Disappearing funds in their bank accounts have raised concerns across Collier County.

"Honestly, it's scary," Lisa Venn said. "I'm not going to lie. It's a scary thing to happen."

The issue for Venn, 62, and for residents of at least 30 other Collier County condo and homeowners associations are funds that have been discovered drained from operating and other accounts.

Venn lives at Royal Bay Villas, a condo development on Sandpiper Street near downtown Naples.

American Property Management Services of Naples is accused in a civil lawsuit of draining the accounts and is subject to a temporary restraining order. The order includes Orlando Miserandino Ortiz and his wife, Lina Munoz Posada, acting as officials of APMS. The amounts could scale into the millions.

"We just found out Dec. 28," Venn said. "Pretty crazy."

Venn said that while there's nothing physically visible at her development that is evidence of the alleged crime, the aftershock of the missing funds is what provides the scare.

"I have to say our board has done a stupendous job in mitigating risks to us to the best of their ability," she said. "Making sure we have a new management company, making sure our accounts are frozen, hiring an attorney."

The board contacted all the development's vendors to keep them apprised and notified the association's insurance company.

An issue for those who ive at Royal Bay Villas, a condo development on Sandpiper Street near downtown Naples, and for residents of at least 30 other Collier County condo and homeowners associations are funds r=that have been discovered drained from operating and other accounts.


"Thank God he (Ortiz) paid that bill," Venn said, otherwise Royal Bay Villas could have found itself in very deep financial waters as at least one other community did.