Property Manager Stole Over $1 Million From 70 HOAs Using Fake Bank Statements

- - Disclaimer: This video is a dramatization based on real events. Some visual content was created with artificial intelligence assistance. Some details have been fictionalized and all names have been changed to protect the privacy of those involved. On November 26, 2024, Rose Kasande Bailey — a 60-year-old property manager and founder of Rosewood Management and Consulting Services, LLC, based in Fairfax, Virginia — was sentenced to two years in federal prison by U.S. District Judge Leonie M. Brinkema of the Eastern District of Virginia after pleading guilty on August 30, 2024 to one count of wire fraud. Bailey formed Rosewood in 2012 and by March 2023 had positioned it as the managing agent for more than 70 homeowner associations across Virginia, including communities in Lorton, Reston, Falls Church, and Leesburg, giving herself sole signing authority over both Rosewood's operating accounts and each HOA's bank accounts. Over the course of the scheme, she made unauthorized transfers out of association accounts for her own personal benefit, stealing in excess of one million dollars from the communities she was hired to serve. When one HOA attempted to terminate its contract with Rosewood, Bailey transferred approximately $600,000 from the accounts of other client associations to make the departing community whole, then provided falsified bank statements to the remaining associations to conceal the shortfalls — a shell game that left dozens of communities unknowingly funding each other's losses. Among the hardest-hit were small residential associations whose pooled dues, collected to cover snow removal, roof repairs, and shared utility costs, had been quietly drained for years without any resident ever receiving an accurate accounting of where their money had gone.