Thursday, June 04, 2015

Partners In Property Management Firm Get Bagged For Allegedly Ripping Off Their HOA-Clients Of At Least $100K By Systematically Using Falsely Inflated Invoices For Work Performed & Similarly Billing For Work Not Performed

From the Office of the Essex, Massachusetts District Attorney:
  • Two executives in a Haverhill-based property management company were arraigned [] in Salem Superior Court on larceny and conspiracy charges following a joint investigation by the Essex District Attorney's Office and the Haverhill Police Department.

    Andrew Raynor, 37, of Dover, NH and Matthew Dykeman, 51, of Salem, MA were arraigned [] on the indictments of Larceny by a Single Scheme (over $250), Conspiracy, and False Entry in Corporate Books charges. Additionally, Shawmut Property Management LLC, a company co-owned by Raynor and Dykeman, was charged with Larceny by a Single Scheme (over $250). Pleas of not guilty were entered on their behalf and they were released on personal recognizance.

    Following reports from multiple former Shawmut employees alleging fraudulent activity at the company, the Haverhill Police Department and the Essex District Attorney's Office launched an investigation in June of 2014. The investigation found that the owners of Shawmut allegedly systematically falsified invoices sent to dozens of the company’s clients without the knowledge of the condominium association boards or the laborers whose work was falsely inflated. Shawmut Property Management provides services to condominium associations in Massachusetts, New Hampshire and Maine.

    Essex Assistant District Attorney Quentin Weld told the court that the defendants allegedly sent false invoices for work not performed to dozens of their client condominium boards, resulting in a total larceny of at least $100,000 dollars between January of 2012 and February 2014. The funds were allegedly paid directly into an account controlled exclusively by Raynor and Dykeman.

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