King Kenny Rulz The Palisades. Check out this notice The Palisades HOA Board of Directors sent to its members two days ago.
Dear Palisades Homeowners,
Concerning the Palisades/Ridgway Lane missing funds situation, we are informing you of the following developments.
As of Monday, November 11, we have appointed an Audit/Finance chair to conduct an extensive audit of our bank accounts.
The chair is an experienced financial professional and has assembled a committee of the same to participate in this process. All are Palisades residents. The committee is currently heavily engaged and should be able to report as soon as Monday. We appreciate them volunteering for the task.
The Board has been securing what we feel are all Palisades records and files from the Ridgway Lane office. Those have been handed off to the audit committee for their use and will enable us to operate going forward.
We should have legal counsel on board by close of business today so that we can proceed and we have established contact with the DA's office as well. I am sure filings will come soon.
Please be assured the Board, committee members, and other volunteers are working to act in the best interest of Palisades.
Well, Kenny Windham and his Merry Board of Incompetents appointed "an experienced finance professional" and appointed a committee to deal with the Ridgway Lane embezzlement. They won't tell the homeowners who they are but don't worry, they can trust the Board because they have everyone's best interests at heart.
The non-disclosure of who is on this committee as well as "the chair" is a slap in the face of the homeowners who were victimized (allegedly) by Ridgway Lane. It is King Kenny and his Board that gave Ridgway Lane unfettered access to its bank accounts without any checks and balances. It was King Kenny and his Board that didn't review bank statements or reconcile them to reports. King Kenny and his Board put the Palisades in this position through negligence and incompetence. Other homeowner's associations such as Dinsmor and Bruenberg are being very transparent with their members. However, openness and accountability drown when crossing the waters of the Rez. The homeowners of the Palisades have every right to know who is looking after their money. Period.
Meanwhile, Bridgewater and Bridgwater at Old Agency road obtained temporary restraining orders against Ridgway Lane, David L. Lane, and David W. Lane. Circuit Judge John Emfinger issued TRO's that froze all assets of the defendants. The order includes all accounts maintained by the defendants at Community Bank. Judge Emfinger also ordered the plaintiffs to post a $5,000 security bond. The order will dissolve on November 22 unless extended.
Bridgewater accused the defendants of embezzling more than $500,000 in homeowners association funds. Bridgewater at Old Agency accused them of absconding with $343,983. The two HOA's, Lakebend, Dinsmor, and the Barrington have sued Ridgway Lane and the Lanes for embezzling funds. Bruenberg and Palisades have reported similar financial irregularities as well but have yet to file suit.
JJ is aware of at least three more homeowners associations that were (allegedly) victimized by Ridgway Lane.
Earlier Ridgway Lane posts
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.
23 comments:
The lack of regulation and oversight of these HOA's and related operations, as well as the utter absence of transparent-ness regarding records and bank statements, is an issue that the Legislature should address this session, especially in light of Senator Walter Michel's bill last session (which became law) giving them the pathway to tax residents, even those who don't choose to participate.
Also, one trick that the rank-and-file members of these HOA's need to be watchful of: the management groups paying for trips by HOA officers and board members to "training" or conventions that are claimed to be work related but coincidentally end up in lavish resort areas. By having the management company pay for it, the officers can truthfully report to members that the HOA funds were not spent for the trip.
Kenny Windham is a good guy. Google him. https://formississippi.org/board/kenny-windham/kenny-windham/
You, MR. SMART ASS, are on the phucked up, irresponsible Zoo Board. Great job, you incompetent POS. Glass house, Glass House, GLASS HOUSE. How much did the ED misappropriate under YOUR watch, Mr. "I approved her"?
I have always stayed away from developments with HOA involvement and would recommend to my friends and family to do the same.
At least their Palisades-approved "For Sale" signs match the Pantone color chart. That was decided at a meeting with KW and Mr. Lane.
Whew. I was worried about that.
Actually I'm the one who caught her and turned her into the state. I'm also the one who confronted her over it. Perhaps it's time for me to post the recording of that meeting.
I'm also the one who got the board to open up the private board meetings to the public. Nice try.
It take time and knowledge to govern an upscale neighborhood and a HOA is required. It appears there is lack of people with the smarts to take care of business in the Jackson Metro Area.
