Local

Funds Missing From Hollymead Homeowners Association

Funds Missing From Hollymead Homeowners Association

A report of missing money from a local homeowners’ association. Albemarle Police are investigating are investigating $73,000 in unauthorized transactions from the bank account of the Hollymead Citizens Association Board of Directors. An audit identified transactions over a four-year period. The Daily Progress reports the association was eventually reimbursed $25,000. That leaves about $48,000 unaccounted for. Albemarle Police Sgt. Darrell Byers told the Daily Progress that an investigation is going on, but he declined to release details. A local management company has handled the association’s finances since February.