Ridgeland subdivision homeowners association sues property managers for possible fraud
RIDGELAND, Mississippi (WLBT) – The Madison County Major Subdivision Owners Association is suing its property managers.
The Bridgewater Homeowners Association is suing Ridgway Lane, which has managed their properties since its inception.
Now other neighborhoods under his management are also discovering financial problems.
The lawsuit filed in Rankin County by the Bridgewater Homeowners Association names David Lane and his son, David W. Lane, of Ridgway Lane, as defendants.
The lawsuit says members of the Bridgewater board attempted to obtain financial records from Ridgway Lane in September.
They say David Lane was uncooperative and wouldn’t give them access.
Upon further examination of their records, they claim that Ridgway Lane transferred over $ 100,000 from their bank accounts without their knowledge.
They also say that a deposit of $ 117,000 at the community bank is missing.
The homeowners association claims to have suffered financial losses of more than $ 500,000 with Ridgway Lane transferring funds from their accounts.
Residents were shocked at the news of the possible fraud.
Bob Sauer, a Bridgewater resident, said: âIt really makes you wonder why would they be so reluctant to not allow the homeowners association, which is the money, to not have access to the records, to the bank statements and pretty much everything. . “
WLBT News has also learned that Ridgway Lane operates the Dinsmor and Palisades neighborhoods.
These homeowners associations also sent letters to their residents letting them know they were reviewing their financial records. Dismor representatives say they have found substantial financial gaps.
The representatives of the Palisades tell us that they are just starting their audit.
We went to the Ridgway Lane offices in Flowood to speak with David Lane but were told he was not there. We are still awaiting his return.
The court has now ordered Ridgway Lane to turn over all financial documents relating to the Bridgewater Homeowners Association.
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