The Sarasota County Sheriff’s Office has arrested Charles Nichols, 69, of 1817 Highland Road, Osprey, for allegedly taking thousands of dollars from the Osprey Homeowners Association.
An investigation found that Nichols, who was the association treasurer between May 2007 and August 2011, issued himself 57 checks on the Osprey HOA checking account totaling $11,316.52, the Sheriff’s Office report says. Of those checks, at least 33, totaling $7,448.09, were issued without any legitimate reason or known business purpose, according to the report.
The current president of the HOA told detectives Nichols’ alleged actions left the association deeply in debt, according to the report. However, once the association regained control of its finances, it was able to restore its solvency and even has built up a reserve in its account, the report said.
Nichols is charged with one felony count of Larceny, He was booked into the Sarasota County Jail Thursday, Aug. 16, and was released after posting a $1,000 bond.