Sunday, April 25, 2010

"Win-Win-Win" - The Michael Comer Embezzlement Scandal Forces Developer to Sell Glenmore Country Club

Rather than dwell on the family tragi-scandal that has resulted in his brother-in-law Michael Comer pleading guilty to embezzlement and money-laundering, engendered the sale of four family properties, and caused a swirl of rumors, RE III BHG CEO Jeff Gaffney takes the optimistic businessman's view.  

Gaffney, a head of Glenmore Associates, the developer of the gated community, said of the Country Club sale:
"We see it as a real plus for the Glenmore Community, the country club, and Glenmore Associates.  This is a win-win-win situation and it's nice to have something like that happen."
Read details of the purchase, the response of the Homeowners Association, and comment by the new buyers in this DP article.  Read about the 'far-reaching' damage of the case in this DP article.

Read about the publically known "Lose-Lose-Lose-Lose-Lose" parts of this scandal:
Comprehensive coverage of the Comer scandal, including the internal audit, unanswered questions, etc., may be found here.

6 comments:

Anonymous47 said...

Was Comer set up by the family?

Anonymous said...

Where's the FBI? IRS? Alb Cnty tax assessor? VA tax authorities?

Comer's lawyer said he was channeling funds to the Developer. Really? Nobody over there noticed?

Anonymous said...

Took more than originally thought . . . $738,000. Big number, wonder if Glenmore Associates business partners were investigated to rule out collusion. Seems too easy that the theft was contained to the HOA and the work of one man.

Anonymous47 said...

How could the family not have known what was happening? How convenient Comer disappeared for a month.

Anon Girl said...

Did they ever saw where he was hiding during that time? He hardly looks like the outdoors type. Was he staying with someone out in Wintergreen? Also, did he answer to anyone in his role as HOA President? If so, how could they not have known the money was missing. Same with the channeling of funds to the developer. Did anyone notice?

Anonymous said...

The whole situation needs an in-depth look. Probably more there than meets the eye.