Ira Crain transferred 8 lots to herself from the King's Colony POA.

On March 2, 2006, Ira Crain, once again signed a deed on behalf of the KCPOA deeding 8 tracts of land including three reserves and five lots to CF Investments, her own company. 


Crain
Crain

The deed was recorded April 24, 2006.  According to the KCPOA financial records, she paid only $360 per lot for this transfer.  The payment was made almost six months after the transfer and only after KCPOA records were requested in the ongoing lawsuit with Colony Ridge.

Land Check

Land Check


Proir to this time Colony Ridge offered $3,000 each for Ira Crain's lots in Kings Colony.  She even posted on the KCPOA website and sent letters out indicating that Colony Ridge was paying up to $3,000 per lot.


This could be the most blatant abuse of her authority.

 

The Kings Colony POA deeded lots to a board member, Ann Buckmaster.

During her deposition, on October 26, 2006, Ira Crain stated that Ann Buckmaster had purchased a lot “within the last month”. 


Deposition (2)


After researching property records we found that two lots were deeded to Ann Buckmaster by the POA.  This deed was signed by Ira Crain as the Treasurer of the Board of Directors, on behalf of the KCPOA. 

Buckmaster

This deed is dated April 4, 2006 but it was not recorded until December 20, 2006. This is almost two months after she stated under oath that it had been recorded.

Buckmaster
Buckmaster

POA accounting and bank records show no compensation for this deed.  It appears that this property was given to Ann Buckmaster by the POA.