There is a well-respected CPA who works for a MS based CPA firm and who lives in Palisadses that I am sure is the one appointed.
10:42,
The Lanes were well respected until they weren’t.
Give up the name or don’t comment. But nice try.
The CPAs in the neighborhood were already alarmed and had begun investigating. This was common knowledge among many neighbors. Subsequently, the board turned them into a committee. The organization of the committee was on the part of independent homeowners and not the board. There has been longstanding trust issues with this board as they campaigned hard to remain in place earlier this year and shut out four young families with children from attempting to serve. Actually reprimanded them for attempting, viewed it as a hostile takeover lacking appreciation for what the board was currently doing and literally scolded a room full of professionals for even thinking the board was not doing a good job. They were offended when someone asked to go line by line through the budget and to discuss where the money was being spent. This was refused. As a result, it would only make sense to have a committee of respected and trusted neighbors because no one would take the board’s word for anything they say about the finances. People remember when you disrespect them especially at the level shown at that meeting. Is Kenny a nice guy? Yes, I think he probably is. Does that mean he and the others need to retain their leadership after such immature behavior and naive trustee of David Lane as well as blatant disregard for the feelings and request for involvement by neighbors? If for no other reason than they have held these positions for two decades, they all need to resign. It’s time to let some of the young people - wait we are mostly 40 to 50s- take the reins before our kids all leave for college and we finally get a playground. All good things must come to an end. Many offered to help you Palisades HOA. So many. We need a Cindy Dunbar. Fresh eyes who ask for a bank statement and new ideas.
We lived in Palisades for some years. Kkingfish is spot on.
Agree with 10:19am.
Costco to Bridgewater, “ain’t karma a bitch!!”
My impression, as an outsider looking in, is the post at 10:22 a.m. is emblematic of the response Palisades resident-homeowners get whenever they try to participate in the management of their own neighborhood.
@10:13
Dear Kenny,
Kingfish didn't let the zoo get hustled for $200k and talk down to residents when they questioned the finances. Hope you got some E&O insurance + professional liability ready cuz the lawsuits are surely coming.
@1:21 PM - please refer to a map. That would be....Dinsmor.
It would be a good idea to have at least one person on the board of any homeowners association that actually knows about real estate. Meaning they have a degree in real estate or have years experience in real estate. I just don’t understand why any subdivision would appoint any president of the board that does not have a significant background in real estate. If you have a competent board you would not hire out a third-party to manage your money anyway. Why pay a management firm to manage the entire neighborhoods money? Oh wait it’s probably because no one on the board has a freaking clue about REAL ESTATE.
It is not necessary to personally attack Kenny. He is a friend and a really is a good guy.
Anybody know where the money went? Too much for drugs. Maybe gambling? If it was stolen money, then it could be recovered from the receiver as unjust enrichment.
What so many people fail to realize is when you move to a neighborhood with a ruling HOA, you are forfeiting all rights you have as an American. They can ruin your life. I for one will never under any circumstance live in such a dictatorship - ever. You get what you sign up for. Good luck!
5:26PM, it’s probably as simple as Lane’s lifestyle exceeded his earnings.
Think about it, with office space, employees and the other overhead, how many hours can one spend on something for the $1,750.00 per month (I think I read) that Bridgewater was paying?
Sounds like the real money being made was via theft.
anonymous at 11.06 nailed it. What happens is when the same people do it for 100 years they start trusting people stop verifying. Kenny is a very good guy but he probably has not looked at a financial statement in 5 years. HOA"S any organization needs to turn over their board every few years. I'm a CPA I can tell you 100 stores like this. Fresh eyes catch things
@7:38 PM - "Fresh eyes" - exactly. Otherwise there is serial "confirmation bias."
For you HOA board member lifers, you may want to look that up. We'll wait.
I guess Natchez Trace Village HOA Board spent what they had suing so theres that.
I would think the board members of these HOAs will pay what is missing and can't be recovered as it was their job to take care of the HOA business and that would include taking care of the money. I have heard that most people who want to be on HOA boards are the type of people who want to make sure you do right, even if it is hurtful. I hope they make it right since the let their neighbors money get away. All the scammers and pyramiders do what the management company did. Act like you were beneath them when questioned.
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