The CotoBuzz Journal, Community Journalism

The Laguna Woods Village Shareholders Committee is asking Third Board director Cynthia Conners to resign her positions on the board for a number of alleged ethical violations.

In a request for resignation sent to Ms. Conners by the Laguna Woods Village Shareholders Committee, the group writes in part "The board of directors bears the ultimate responsibility for setting ethical standards and ensuring they permeate the organization and inform its practices. To that end, the board should consider adopting and regularly evaluating a code of ethics that describes behavior it wants to encourage and behavior it wants to discourage. The code of ethics should be a principal means of communicating to all personnel a strong culture of legal compliance and ethical integrity" and cites a number of alleged violations, including

“Mary Robinson’s letter to members in the committee about how you advised her of the new directors had bad attitudes, mistrusted the auditors, desire to hire a new attorney and the interest to replace (economically at risk) Bank of America.”

Cover page of petition to Cynthia Conners to resign

And “Enormous legal billing by our attorney (Hart) for you contact on issues that needed to be shared with your fellow directors. This is gross impropriety and misuse of our resources.” As well as defense of “…the Management Agreement now in effect by PCM. In the IRS Code 4958 reference to compensation package must be at fair market value. Ms. Conners an a two year 83% increase in compensation is not at fair market value. As a board director it is your duty to protect the shareholders investment. To survey Compensation Packages under your governing document codes. By the way unfair Management Agreements are not recognized by the IRS (if excessive) and the excess benefits must be paid back with a 25% penalty.”

We have tried to contact Ms. Conners and PCM for comment on this and other stories - we have not heard from them.

Cynthia Conners Being Asked to Resign