where are the coop shareowner lawyers? there are none! this is how coop boards and managing company’s act

reality is the boards and manging companies commit fraud, wide scale, on all levels, and even when they are reported, the AG the DA refuse to do anything.
This coop which was taking over by a grifter family, this happen, since there is zero state oversight.
they have been telling buyers the building was 90% owner occupied, in reality it was lower than 60%. I had my letter concerning this posted in the NY times co-op Q&A, the white shoe law firm lawyer that answered it, said this was c and i should contact the local DA office. I did , the Westchester DA said they didn’t handle that kind of stuff , i guess they don’t handle mortgage fraud?
So reality is these people lie to you, commit fraud and there is not one state agency that will do a damn thing.
the coop refuses me the right to inspect the financial, it in the proprietary lease, the attorney general said they don’t get involved, hire a lawyer, the lawyers want over %000 with they say no chance of getting your money back.
the vice president has been claiming a apartment was unsold shares for over 25 years, , yet i know it is not unsold shares and we are owed rent on it , , the managing company is in conspiracy with these thieves.
complain about this grifter board self dealing, i get false parking tickets from a vehicle that had its plates and reg turned in 2 years prior, the coop had the car info , and i got my car insurance mailed to a different address and the start of id theft. these are your board presidents.


New York State Attorney General will not enforce shareholder’s right to see financials

In effect NYS is allowing the fraud to continue unchecked and the shareholders to be fleeced.
The AG tells you to hire an attorney, the attorneys wants about $5000 and they tell you that you will not be reimbursed for your fee’s. This is what happens when the coop attorneys work for both sides of the fence.
Since most of their work is for the Boards, they don’t want to ruin their feathered beds. This is a big conflict of interest

NY Lawmakers have pulled the biggest real estate fraud on its taxpayers

in the 1980’s while Mario Cuomo was NY Governor, there was a huge drive to convert many rent stabilized buildings to cooperative apartments, 1000’s were converted. Many were working class buildings.
Since that time there has been no state agency to oversee the complaints of shareholders concerning the management of their building and money. This became very evident when Andrew cuomo was AG , but the AG’s office has refused to even look into complaints of self dealing, conflicts of interest, fraud, mortgage fraud.
There is this huge real estate money sucking black hole and no government oversight. The management companies, many who were the original sponsors have tuned the building into a huge cash cow.

It is the the perfect arena for theft, since shareholders are scared to make noise and lose their investment.
The yearly audit is a pure pony show, as they just OK the documents that are given to them, they perform no investigative work

Think about it, hand over the reigns of the buildings to board that no nothing, the answer is all fraud.