Authorities Investigating Money Missing from Rockville Homeowners Association Finances
Management at King Farm found discrepancy
FROM KING FARM WEBSITE
Police and prosecutors are looking into why money is missing from the homeowners association’s finances at King Farm in Rockville.
A report by NBC4 of Washington on Wednesday put the amount of missing money at “more than $100,000,” but there is no specific amount yet. Ramon Korionoff, a spokesman for the Montgomery County state’s attorney’s office, said Wednesday that that figure might be close, but there’s no way to be sure until a detailed financial analysis is done.
Korionoff said he couldn’t comment yet on specifics of the case and whether someone will be charged.
The state’s attorney’s office will decide on possible charges after tracking down leads and talking to witnesses, he said.
Rockville police started the investigation, then included the state’s attorney’s office a few weeks ago.
Jennifer Gilmore, the general manager of the King Farm development, said she couldn’t talk about the investigation, but provided a statement released by the Citizens Assembly, as the association is known.
The statement says the management found a discrepancy in the Citizens Assembly’s receipts in August and has been working with law enforcement, the prosecutor’s office, an insurance carrier and forensic accountants to figure out what happened.
“The Assembly is not under investigation,” the statement says, disputing the NBC4 report’s headline, which says “Rockville HOA Under Investigation After More Than $100K Missing.”
The full statement is:
KFCA Statement regarding NBC NEWS4 Report
In August of this year, Management found a discrepancy in the Assembly’s receipts for additional income items such as advertising in the Assembly newspaper, producing resale packages, and community center rentals. This does not involve receipts of assessments paid by owners in King Farm.
Since then, the Board of Trustees, President, and Management have been working with Rockville City Police, the Montgomery County State’s Attorney’s Office, the Assembly’s insurance carrier, and forensic accountants to determine the extent and cause of this discrepancy. The Assembly is not under investigation. The Assembly has been advised by all of the legal authorities involved in the investigation to await the results, before the Board and Management make any comprehensive public statement. The investigation is underway, but not completed.
Your President and Board of Trustees will continue to pursue this matter fully with the above authorities and with its insurance carrier to assure that it recovers any amounts in question.
Since the investigation is ongoing, the Assembly, on advice of the above authorities, is not at liberty to say more at this time.