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Is this legal/ fraud?

  • 12-07-2012 10:59pm
    #1
    sickpuppy32
    Registered Users, Registered Users 2 Posts: 507 ✭✭✭


    What recourse does a resident/shareholder of an estates management company have if they they discover the management company has been overcharging them?
    For example charging its residents a combined charge of 12,500 a year for public liability insurance when it only cost them 2500 a year?
    What would be the recourse if you discovered the company director was also using that insurance to cover private properties he owned.


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,494 ✭✭✭✭Victor


    On the face of it, it is at least a misuse of company funds. You would be well advised to at least bring the matter to the attention of the company's auditors and the rest of the directors.


  • #3
    sickpuppy32
    Registered Users, Registered Users 2 Posts: 507 ✭✭✭sickpuppy32


    the company's auditors say the books are correct and show the "real" cost of the insurance (2500). It was the bills they sent us that said 12500. As regards to the other director - he is also an employee of the first director and is un-contactable. Contacted the director of corporate enforcement and they dont want to know.


  • #4
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


    It's a Foss v Harbottle issue or perhaps a s205 issue. The MUDs Act might also apply.

    Speak to a solicitor immediately. This is reasonably complex issue.

    EDIT: I say issues a lot


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