Monday, June 12, 2017

Ex-HOA Treasurer Gets 10 Months Jail Time For $50K Theft From Condo Association Bank Account; Avoids Stiffer Sentence By Agreeing To Cough Up $30K In Upfront Restitution With $300/Month Payment Plan Until Pilfered Loot Is Repaid

In Boynton Beach, Florida, the Palm Beach Post reports:
  • A former treasurer of a Boynton Beach homeowner’s association admitted Tuesday [June 6] that he embezzled over $50,000 from the HOA, court records show.

    Norman Glavas, 70, of Boynton Beach, pleaded guilty to one charge of grand theft over $20,000 and will serve 10 months in jail, 70 months of probation and repay $48,179.26 in restitution to the Quail Run Homeowner Association. Glavas committed the crime from 2012 to 2014.

    According to his plea agreement, Glavas will return $31,000 to the association immediately in a lump sum payment through a trust controlled by his attorney. He will make $300 payments monthly to pay back the remaining amount after completing his jail sentence, and must remain employed until the entirety of the restitution is paid.

    He also is required to serve 250 hours of community service and pay $250 in court fees.

    Glavas was first arrested in May 2016 on charges of organized fraud, money laundering and grand theft. An arrest report shows that as treasurer of the homeowner association, Glavas made checks out to himself from the association’s funds.

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