Why did it take so long for the news media to report that the CEO of Certified Management, one of the state’s largest property management firms, has been fired after she reportedly stole upwards of $50,000 from several condominiums managed by her company.
Toni Floerke has admitted taking the money, according to a March 16 email to directors of around 500 condominiums managed by Certified. With a minimum of five directors at each property, that news was circulating among 2,500+ directors, and quickly spread through the property management and condominium association world.
But nothing was reported until a Star-Advertiser story this morning (“Condo management firm fires CEO after thefts“), a full 10 days after Certified announced the theft, and days after Certified began running vaguely worded full page ads touting their security and financial procedures as “the most secure in the industry,” and citing the company’s commitment to “practicing high ethics through challenging times.”
The ads ran in the Star-Advertiser and PBN. I don’t know if they appeared in neighbor island newspapers.
According to today’s S-A story by Kristen Consillio, the funds came from the accounts of at least three projects–Kulana Knolls in Kunia, Kekuilani Villas in Ewa Beach, and Aeloa Terrace in Kapolei.
All three projects list their legal contact as Candace Villarmia, longtime office manager for Certified who also serves as an account executive and manager of several projects.
Real estate records show Floerke and her former husband bought an apartment in Aeloa Terrace in 2003. It was transferred to her during their divorce proceedings last year.
With word of the theft and Certified’s announcement in wide circulation, it’s pretty amazing that it took almost two weeks to report it.
Does this reflect a weakening of beats and sources, or simply a lack of interest in condominium issues, although Hawaii is reportedly close to the top in percent of the population living in condominium communities?
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“a full 10 tens after Certified announced the theft”
should be:
…a full ten days after….
Ouch. Correction made.
The back story is that I had finished but not posted the entry when we left on our early morning walk.
When I came back, it appears a cat walked across the keyboard, filled it with gibberish, and “undo” didn’t work.
So I lost the whole thing and had to quickly try to recreate it. Not a good idea. That’s when such mistakes are easily made.
The one noted here, and I also had to correct the link to the March 16 memo.
So it goes.
Equal opportunities for cats . . . LOL.
Toni was paid very well (over $200,000 per year, car and other benefits), she had everything she wanted, spent a lot of money, the kids had everything they wanted.
However, she also asked Service Contractors to perform services for free, just because she was the CEO. My friend told me she would make arrangements with hand picked Contractors for kick backs.
The sad part about her stealing the Association’s funds is for the Homeowners like myself. Due to her greed, we couldn’t do some of the repairs on our property because we didnt have the funds – not knowing she was stealing our money set aside for those types of things. We also had maintenance fee increases because of her stealing our money.
She didn’t just cause hardship and problems for herself, she cause hardship and problems for all of us Homeowners for the 3 Associations and the Employees of Certified.
She projected an image that fooled everyone, if she couldn’t handle her personal problems, she should have seeked help, not cause hardship for others.
Look at the bigger picture, due to our maintenance fee increases, parents may have had to cut back on stuff for the family – she stole all that away from so many. She stole from so many during hard times, many couldn’t afford a maintenance fee increase.
I wonder if Certified Management was supporting any of the bills that would require out-of-state owners to hire in-state property managers.
(HB2078, SB2089, HB1707)
An electronic search of the 2,000 or more pages of testimony submitted on these measures shows none from either Certified or Floerke.
“Does this reflect a weakening of beats and sources, or simply a lack of interest in condominium issues, although Hawaii is reportedly close to the top in percent of the population living in condominium communities?”
excellent question; simple yet complicated answer: i blame a combination of weakening beats, sources, newsroom budget resources and declining public interest in things other than ourselves. very difficult problems to solve.
This is unfortunate. I was President of a CA in Makakilo in the early 90s when Toni was first hired by Certified. She was light years ahead of other managers we had worked with and helped organize the condo reserve requirement law. No surprise that she became CEO. Note that there was a divorce in her life in the past year. These things sometimes have very tragic personal effects. I know a lot can happen in 20 years, but considering the competent, personable and excellent manager I knew her to be, I hope that she can get back on track with her personal and professional life. It is a very hard business and she did much to educate and organize our community, correct our imbalances and took initiative in getting a very beneficial law for all condo associations passed. …Just another view to consider.
