Real estate manager loses license for embezzling funds
Article Courtesy of The Herald-Sun  -  Aug 1, 2002 
DURHAM -- Durham real estate manager William Edward Black was stripped of his license Wednesday at a state Real Estate Commission hearing in Raleigh. 

Black, who was not at the hearing, was accused of writing nearly $10,000 in checks from several accounts he managed for community associations that are part of larger Villages at Cornwallis community and of failing to properly manage a rental unit for a private owner. 

The ruling means that Black cannot sell real estate or manage rental properties in the state. 

He could still manage subdivisions, said Miriam Baer, assistant director of the commissionís legal division. 

Black could not be reached Thursday at a number listed under William Black in Durham. 

According to a police report filed in February 2000 on behalf of the Tarleton West Homeowners Association, which is located in the Villages of Cornwallis at 3400 Yorktown Ave., money was embezzled from Nov. 1, 1999, to Feb. 17, 2000. No one was arrested in the case, a Durham police records clerk said. Baer said Tarleton was one of the communities involved. 

Black wrote checks to himself, Baer said. He also wrote checks to others, purportedly to seal a roadway inside the subdivisions. The work was never done, Baer said. The commission saw the cancelled checks at the hearing, Baer said. 

Black was also accused of "failing to collect rent proceeds and a security deposit and lease document from a tenant for an owner he managed a property for," Baer said. "His job was to get a tenant into [the property] and collect the rent." 


COMMENT
It sounds like somebody pulled the plug? But how can it be that they are pulling his real-estate license, while he can continue to mess with homeowners' association finances? But, there seems to be a pattern, government agencies don't want to deal with the problems and will most likely claim that they have no jurisdiction.

Like the case in Florida, where an ex-con, who had served jail-time for embezzling homeowners' association funds up North, applied for and received a CAM (Community Association Manager) license and went straight back to his old tricks - embezzling money from homeowners' associations.
 

Click to Read: EMBEZZLEMENT CASES IN ASSOCIATIONS