Mississippi Real Estate Firm Sued by 9 HOAs Over Missing Funds

A ninth homeowner’s association is suing a Mississippi real estate company over missing funds.

The Clarion Ledger reports the lawsuits filed against Ridgway Lane & Associates allege the company stole more than $1.6 million from Jackson-area HOA bank accounts. The lawsuits name the company, several John Does and the company’s president and vice president, David L. Lane and his son, David. W. Lane.

A company official told the newspaper last month that the younger Lane no longer works for the company. It’s unclear when he left his position or if the move was related to the lawsuits.

HOA attorneys told the court last week that the Lanes put their homes up for sale days after the first lawsuit was filed Nov. 6. The Lanes are expected in court next week.