Manager Accused of Embezzling $500K from R.I. HOA
Rhode Island State Police recently arrested the former manager of a Newport HOA for allegedly embezzling $527,934 from the association.
The State Police Financial Crimes Unit launched the investigation after receiving a complaint from the board of directors at the community, a time-share development in Newport, R.I. As a result of the investigation, an arrest warrant was issued against the association’s former general manager, who was accused of issuing 34 unauthorized checks for his own benefit totaling $527,934 over a five-year period.
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