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HDFC Managers charged stealing

Started by ss400k
almost 14 years ago
Posts: 405
Member since: Nov 2008
Discussion about
seems to be lot of HDFC threads around.. might find interesting.. http://therealdeal.com/blog/2012/01/26/two-manhattan-property-managers-charged-with-stealing-from-low-income-buildings/ "Caballero was indicted on charges of grand larceny, forgery, criminal possession of a forged instrument and falsifying business records for forging checks and stealing more than $260,000 from an HDFC co-operative"
Response by caonima
almost 14 years ago
Posts: 815
Member since: Apr 2010

many new HDFCs just sold couple new units, the reserve accounts are normally controlled by the management company, it's very easy for those guys to manipulate the money if the buildings don't form a board quickly and take back control of the bank accounts

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