RESIDENTS DON'T CARE, FEW ATTENTED MEETING, SOUNDS LIKE ASHTON

Article Courtesy of The Herald Tribune
By Kate Spinner
Published September 19, 2008

Residents of the Charlotte Square Condominiums are angry and concerned after learning that hundreds of thousands of dollars from several of the condominium association's accounts have reportedly turned up missing.
Losses at just one of the nine buildings in the 55-and-older complex are estimated at more than $140,000. Losses at the other buildings have yet to be tallied, but some residents estimate the figure is nearly $1 million.

The missing money apparently came to light three weeks ago when the treasurer of the Charlotte Square Condominium Association -- an 88-year-old volunteer who did not want to be named -- noticed what appeared to be bounced checks and reported the discrepancy to the property management agency.

In the ensuing days, the agency, Star Hospitality Management of Punta Gorda, fired an employee who handled banking and billing for the complex, according to several residents who are active in the condominium association.

Sherry Danko, president of the management company, would not comment Wednesday, except to say that an investigation is under way. She would not say whether the Sheriff's Office had been notified.

Officials with the Sheriff's Office on Wednesday could not immediately locate any complaints about the missing funds.

Two weeks ago, Danko held a special meeting to tell residents that money was missing.

Few attended, said Doris Pistel, an active resident who took notes at the meeting.

"Star Management has dismissed" the employee "and filed a case with police," Pistel wrote in her notes. "There has been stolen money and bounced checks. Suspect cooked bank statements."

She also wrote that insurance bonds would cover each building in the complex up to $50,000, a far cry from the amount that appears to be missing.

Each building has its own condo association that collects fees from residents for utilities, maintenance and repairs.

Star Management, however, has been handling all of the finances for over a decade.