An investigation into missing condo funds has led to the arrest of two defunct property management company employees.
Police said they arrested 36-year-old Devin Hill, the former owner of D&H Management.
Investigators said they received complaints from several condo associations in Plainville and Bristol regarding missing funds from their bank accounts.
An investigation into the finances of 26 condominium associations found evidence that Hill performed 133 unlawful withdrawals, diverted 343 checks and wrote 105 checks to a fraudulent account.
In all, police said he and two co-conspirators took more than $275,527.
One of those co-conspirators was identified as 26-year-old Dereck Cutone. The second has not been identified.
Hill was arrested on Monday and charged with first-degree larceny, conspiracy commit first-degree larceny, conspiracy to commit second-degree larceny and first-degree larceny. He was released after posting a $150,000 bond.
He'll face a judge in Bristol on Dec. 21.
Cutone was also arrested on Monday and charged with second-degree conspiracy to commit larceny. He was released on a $5,000 non-surety bond and scheduled to make a court appearance on Dec. 21 in Bristol.
Joe Barbagallo said he gets ticked off every time he looks at the siding outside his home.
“It's a little bit of a hassle seeing that every day comparing it to the condos next door,” Barbagallo said.
When Barbagallo said he bought the home at Colonial Commons the condo association told him they would replace the siding and garage door immediately. But that hasn't happened.
“We were told that there was no money to get it done basically because the guy embezzled all the savings that the condo complex had,” Barbagallo said.
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