entire 23 year career with the same management company. She has neither pleaded to nor been found guilty of such.

Victims may be furious. But this Plea Deal may suggest that pursuing Criminal Code sanctions against an accused 'slow embezzler', loses judicial credibility the lengthier the historical period claimed. Should the cut-off be 7 years ? Should it be 17 years ? Or 27 years etc ?

For lengthy historical fraud claims, is it really good public policy to dis-incentive diligent oversight by supervisors, auditors & victims ?

Given that such offender has typically controlled the paper trail, for earlier periods just how feasible is it to now try chasing them for 'proof beyond reasonable doubt' . . . records long deleted . . . cast of individuals long changed . . . ?

3 - How Was the Fraud Discovered ?

Always the biggy. News reports cite a genuine auditor becoming aware of a BOGUS AUDIT allegedly produced in his name.

Further, after changing management companies some condo clients discovered shortfall of funds. They persisted in challenging such.

* * *

Aug 15/17 Collingwood Connection “Former property manager gets jail time for Collingwood condo fraud.'This is pure greed,' says Justice Nancy Dawson” https://www.simcoe.com/news-story/7502109-former-property-manager-gets-jail-time-for-collingwood- condo-fraud/

Aug 16/17 Canadian Fraud News “Jail time for Rhonda McCarthy in condo fraud” https://canadianfraudnews.com/jail-time-rhonda-mccarthy-condo-fraud/

Feb 28/17 Collingwood Connections “ Woman guilty of defrauding Collingwood, Barrie condo companies of $909K” https://www.simcoe.com/news-story/7164248-woman-guilty-of-defrauding-collingwood-barrie-condo- companies-of-909k/

xcrp Aug 23/16 Collingwood Connection “Woman accused of defrauding Collingwood, Barrie condo corps set for pre-trial in October” https://www.simcoe.com/news-story/6805031-woman-accused-of-defrauding-collingwood-barrie-condo- corps-set-for-pre-trial-in-october/
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