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Treasurer accused of stealing HOA fundsTue, 12/16/2008 - 4:59pm
By: John Munford
A Peachtree City man has been charged with 16 counts of fiduciary theft for writing $29,000 in checks from his homeowner’s association to himself and two of his companies. Neither of John Allen Koval’s companies appeared to have done any business with the Smokerise Plantation Homeowner’s Association, said Capt. Rosanna Dove of the Peachtree City Police Department. The 16 checks ranged in denominations from $79 to about $7,000, Dove said. Koval, 45, of Smokerise Trace, turned himself into the Fayette County Jail Nov. 23, police said. Koval has since been removed as treasurer of the association. In a letter to Smokerise homeowners there was reference to a “repeated” interruption of services such as water and electric utilities. There was also mention in that letter of cash deposits being made into the association’s accounts even at times of the year when the association was not collecting any funds. The criminal investigation began when the president of the homeowner’s association was notified by a lawn care service that the association’s bill was three months overdue, police said. It turned out that the association’s bank account, which was supposed to have about $10,000 only had $370, police said. Other than those written to Koval himself, the other checks were written to his companies called Baldwin Tays and Specialty Equity Partners, police said. Both businesses are registered to a post office box in Tyrone, according to filings with the Georgia Secretary of State’s office. The checks that have been called into question were written in the past year or so, police said. The first report filed on the matter was recorded Oct. 28, police said. login to post comments |