Stories

WHATS REIT..WHATS RONG

I WORKED SEVERAL YEARS FOR ONE OF THE LARGEST PUBICALLY HELD MULTI-FAMILY REITS, AND WAS CONSIDERED A "SUPERSTAR" BY MANY STANDARDS.

UNTIL, I BEGAN TO CONTINUALLY QUESTION THE HONESTY AND INTEGRITY OF A SENIOR VICE PRESIDENT OF PRODUCTION WHO CONTINUALLY VIOLATED NUMEROUS CORPORATE CODE OF ETHICS RULES OF
CONDUCT.

THESE INCLUDED ALLOWING INSURANCE FRAUD, IMPROPER EXPENSING OF CAPITAL COSTS AND APPROVING GENERAL CONTRACTORS PAYMENT REQUISITIONS WITH FORGED SUBCONTRACTOR LEIN WAIVERS.

THIS SOX CASE IS NOW OVER 4 YEARS OLD AND THE ANQUISH AND PAIN OF THE INDIVIDUALS THAT ALLOWED THIS TO HAPPEN IS OFTEN TIMES BEYOND REASON. THIS PARTICULAR REIT HAS NOT DENIED WHAT HAS OCCURRED AND IN FACT AFTER A BOGUS AUDIT COMMITEE INVESTIGATION I WAS OFFERED OVER 250K DOLLARS ONLY IF I REMAINED SILENT AND RETURNED ALL OF MY PHYSICAL EVIDENCE.

SOME DAYS I REALLY WONDER IF "WHISTLEBLOWING" IS REALLY WORTH THE EFFORTS. THE CRIMINALS ACTUALLY ARE TREATED BETTER THAN THE VICTIMS.