Missing Funds Probed from Albemarle Homeowners Group

CHARLOTTESVILLE, Va. (AP) - Albemarle County Police are investigating $73,000 in unauthorized transactions from a homeowner association's bank account.

The Hollymead Citizens Association Board of Directors told residents last month about the missing funds. An audit in June by a Charlottesville accounting firm identified the transactions that were made from 2008 to 2012.

The Daily Progress reports the association was eventually reimbursed $25,000, leaving about $48,000 unaccounted for.

Albemarle County police Sgt. Darrell Byers confirmed an investigation is ongoing but declined to release details.

A Charlottesville management company has handled the association's finances since February. 

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: The Daily Progress, http://www.dailyprogress.com

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