Twin Falls man accused of stealing $20K from homeowners association
A Twin Falls man is being accused of stealing more than $20,000 from a mobile homeowners association in the form of overcompensation.
Eddy D. Packham, 55, posted bond on Monday and had a walk-in arraignment Thursday on a felony theft charge for unauthorized use of funds allegedly used for overpayment, paying personal bills and credit card debts.
According to court documents, in August 2013 Packham was elected as president of a homeowners association and was paid $200 per month to fulfill the duties.
For about two-years, a witness said Packham preferred to host meetings of only the executive board members with no resident members of the association present. The witness told police, treasurer’s reports were never presented at the meetings.
In June 2016, a board member asked Packham how much money was in the association’s bank accounts and he allegedly answered “very little,” court documents said. At that point, board members suggested an audit be done. Packham allegedly told the board members the records had been taken to his tax preparer.
Another executive member proceeded to gather bank statements for the association’s accounts, along with copies of checks and deposit slips. The person allegedly found unauthorized checks made out to Packham. Another former board member and accountant was also asked to review the documents.
The documents showed unauthorized payments and reimbursements made to Packham. Some of the purchases, Packham claimed he’d received board approval for, such as a $4,000 ‘loan’ to pay medical bills, which the board denied having approved or would have ever approved. According to court documents, there was no indication the loan had ever been paid back to the homeowners association.
From January 2014 to June 2016, at a rate of $200 per month, Packham should be received a total of $5,800. According to a probable cause affidavit, Packham allegedly took and excess of $20,441.97 from the homeowner’s association to deposit into his accounts and to pay retailer credit card bills.
Other checks indicated as reimbursements for repairs, maintenance and community association improvements were not included in the above amount and are not being disputed, according to court documents.
Packham’s preliminary hearing is initially set for Jan. 20, and has been rescheduled for March 24 at 8:15 a.m. before Judge Roger Harris at the Twin Falls County Courthouse.