Community manager accused of embezzlement loses license, fined

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Thursday, July 30, 2009 | 1:15 p.m.

A woman accused of embezzling more than $100,000 from the five common interest communities she managed has lost her state license and been fined $15,000.

Regina M. Serrano did not appear before a meeting of the state Commission for Common-Interest Communities and Condominium Hotels to contest the charges.

The commission revoked her community manager certificate, ordered her to repay the money taken and assessed her $2,425 in administrative costs.

The complaint against her said she took the money from Bluffs Village II HOA, Glenwood Village Community Association, Montaire Community Association, Tantara Unit Owners Association and Legacy Highlands Property Owners Association.

The complaint, filed by Senior Deputy Attorney General Nancy Savage for the state Real Estate Division, said Serrano was employed as a community manger by Excellence Community Management. She has since been fired.

The commission, meeting this week, also ordered the real estate division to turn over its evidence to police for possible action.