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FBI Raids Las Vegas Condo Association-Alleged Embezzlement

New embezzlement story out of Las Vegas. The Nevada Attorney General’s Office, with the assistance of the FBI, served a warrant at the Paradise Spa Homeowners Association on Las Vegas Boulevard South near Serene Avenue.

Owners allege the association’s board embezzled more than $1 million of their money.

The news story reports that several units were destroyed by two fires in 2009 and 2010, and the insurance company paid $842,000 but nothing has been repaired.

According to resident Bill O’Donnell, a former Nevada state senator, the HOA had nearly $1 million in cash and HOA fees that have gone missing. He appealed to the Attorney General’s office to take action about a month ago.

Follow this link to watch video news coverage of the story.

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