Stone Property Management Arrests
Waterville Skier

Mountain View, CA

#22 Oct 22, 2012
Almost comical...who would SPM be doing business with? And without any computers or files? Or maybe the better question is who in their right mind would be doing business with SPM now? And it also sounds like a some of the associations have (thankfully) gotten their keys back - guess no business going on there.
local resident

Worcester, VT

#23 Oct 22, 2012
I know some of the employees. Door were closed friday. employess got their last paychecks in cash all layed off...
MR WV Condo Owner

Manchester, NH

#24 Oct 22, 2012
I was just in my unit and heard a squirrel running around in my ceiling, called Stone to let them know...now I realize nobody is checking on it and the thing might be destroying my condo.
WV Res

Manchester, NH

#25 Oct 22, 2012
Waterville weekender you are 100% correct. Defense attorney is most likely waiting for a call from the authorities to turn in his/her client/s.
Fred

Providence, RI

#26 Oct 22, 2012
Are there any good/accurate sources of information? What dot he realtors and locals have to say?
Waterville weekender

United States

#27 Oct 22, 2012
"Local reseident": Very sad regarding Stone employees. They are good people and helped me with my WVV property many times over the years. Hope they land on thier feet soon. "WV Res": you are correct. I have found no accurate info source. Wish the town would step up and facilitate a line of communication amoung condo associations. Many property owners are from out of state and gathering facts is a challenge.
MR WV Condo Owner

Manchester, NH

#28 Oct 22, 2012
local resident wrote:
I know some of the employees. Door were closed friday. employess got their last paychecks in cash all layed off...
I hope many, if not all, of these folks will be hired by the new management companies that step in...makes sense to me because they will know the properties and won't have to start fresh.
MR WV Condo Owner

Manchester, NH

#29 Oct 22, 2012
Is it possible that the Sununu family will get involved to help with this mess, even if just to help with getting information out? They have been very good to WV property owners the last couple of years.
Billy

Lincoln, NH

#30 Oct 22, 2012
Lead story on WMUR tonight at 6:00
local resident

Worcester, VT

#31 Oct 22, 2012
It's to bad that the new management had to put Bill Stone through this. He is a real nice guy that wanted to enjoy his retirement....
local

Womelsdorf, PA

#32 Oct 22, 2012
cant believe this is a surprise to anyone that has spent some time in this area
local

United States

#33 Oct 22, 2012
Sounds like they are throwing the wife under the bus, when anyone with a clue would know the whole family knew and was invovled. When people are in debt, as that family is, they should not have access to accts.
Yocal

Livermore, ME

#34 Oct 22, 2012
There is no "authority" that can comment at this time - other than what WV dept. of public safety director Chris Hodges reported on WMUR. This investigation will take time. Association boards are working with authorities, each other and other stakeholders in the community to deal with this situation. If you are a condo owner and have questions, I'd recommend that you contact your board although I assume they've already been in communication with you with whatever information they currently have.
Nervous in WV

Boston, MA

#35 Oct 22, 2012
Just put an offer to buy a condo run by Stone Property. What does this mean to a would be owner?
Yocal

Livermore, ME

#36 Oct 22, 2012
Nervous in WV wrote:
Just put an offer to buy a condo run by Stone Property. What does this mean to a would be owner?
This situation might affect financing. Best bet is to talk to your realtor.
Billy

Lincoln, NH

#37 Oct 22, 2012
local wrote:
cant believe this is a surprise to anyone that has spent some time in this area
Having done work for Stone Mgmt, I will say that Sean and Courtney are the most dishonest and narcissistic customers I've ever had. Most people that know them knew this was coming. My heart goes out to their victims.
Waterville Skier

Derry, NH

#38 Oct 22, 2012
MR WV Condo Owner wrote:
Is it possible that the Sununu family will get involved to help with this mess, even if just to help with getting information out? They have been very good to WV property owners the last couple of years.
Hmmm...I don't think so Good one MR WV Condo Owner - check this out:
http://www.wmur.com/news/nh-news/Problems-inv...

Pay attention to the last few sentences as well as the final statements on the video - there is some SERIOUS "damage control" and "distancing" being done by Sununu.

Sorry to say...no help coming from Sununu...
Waterville Skier

Derry, NH

#39 Oct 22, 2012
Yocal wrote:
<quoted text>
This situation might affect financing. Best bet is to talk to your realtor.
Unfortunately the biggest issue is probably going to be the solvency of the condominium complex. At least in my experience, the bank will want to see that there are enough reserve funds to cover a major expenditure like a new roof or major maintenance work item. Now that SPM has stolen all the reserve funds, banks might have second thoughts about giving you a mortgage. PLUS...all of us condo owners impacted by this crime will probably be facing a special assessment to cover the lost money - I am figuring about $2K for folks in my complex.

So unfortunately SPM's criminal actions have far reaching effect on owners, sellers and buyers....
Waterville Mike

Boston, MA

#40 Oct 22, 2012
Owners should also be looking not only at Stone, but also at their own Associations. If the story in the Pemi is correct, Madriver Association had not received a bank statement for three months. Why does it take three months for the Elected Board Members to sound an alarm bell? Elected Boards of the Associations have to share in some of the blame for this happening if they were not fullfilling their fiduciary duties to the Association.
local resident

Worcester, VT

#41 Oct 22, 2012
I am suprised i has taken this long. Knowing workers that were employed there, payroll checks were being bounced. At least once a month. Sub were not being paid or were asked to hold on to them. But Sean had no problem with buyin sean tix to the patriots and betting on superbowls and Cortney driving her new caddy. Money was taken from employee's insurance and 401K's. Labor Board was called many times but they would always have everything OK when they would get there. Guess we now know where the money was coming from...

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