Why won't Master Association return funds?
The Master Association property manager decided to deposit check(s) amounting to $16,000 or more inadvertently sent to him by the North Association that were intended as North Association's monthly reserve account deposits. These checks were payable to Edgewater Isle North Homeowners Association, not Master.
The Master Association property manager deposited the funds, and has unilaterally decided that he won't give them back to the North Association. Master Association is supposed to have a meeting and discuss this.
Anyone care to comment? Are we all going to sue each other again and waste more money on lawyers?
Nick Pargett guilty of malfeasance
March 26, 2008
Moxi Posner 2247 Vista Del Mar 572.9447
To: Barbara Finnegan, President of Edgewater Isle Master Board
From: Moxi Posner, Edgewater Isle South Homeowner
Subj: Nick Pargett depositing $16,000.00 inaccurately into the Master account
This notice hereby places you, Barbara Finnegan, President of the Master Board, that homeowners are cognizant of the two fallacious checks that Nick Pargett, Property Manager of the Master Board, DEPOSITED INTO the Master Board bank account.
It appears, so it seems, that the two checks were made out to Edgewater Isle North and sent in error to Nick Pargett. Nick Pargett, should have contacted CMS, North's management company, or called CMS, or sent the checks back to CMS or voided out the checks. Instead, Nick Pargett, has admitted and knowingly, deliberately deposited the checks into the Master account, $16,000.00, as the evidence shows.
Homeowners have been waiting for the Special Meeting, TO BE POSTED, concerning this matter. It is ILLEGAL to have secret meetings other than for firing. You know that, Jim Newell knows that, as do homeowners. Why Barbara Finnegan are you dragging your feet on this critical financial transgression? Is your allegiance to Nick Pargett and not to the welfare ofEdgewater Isle? Barbara Finnegan you have not shown good faith.
Of course the bank is investigating this matter. This serious matter is not going to just disappear. This matter must be resolved to the satisfaction of the bank and homeowners.
Nick should resign IN SHAME. You and Jim Newell might consider resigning from the Master Board for not apprising homeowners of this transgression, by not posting a Special Meeting as of the date of this writing. It is your fiduciary duty to have done so.
Edgewater Isle North, Edgewater Isle South, and HIP await your answer concerning the posting of the Special Meeting pertaining to Nick Pargett guilty of malfeasance, depositing fallacious checks into the Master account amounting to $16.000.00.
cc: edgewaterisle.com & others
EDITORIAL COMMENT: The Edgewater Isle Master Association admitted to this and never denied it.