Two rival boards battling for control of a Greenacres community’s finances prompted Valley National Bank to file an interpleader complaint to determine who should administer a nearly $500,000 account amid claims of fraud and misappropriation.
The bank sued the Seminole Palms Home Owners Association Inc. and board members Allen Borza, Sterling Jean, Theodore Matz and Lisa Kallai Hargrove, who have split into two factions, to clarify things. A receiver was named in January to take charge of association finances.
