Property manager gets 35 years for HOA theft
HOUSTON (KTRK) -- Hundreds of homeowners are learning that their homeowners association fees didn't go to the improvement or upkeep of their neighborhood. Instead, a man has admitted to taking the money and they'll never see it again.
Investigators say that property manager admits he took advantage of a lot of innocent and hardworking homeowners. And now they say he's paying the price with prison time.
Property manager Taggert Mayfield was sentenced to 35 years in prison Friday for stealing a major amount of money from numerous homeowners associations who hired his company, Arrow Community Management.
"We were devastated," Realtor April Fontenot said.
Realtors and upset neighbors in communities like the Avalon and others across Katy have been buzzing about Mayfield, his now closed office, and their missing HOA money for months -- money they were duped out of that was supposed to go toward neighborhood maintenance and upkeep.
"When someone comes in and a property management company takes your funds away, then that's going to hinder you from operating," Fontenot said.
Taggert took a plea deal, telling a judge he is guilty of theft, misapplication of property by a fiduciary and money laundering.
According to Fort Bend County prosecutors, Mayfield managed about 15 to 20 HOA's. They say he took around $2 million.
"We're just happy that at least we are getting some justice, and glad to know he didn't get away with this because it really did affect a lot of neighborhoods and a lot of homeowners," Fontenot said.
Fort Bend County District Attorney John Healey Jr. says he wants Mayfield's victims to know it will be years before he is considered for parole.
Healey says his office will be firing off a letter to the parole board, urging it to make sure Mayfield serves the vast majority of his sentence.
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