Woman accused of stealing $650,000 from Colorado HOAs

JOHNSTOWN, Colo. — A woman has been arrested by Johnstown Police after a monthslong investigation into numerous reports of fraudulent activity from multiple northern Colorado homeowners associations, police said on Monday.

Sandra Oldenburg, 48, was the lone suspect in the case, police said. She is a representative and partner in Poudre Property Services, a.k.a. RCE Inc., and NOCO Real Estate Solutions, according to police.

During the investigation, Johnstown Police and other regional partners executed multiple search warrants and recovered evidence demonstrating a total theft of nearly $650,000, police said.

Oldenburg faces several felony and misdemeanor counts, including theft, cybercrime, fraud by check, second-degree forgery and money laundering, according to police.

Oldenburg surrendered to police and was booked into the Larimer County jail in lieu of a $5,000 bond, according to police.

“This case would not have been resolved without the dedicated work of our detective team” aid Police Chief Jeff Strossner. “I am so proud of their efforts, demonstrating Johnstown is a ‘Community that Cares’ and that our department is a ‘People First’ organization, providing exemplary police services to our hometown.”

9NEWS Investigates reported on this case in January, when at least eight HOAs filed complaints with Loveland Police regarding Poudre Property Services over allegations of theft and mismanagement of HOA accounts.

One of the HOAs, Carlson Farms in Johnstown, had filed a lawsuit against the company in February 2023. In the civil complaint, attorneys for the HOA alleged “hundreds of thousands of dollars in Association funds are missing without explanation.”

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