Wednesday, August 3, 2011

Is Mara Feldman-Fox a Thief? & Fox Management Group Defaults, OWES OVER $122,000! (#738)

We don't know.
The reason we don't know is due to Mara's failure to provide complete financial records as required by law.
Her year-end statements are a joke, looking like a ten-year old playing on the computer with Quicken.
(There's no listing of checks or disbursements, no itemization of expenses.)
Feldman-Fox has refused numerous lawful requests for information, or has charged $75 per hour when she bothers to respond!
And, according to the Board Meeting Minutes, there has never been an independent audit done of the Claremont Condo books, even though industry "best practices" standards recommends one at least every five years (if not more often) to detect potential and actual fraud and embezzlement!
According to noted expert Mark Pearlstein. "A condominium association is not legally required to have an audit, but should have some form of yearly independent accounting examination."
(Claremont Condos was incorporated in the late 1990s, so you do the math. God knows Mara won't...)
In the meantime, while Board members can't even afford air conditioners, Mara and family are taking international vacations.
(She told attendees at one Board meeting the Foxs had gone to Istanbul!)
When the servant is living better than her employers, there's probably something fishy going on...

Wednesday's total for Fox Management Group's still-unpaid bill from July, 2008 (almost three years ago!)...$122,091.48 from an original $75! 
They've broken the $122,000 level! Now that the 1% per workday cumulative late fee is over $1200, it's really mounting up, at a rate of $6000+ a week! That's over one hundred and thirty times the amount they originally owed!
It's over 700 (SEVEN HUNDRED) late charges, and now the amount (with late fees) is over 1300 times the original bill...
Isn't that just pitiful?
But then, what can you expect from Mara Feldman-Fox, someone with only a bachelor's degree in accounting and NO other accreditation, whatsoever?
I hope for her sake Mara's better with her library books and DVD rentals! 
But I doubt it... ;-)

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