2-Year Prison Sentence For Woman Who Embezzled Over $1M From HOA

Source: Francesco Scatena / Getty

A Warrenton woman, Rose Kasande Bailey, 60, was sentenced to two years in prison for wire fraud after embezzling over $1.1 million from homeowner associations (HOAs) she managed through her company, Rosewood Management and Consulting Services, LLC.

Also See: What Is An HOA Fee?

From 2018 to 2023, Bailey used her authority over HOA accounts to transfer funds into her company’s accounts, covering business and personal expenses, including payroll, rent, and loans. To conceal the theft, she falsified bank statements and moved $600,000 between HOA accounts to hide shortages when one HOA sought new management.

Also See: Black Delivery Driver Blocked From Doing Job By White HOA President In Oklahoma

Bailey’s fraudulent actions impacted over 70 Virginia HOAs that entrusted her company to manage resident dues for property maintenance.

source: The DMV Daily

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2-Year Prison Sentence For Virginia Woman Who Embezzled Over $1M From HOA  was originally published on ronemymajicdc.staging.go.ione.nyc