JOHNSTOWN, Colo. — Following a months-long investigation, Johnstown Police have arrested 48-year-old Sandra Oldenburg on multiple charges related to fraudulent activities affecting several northern Colorado homeowners associations (HOAs). Authorities confirmed on Monday that Oldenburg was the primary suspect in this extensive case.
Oldenburg, a representative and partner at Poudre Property Services, also known as RCE Inc., and NOCO Real Estate Solutions, is accused of stealing nearly $650,000 from HOA funds. The investigation, which included cooperation from regional partners, involved executing multiple search warrants that uncovered significant evidence of theft, according to police.
Oldenburg faces numerous felony and misdemeanor charges, including theft, cybercrime, fraud by check, second-degree forgery, and money laundering. She surrendered to law enforcement and was booked into the Larimer County jail with a bond set at $5,000.
“This case would not have been resolved without the dedicated work of our detective team,” said 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.”
The case initially came to light in January when at least eight HOAs filed complaints with Loveland Police about Poudre Property Services, alleging theft and mismanagement of their accounts. Residents of affected communities, like Pam Crabb from the Enchantment Ridge HOA in Loveland, expressed frustration over the financial mismanagement.
“It was so frustrating. We couldn’t figure out what was going on,” Crabb said. She and her neighbors were forced to pay nearly double in HOA fees this year due to the misappropriation of funds during Oldenburg’s management.
Crabb added, “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. This brings us some peace of mind that someone really was doing something.”
The investigation provides some relief to the affected communities, although the recovery of the stolen funds remains uncertain.
