January 17, 2026 | Mark Luis Foster
A year ago we were all wondering if the dreaded Corporate Transparency Act (CTA) was going to go away. That piece of federal legislation required HOA leaders, along with business owners, to register as part of an anti-money-laundering effort under the previous Administration. Many of us, including me, were against the legislation’s requirements for HOA leaders, given the fact that if a board leader was going to launder money, an HOA might not be their best bet anyways. As we all know, CTA did not come to fruition.
But fraud can still happen, and now we have learned about a major embezzlement scheme from an HOA property manager in Loveland, Colorado, that is now estimated at $650K. That, my friends, is a lot of HOA money stolen.
From Channel 9 News in Denver:
On January 9, 50-year-old Sandra Oldenburg pleaded guilty to two felony counts of cybercrime and tax evasion. As part of her plea deal with prosecutors, 16 remaining counts were dismissed in Larimer County District Court.
That wayward property manager is still free on bond, but will be sentenced in March due to the fraud she perpetrated on multiple HOAs in her jurisdiction.
According to the report, residents began noticing landscaping projects and maintenance were not being completed, and contracted gardeners were not getting paid. Then the HOA dues started going up. Someone from the local Johnstown Police Department stated that at least eight HOAs filed complaints about the fraud.
Her sentencing will involve jail time and a big payback bill.
When Oldenburg is sentenced in March, she is expected to receive some jail time and has been ordered to pay $649,145.11 in restitution, according to a spokesperson for the Larimer County District Attorney’s Office.
Seems like we are not the only state dealing with various fraud. But from an HOA standpoint, this one really hits close to home.
Read and watch the News9 Report HERE.
