Wednesday, October 25, 2017

$100,000 of King Farm HOA funds missing, Rockville police investigating

Storm clouds gathering over
King Farm after $100K goes missing
Rockville police have opened an investigation after $100,000 in King Farm homeowners association funds went missing. According to NBC Washington, detectives are in pursuit of a former employee of the association, whom they want to interview. No suspects have been publicly identified. Residents have expressed dismay that they were not informed of the missing funds earlier.

The King Farm Citizens Assembly has posted a statement on its website to declare it will not comment publicly until the investigation is complete. It states that the Assembly learned of the missing funds in August, but does not mention who was responsible. Contrary to the NBC Washington report, the Assembly denies that it is under investigation, but rather cooperating with police in an investigation.

"Since the investigation is ongoing," the statement concludes, "the Assembly, on advice of the above authorities, is not at liberty to say more at this time."

2 comments:

  1. I'm totally certain King Farm carries D&O and Employee Dishonesty insurance policies. $100,000 is a lot of money but it's a fractional amount of the HOA's budget.

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