Milford Resident Admits Embezzling From Ct Condo Associations
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that DAVID LIPTAK, 49, of Milford, waived his right to indictment and pleaded guilty today before U.S. District Judge Jeffrey A. Meyer in Bridgeport to one count of interstate transportation of money obtained by fraud.
According to court documents and statements made in court, LIPTAK was employed by Consolidated Management Group (“CMG”) of Westport. CMG provided management services to condominium associations, including managing the bank accounts and expenses of the associations. From approximately June 2008 to March 2012, LIPTAK embezzled approximately $108,000 from CMG.
Judge Meyer scheduled sentencing for August 6, 2014, at which time LIPTAK faces a maximum term of imprisonment of 10 years and a fine of up to $250,000.
This matter is being investigated by the United States Secret Service and the Westport Police Department. The case is being prosecuted by Senior Litigation Counsel Richard J. Schechter.
Associations that had been manager by CMG include Whitney Glen and Strathmore Lane in Westport, Crowne Pond Assn. Inc, Wilton Country Place Condo Assn., Shelton Clarmont Condominiums, Norwalk (that is the correct spelling) Fawn Ridge, Norwalk Chateau Condominiums, Bridgeport Fairfield Colonial Gardens, Fairfield Long Hill village, Trumbull Birchwood townhouses, Westport Trumbull Townhomes, Trumbull Ettl Park Condo Association, Greenwich Pheasant run, Greenwich Greenwich Green, Greenwich
Has this case also been reported to the Dept. of Consumer Protection which regulates property managers?
Unit owners need more protection from unscrupulous property managers and boards. Legislators, establish an Office of Condominium Ombudsman to help protect the interests of unit owners.
Interesting question would be “so where is the rest of the embezzled money?” Has CMG made full restitution?
mandatory audits from a approved accountant, and/or unit owners should be able to see the bank statements ONLINE, every month. Is it not our homes? Is it not our money being spent?