As Members are aware the Association has been the victim of an embezzlement. In an attempt to keep the Membership apprised of this sensitive legal matter, the following summarizes the current status of the pending Embezzlement Case:
Clearwood Management provided the names of all Corporate Officers and employees, from 2014-present, to the Forensic Auditor and requested investigations into all persons to identify any inappropriate transfer of funds or theft of monies. This was done not only to identify anyone who may have benefited from theft of monies, but to clear the good names of individuals who were not involved. We believe a complete accounting of who may have been involved will become public knowledge as the criminal process unfolds. The Forensic Auditor delivered a comprehensive report to our Legal Counsel, which has been turned over to Criminal Investigators at the Thurston County Sheriff’s Department.
The Association has filed a Criminal charge against the alleged embezzler and a prosecutor has been assigned to this case; the Prosecutor will determine which specific/additional charges will be filed. We are now waiting for a prosecutorial meeting between the District Attorney’s Office, Sheriff’s Detective, our Legal Counsel, the Forensic Auditor, and Clearwood Management. On the assumption the County Prosecutor takes over the Criminal Case, the cost for prosecution rests within the County. We will reserve all rights to civil action at completion of the criminal case.
In an aggressive attempt to recover stolen funds, the Association has opened two insurance claims, obtained approx. $50,000 from the alleged embezzler’s real property (which are being held in trust pending the outcome of this process), and are reviewing insurance policies from contractors that may have been involved. The Association considers all options open and to be considered in regard to retrieving our stolen monies.
If you have any questions, please contact the General Manager at firstname.lastname@example.org.