May 18, 2010 - One hundred people attended on April 17 at the spring conference of the Regroupement des gestionnaires et copropriétaires du Québec (Coalition of managers and owners of Québec) RGCQ. They listened to lectures from four specialists on the issue of fraud in co-ownerships.
"This housing formula is a beautiful playground for scammers," said Elise Beauchesne, Chartered Accountant (CA) and lecturer at the symposium. Potential suspects may be members of the Board, co-owners, the building manager, service providers and third parties.
In case of any doubt on the integrity of a person, Elise Beauchesne suggests analyzing his behavior to detect possible fraudulent acts he may have committed. For example, fraudsters do not like to delegate tasks. In addition, they change their lifestyle or attitude, hide financial information and carry out unwarranted banking transactions.
While it is not always easy to prevent, at least, certain actions help reducing the risks, for example check the court records of an aspiring member of the Board of Directors. Available at the courthouse, they reveal his judicial record, if any, and why he had to attend in court.
Inquiring about a candidate's credit rating is also a wise precaution, and in addition consulting the Internet is another source of information to expose dishonest people. "If they have committed illegal acts, they may have made headlines," says Elise Beauchesne.
Montréal, May 18, 2010
