Fraud Ring Drains $5,800,000 From Florida Condo and Homeowners Associations: Report

A fraud ring has diverted at least $5.8 million from Miami-Dade County condominium and homeowners associations through falsified invoices and affiliated vendors.

The operation relied on property management companies to siphon funds intended for roofing, security, landscaping and other upkeep, reports CBS News Miami.

Investigators describe the ringleader as a 60-year-old man who leveraged relationships with elderly, mostly Spanish-speaking board volunteers to gain control of association finances and operations…

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