She was stealing back in the 90’s when I worked with her at Mokuliea Management on the North Shore. She stated getting religious and I made the statement “thou shall not steal” and she started to punch me in the parking lot.
In fact this has all the hallmarks of a personal “cracking” event and any criminality may not be the real story at all. When I read about this in PBN (don’t subscribe to SA and their damn paywall) I thought “divorce or drugs”. You were the first report I saw of “divorce” and knowing her previous level of professionalism I thought “of course”. Not sure if anybody else has ever seen this behavior from a professional in a high pressure job, but it is mostly a psychological event and a way out of the pressure. This is likely really a case of the need for rest, therapy and healing. Do wish her the best.
So that means virtue can only be expected when things are going good? Then maybe the rich should not be so lauded for their good works.
You highlight a good point. Any time there are financial challenges in one’s life, it provides the motivation for this type of thing. The other components are opportunity, i.e., lack of sufficient controls, and justification. Somehow she reasoned that it was okay to do this.
When a notary public is caught doing this stuff, is there an additional penalty? Just curious.
Evan,
PBN has been behind that “damn paywall” for 3 or 4 years already…..sorry to break it to ya.
Actually my point is that this is beyond money or reason. Certified should be paying her huge for that type of work at that level. Money is not likely her motivation. This is a person bringing themselves down, punishing themselves out of deep pain.
excellent points Evan!
I agree with Evan. I knew Toni as a loving mom and a no nonsense property manager. I know lots of people are angry and just want to punish her..but I am totally shocked at this behavior and I am also saddened by how it affects all the other employees who may lose their jobs as the trickle effect of what Toni did comes to pass. I pray for forgiveness for Toni and I also pray that she gets her life back on track! Tragic…that’s what it is in so many aspects!
I agree completely with Evan and Sharon about Toni. She was my Account Executive way back before she became CEO and is easily the best and msot professional AE that I’ve ever dealt with. This new situation is totally shocking. There is, of course, no justifiable reason ever for stealing.
I wonder if we’ll ever find out *how* she did that without being caught by either CMI’s own auditors or by the Boards of the three condos.
I also notice that Naomi Suzuki wasn’t mentioned. Naomi was Toni’s assistant for at least a decade and was as wonderful as Toni was.
Toni presented presented herself as a person of deep ethics, but more so when it suited her needs. There were signs that she often lived beyond her means, especially after the divorce: trips to New York, Walt Disney World, Maui. No question she wanted to give her kids everything. In the end, she caused them damage in ways that will take years to heal. Undoubtedly, she will explain she wanted them to have everything and the divorce made her commit the crime. In the end, though, she provided her kids with an example of a mother who committed a premeditated and calculated crime and most likely would have continued if she hadn’t been caught, all the while acting as the person with high moral values. It is sad.
I agree with Alawai 110%
C’mon… blaming divorce…please! People get divorced all the time, doesn’t give them the permission to steal. How about GREED!
How Bout the layers of greed?! Like having Lance Luke promoted to AOAO’s as a consultant……yet his degrees are from diploma mills……..and such contracts cost AOAO’s money for nothing……..My biggest question is why didn’t the parent company press charges…….and normal business situation would have charges pressed …….let the legal system do their job……..why is Certified and Associa not stepping p to the plate?
I’m behind on the news because I left Hawaii last year and just found out from my sister about Toni. I’m a retired property manager and worked with Toni before and after Associa took over. I noticed the decline on company integrity and an increase on company hypocrisy since Associa took over. Based on my experience with Toni, she was a very caring and professional property manager with integrity. I am deeply saddened with what happened with her and I hope ALL (home owners, directors, and other property managers) CAN learn from this terrible incident.