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$2 Million in Financial Irregularities Since Frank Barry Became Manager -- Why the Board Won't Let Owners Examine Books

 

 

 

 

George Simpson, Owner of Unit C-4, has discovered extensive financial irregularities and embezzlement, estimated to add up to over $2,000,000 since Frank Barry became manager of SBCW. Continued denial of his right and the right of owner Bill Dzio to examine the books in detail is preventing him and Mr. Dzio from further documenting these financial irregularities and therefore is an obstruction of justice.

Why does the Board of SBSC continue to break the law by preventing the Audit that is Mr. Simpson's and Mr. Dzio's right under the law to perform? They have big irrigularities to hide.

The Condominium Law of the Virgin Island allows any owner to examine the records of the Condominium Association.

Section 919 of the VI Code, Condominium Act;

Books of receipts and expenditures; availability for examination; annual audit

“The manager or Board of Directors, as the case may be, shall keep detailed, accurate records in chronological order, of the receipts and expenditures affecting the common areas and facilities, specifying and itemizing the maintenance and repair expenses of the common areas and facilities and any other expenses incurred. Such records and the vouchers authorizing the payments shall be available for examination by the apartment owners upon reasonable notice in advance at convenient hours of week days. An annual audit by an independent auditor shall be made of the books and records.”

The Board of Directors -- by letter from each one of them -- continues to deny George Simpson his right to examine the books.

See the letters which unlawfully prevent George R. Simpson from auditing the books of SBCW:

Letter from Steven Kershner (Elected in violation of Bi-laws Click Here)

Letter from George (Bud) Wood

Letter from Steven Sokolow

Letter from Jack Donohoe

Letter from Edith Rohrman