JOHNSTOWN, Colo. — A woman has been arrested by Johnstown Police after a monthslong investigation into numerous reports of fraudulent activity from multiple northern Colorado homeowners associations, police said on Monday.
Sandra Oldenburg, 48, was the lone suspect in the case, police said. She is a representative and partner in Poudre Property Services, a.k.a. RCE Inc., and NOCO Real Estate Solutions, according to police.
During the investigation, Johnstown Police and other regional partners executed multiple search warrants and recovered evidence demonstrating a total theft of nearly $650,000, police said.
Oldenburg faces several felony and misdemeanor counts, including theft, cybercrime, fraud by check, second-degree forgery and money laundering, according to police.
Oldenburg surrendered to police and was booked into the Larimer County jail in lieu of a $5,000 bond, according to police.
“This case would not have been resolved without the dedicated work of our detective team" aid Police Chief Jeff Strossner. "I am so proud of their efforts, demonstrating Johnstown is a ‘Community that Cares’ and that our department is a ‘People First’ organization, providing exemplary police services to our hometown.”
9NEWS Investigates reported on this case in January, when at least eight HOAs filed complaints with Loveland Police regarding Poudre Property Services over allegations of theft and mismanagement of HOA accounts.
“It was so frustrating. So frustrating. We couldn’t figure out what was going on," said Pam Crabb, who lives in the Enchantment Ridge HOA in Loveland.
Crabb and other neighbors have had to pay nearly double in HOA fees in 2024 because of issues surrounding a lack of funding when Oldenburg was managing their HOA.
"I think all of us have come to the conclusion that we are not going to see any of the money, ever. But we hear so much about homeowner associations just screwing over homeowners and not having any consequences, and this is brings us some peace of mind that someone really was doing something," said Crabb of the investigation.