The Bruenburg Property Owner's Association in Clinton sued Ridgway Lane to recover embezzled funds in Rankin County Circuit Court today. There are six homeowners associations suing Ridgway Lane for allegedly cleaning out the HOA bank accounts that were managed by the Flowood company.
You know the drill. Ridgway Lane managed the HOA's bank accounts at Community Bank. Bruenberg got suspicious and wanted to look at the bank statements. Bruenberg examined its bank statements and discovered nearly $200,000 was missing. The complaint states:
David L. Lane was Ridgway Lane's primary contact for BPOA...
Ridgway Lane's duties specifically included but were not limited to maintenance of an operating cash account and a reserve account and payment of operating expenses incurred by BPOA.
BPOA met on November 7, 2019 and at the conclusion of that meeting, David L. Lane said that due to current health issues and with his son David W. Lane leaving the business, that effective December 31, 2019 Ridgway Lane would close down.
On November 8, 2019, BPOA was made aware of financial discrepancies found at other POA's managed by defendants.
Subsequently, BPOA obtained bank records and performed an audit as to their primary accounts... BPOA noticed significant discrepancies between BPOA's banking information and the financial reports provided by Defendants.
It has been made clear that instead of utilizing the accounts as intended, Defendants transferred without authority, knowledge, or consent at least $188,330 out of BPOA accounts....
Bruenburg sued for conversion, fraud, unjust enrichment, breach of contract, breach of fiduciary duty, and negligence. The case is assigned to Judge Dewey Arthur. Attorney Thomas Bellinder represents Bruenburg.
Earlier Ridgway Lane posts
King Kenny Rulz, Bridgewaters get freeze.
Lawsuit: Lane Confessed
Dinsmor losses over $200,000
On deck: Bruenberg
Up next: The Barrington.
Bridgewater goes for freeze, Bridgewater at Old Agency says RL embezzled over $340,000
Palisades plundered.
Dinsmor HOA discoveres "irregularitites."
Bridgewater accuses HOA manager of embezzlement.
27 comments:
More popcornnnnnnnnnnnnnnnn. Next.
Here's the lineup:
1. Bridgewater
2. Bridgewater at Old Agency
3. Dinsmor
4. The Barrinton
5. Bruenburg
6. Lakebend
7. The Palisades.
8. Next...
I'm wondering if the once secret neighborhood 'pineapple' code might soon be exposed within communities outside of Madison (The County).
The only winners to come out of this will be all the debt collection/HOA attorneys charging $300+/hr to claw back a paltry percentage of the already spent HOA funds, maybe.
There are quite a few of these debt collection/HOA attorneys out there that have built their entire practices using homeowners' own money against them. Oh, Mr. Homeowner, you thought you could plant those azaleas without asking Karen and the menopause crew for their permission? lol, here's a notice of violation letter from the HOA's attorney notifying you to remove the azaleas or they will hire someone with your own money to come on your property and remove them for you. It's fine, it's not trespass. You agreed to this when you bought your property under unregulated corporate rule. Oh, and now you owe the HOA for the letter drafted by the $300/hr attorney on top of your HOA dues. So you basically paid to kick yourself in the balls with your own money because you wanted some nice flowers. And you better pay that debt, because they'll hire the same attorney to put a lien on your house and seek judgment against you to garnish your wages if you don’t (with attorneys fees tack on of course). Hope you enjoyed planting and digging up those $5,000 azaleas.
Karen will then let you know that everything they did is for your own good and in the name of "maintaining neighborhood property values." They're really only trying to help you because you don't know shit about the neighborhood or property values. What Karen doesn't want you to know is that property values are 95% based on the condition of home, sqft, acreage (if any), and school district. Whether or not you have rose gold siding and your driveway blown off twice a week doesn't matter one bit. Don't let some dumbass realtor who couldn't cut it in a real job tell you otherwise. The only thing worse than a realtor is a realtor on an HOA board.
What was that? You thought you lived in America, land of the free? lol, nope. You live under corporate rule with no regulations on said rule. I hope your Karen is nice.
Under the circumstances, was "closing down" either in question or even an option? "We won't steal from _your_ HOA..." isn't the basis for an award-winning advertising campaign. Admittedly stating the obvious, it will be interesting to see how all of this plays out.
4:10 - Who the fuck is 'Karen'?
Kingfish; Would it be possible to lump all these many threads into one?
Okay the question what did they do with the money. Help pay for Lost Rabbit investment or lavish lifestyle. Word on the street is they just took vendors bills and tripped them on the books and transferred the month to their business account. My bet is Lane's hopes were to hold on until Lost Rabbit investments sold and replace the money. Cindy Dunbar comes along and is like why is our landscaping bill so high
6:42 I’m not that poster but look up the Karen memes (Karen took my kids!). They are spot on for spoiled white women hopped up on antidepressants who frivorce you and take the kids luckily I didn’t marry one but many of my friends did. She stands for all the soul sucking birches who took the house, kids, and alimony to go be a whore around town.
