Ex-Office Worker Ordered to Pay $869K for Rental Bond Fraud
- * The crime: A former property management administrator stole $789,307 in bond money and additional funds from the business (WVS) over several years using a "ghost account" to...
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* The crime: A former property management administrator stole $789,307 in bond money and additional funds from the business (WVS) over several years using a “ghost account” to pay herself. The total loss assessed by the insurer was $881,240.
* How it was done: She systematically held back payment of one or two tenant bonds each time she made a batch payment, using the money for personal expenses like rent. She also deleted a tenant’s email alerting the business to a bond issue,but the manager had already seen it.
* Revelation: A tenant’s inquiry about their bond in August 2020 triggered the inquiry. Discrepancies in bond reconciliation records were found, and the woman eventually confessed after being confronted.
* Consequences: The woman was ordered to pay $17,483 towards the costs the business incurred pursuing the request.She did not substantively respond to claims or engage wiht the investigation.
* Employment History: She worked for the firm for 17 years,starting in 2003,and had control over rental incomes,trust accounting,and payment schedules.
* Non-Publication Order: A permanent and wide-ranging non-publication order was made to protect the identity of the business (WVS). The woman does not have name suppression, but naming her could reveal the business’s identity.