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WAS $ 50 M ( U.S. ) LOOTED by NAPLES Fla management company ? FBI chases couple 2022/01/19 13:14  
A Florida commenter at's Forum has drawn attention to a bombshell news report out of Naples Florida.

The F.B.I. & other law enforcement authorities are chasing a couple who peremptorily just shuttered their Naple Florida PMC property management company.

AND the zinger ?

Unaccounted for could be as much as FIFTY MILLION DOLLARS ( U.S.) being the funds of as many as 26 Florida condo or community associations ! ( ch 718, ch 720 & others )

In 2008 the couple reportedly had set up American Property Management Services LLC in Naples.

The sole article quotes one frantic victim Director : being reassured by PMC employees before the management offices were peremptorily shuttered " don't worry. They're just visiting sick relatives in South America !" .

But now : "Where's our funds ? ! Where are the unit keys they had ! ?"

What could be the punchline ? ? Maybe : "Well at least they submitted the lowest bid to manage a decade ago." . . . .

Or maybe : "Don't worry about all your unit keys. They're safe with our cousin, the one who works for a drug cartel . . . ."


Unlike Ontario many U.S. states have virtually zero registration of property management companies nor even try to apply professional standards.

Reportedly the client skillsets are such that many U.S. community associations do not even require dual or multiple counter-signatures signatures for disbursements either.

Ontarions however can remember - from before the current registration environment, howsoever much consumer protection, professional regulation & Directoral training being attempted - the notorious BBB bogus borrowing by-law fraud by a property management firm.[/b] Its principal fled peremptorily to Bangladesh after even being quoted authoritatively by one lawyer in the pages of a prominent daily !

The amount of the now-ancient BBB loss - ? still uncertain ? - may have been $ 20 M to $ 25 M ( Cdn) ! see CAFCOR topic : “MTCC 710 v KHAN and allegedly "front" companies is issued : skimming and rigged bids”


LoriM15 FLA posted details at topic “Property Management Fraud” topic Jan 19/22

( The Naples Daily News article "Collier County property management owners disappear, millions at ..." itself is "pay-walled". ) No other articles yet . . .
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WAS $ 50 M ( U.S. ) LOOTED by NAPLES Fla management company; FBI chases couple 2022/01/24 20:21  
Amidst surprisingly limited press interest from other sources - will it be like Ontario's 2012-13 KHAN information BBB ? - a Florida business journal looks at the lawsuit filed on behalf of THIRTY-SIX - not just 24 - sets of alleged plaintiff victims.

Was this Florida shocker heavily triggered by the cited $ 2 M insurance payouts allegedly re-routed from several of those plaintiff associations ?

Co-defendant is the Wells Fargo Bank group, which is not commenting.

Jan 21/22 ( Fla) Business Observer “Lawsuit accuses area property management company of embezzlement” by Louis Llovio embezzlement
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