8:54, I suspect your many divorced friends only told you part of their stories. As you believe anyone can get "hopped up on antidepressants," I'm not surprised you also believed that your many divorced friends were telling you the whole truth when they blamed everything on their ex-wives.
I expect these many threads will probably be brought together into one when the various actions are consolidated into the first one that was filed. Whatever team of attorneys ends up as lead counsel will most certainly not be debt collectors. They will likely be highly-sophisticated litigators. Personally, I think someone needs to file criminal charges before this creep skips town with the money he stole.
Lost Rabbit needs help. That’s the worst laid out development I every seen. Everything looks like an afterthought
Um, y'all read the comment at 4:10pm and the only issue was "Who is Karen?" and an explanation of same. Well, that's scary.
Lost Rabbit in Madison will be another one. Look into the $600,000 pool that could've been done for 50. The appointed lackies on the board agreed with the management company.
Oh, but they intended all along to give the money back. That's what 7:32 said.
The commenter at 6:42 has an excellent idea. PLEASE do consolidate all these threads into one, Kingfish? It’s always most fascinating when things like this happen, but...not THAT fascinating.
Those of us tittering with Schadenfreude at these people who abase themselves by consenting to live in “planned developments” (being told what color trash can is allowed, and whether they can park an RV on their own property? Puh-lease!) are hard to pity. That there is even such a thing as a “Homeowner’s Association” is a bit pathetic, but that’s just me.
It is interesting to me (but, admittedly, probably uninteresting to anyone else) that the use of the word “home” is wrong, to begin with. Look it up. If they must have such things, they should call them “Residents’ Associations”. And, obviously, set term limits for these little insect-authority pezzonovanti who run ‘em.
Is Ridgway the management company for Lost Rabbit?
Im going to try and consolidate next week but keep in mind, this stuff has been breaking very quickly. This site has put out much more info than the other local news media combined. I still have two more posts today and tomorrow about this subject.
I know it's like drinking from a fire hose but I'm trying to keep readers from getting lost in the weeds but writing monster posts.
I'm in agreement with Oh-Feel-Ya (a rather trashy and insubordinate moniker I've hung on her). Homeowners Associations are rather insidious beasts with which we adorn ourselves being fully aware that they will sooner or later choke us into compliant servitude and even death. What other manner of animal does that? Well, perhaps the male preying mantis.
I once owned an HOA Manual and served as an officer. Reading it was often as frustrating as reading Oh-Feel-Ya as she attempts to twist us around the axle of the elocutionistic dribble-drabble of toddlers.
Bet she has a padlocked gate with a slide-bar for a peep-hole to identify trespassers.
I'm not surprised by any of this...loads of cash coming in every month and hostility towards those who request accountability and transparency...not any better than dealing with the local bureaucracy. Thanks goodness I don't live in an area that has an HOA, and the only thieves I need to worry about work for the government!
But the Lanes left the company so they can’t be liable now right?
And Ridgway ....he hardly even knew David Lane Of Ridgway Lane and Ridgway left the company thousands of minutes ago....so he’s clear.
Oh well
Interesting that Thomas Bellinger is the attorney representing this HOA and he was the attorney Ridgway Lane typically hired (or did in the past) to collect from neighborhood residents for past due HOA assessments.
4:10 pm " Karen" is elected. If you decide not to bother to find out what " Karen" is doing , it's on you.
You voted or didn't bother voting for " Karen" without a clue of what " Karen" was like or what she actually planned to do.
You can't get more " American". That we got too lazy and complacent to bother to vote based on whether or not "Karen" was competent to do her job or whether she was of good character is how we ended in the mess we find ourselves.
You put your life into the hands of those you don't know and who may have only their agenda in mind, and you get what you deserve.
11:53 - Exactly how intimate are you and this Karen person? Are these your shorts in the back seat?
My name is Karen. Never did I know that my name is a moniker for someone offensive.
Sure is nice that we live in a free country! Those who want to live in a neighborhood with a HOA that works together to keep their common areas and amenities in good order and their legal covenants adhered to can! Those who have no interest in these things can live somewhere else! Though not so sure why they have so many negative things to say about about the homeowners affected by this fraud from a trusted Jackson Business, as if it is anyone’s fault but Ridgway Lane.! No one told them to steal money from all of these people! This was a choice they made on their own! They will suffer the consequences of their actions!
@8:13 So many people across the system are to blame. Being naive and ignorant of one’s duties no matter how many other people fell into same trap, do not erase liability. Nobody ever looked at a bank statement. This is egregious. Hooray for Cindy Dunbar for asking questions!
Home-buyers who seek out neighborhoods with an overbearing (aren't they all?) HOA are the same youngsters who enjoyed being herded, single file, out onto the playground at recess. Then return to class and get instructed on 'coloring inside the lines', with the same No.2 pencils, pack of Kleenex and plastic ruler in their Trapper Keeper.
But Thomas Bellinder was an agent for Ridgeway Lane. For him to represent the management company in that capacity and then represent a member of the same HOA makes no sense. Would that not be a conflict?
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