SAN DIEGO – Property manager Robert Walsh and his firm, Cornerstone Management Professionals, were charged with four counts of wire fraud in connection with a scheme to defraud a homeowners’ association of $247,000. Walsh made his first appearance in court today.

The indictment alleges that Cornerstone and Walsh falsely represented that Cornerstone could properly submit bids to the homeowners’ association for construction projects, and in submitting such bids, the defendants concealed the lower bids to make it appear as if Cornerstone was the low bidder in order to be awarded the projects.   The indictment seeks forfeiture of $247,000 of illegal proceeds.

The indictment further alleges that on March 26, 2015, the defendants sent an email, seeking a change order from the homeowner’s association to cover the cost of asbestos removal.  According to the indictment, the defendants then sent an email to the contractor working on the project on April 28, 2015, falsely representing that there was no asbestos present in order to induce the contractor to conclude the demolition project without involving an asbestos abatement firm so that the defendants could retain the entire value of the change order. Read more: