AG Announces Indictment in Paradise Spa HOA Schem - 8 News NOW

AG Announces Indictment in Paradise Spa HOA Scheme

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LAS VEGAS -- A Clark County Grand Jury has returned a six-count indictment against a man for his actions in allegedly defrauding the Paradise Spa Home Owner's Association of more than $1 million.

Fifty-year-old Massoud Aaron Yashouafar of Beverly Hills, California served as the treasurer of the Paradise Spa Board of Directors. According the Attorney General, Ysahouafar received two checks totaling more than $800,000 from an insurance company to repair damage caused by a fire. Yashouafar is accused of depositing the checks into his personal out-of-state account and not using the money for the repairs.

"This type of crime is particularly jarring when you realize that older victims, many of whom were living on fixed incomes in Paradise Spa, were forced to find and pay for alternative living quarters when they were still obligated to make mortgage payments on their burned condo units, while waiting for repairs that would never be made," said Nevada Attorney General Catherine Cortez Masto.


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