Kansas City, Mo. The owner of a Kansas City business admitted that he embezzled more than $750,000 from dozens of homeowners associations.
Fifty-three-year-old Dale Palmer pleaded guilty Tuesday to a federal charge of mail fraud.
Palmer owned and operated Home Owner Association Services, which provided management services and managed accounts for homeowner associations in Missouri, Kansas, Wisconsin, and Illinois.
Prosecutors say when Palmer closed the company's Kansas City office in March 2011, $751,302 was missing from the accounts of 32 homeowner associations.
Palmer admitted that he used funds from the homeowners associations to pay his business expenses. He prepared false statements for the associations, which never saw their bank statements.
He faces a sentence of up to 20 years in federal prison without parole, plus a fine up to $250,000.