Ridgway Lane president leaving over ‘health issues’ days after company is sued by Ridgeland HOA

Management company president leaving over ‘health issues’ days after being sued

RIDGELAND, Miss. (WLBT) - We are uncovering more information in our investigation into claims of funds missing from the Bridgewater Homeowners Association’s bank accounts.

The Bridgewater Homeowners Association has filed two lawsuits against their management company Ridgway Lane, claiming almost $850,000 is missing or unaccounted for in their bank accounts.

Now more subdivisions managed by Ridgway Lane are suspecting they may have been taken advantage of too.

This week residents in the Bruenburg Subdivision in Clinton were sent this email from their HOA President Thomas Stafford:

Bruenburg HOA letter
Bruenburg HOA letter (Source: Bruenburg HOA letter)

In the email, it says that David L. Lane, Ridgway Lane’s President, is leaving the business due to health issues.

Lane’s son, David W. Lane, is also leaving and the company will cease operations at the end of the year.

Bruenburg’s HOA board and their attorney’s are now conducting a full audit to determine their financial standing with Ridgway Lane.

Homeowners are voicing their concern.

Ben Fathery, who has lived in the neighborhood for 18 years, said, “I nearly fell out of my chair when I saw WLBT News. The sheer scope of it seems to be amazing. That much money missing, which seems to have been misappropriated.”

Ridgway Lane manages multiple subdivisions in the metro, names you’ve heard of like: Dinsmor, Palisades, and Pebble Creek.

Their boards are also reviewing all financial dealings with the management company.

Back at Bruenburg, residents who pay over $700 annually for homeowners dues hope they haven’t been taken.

“It’s a very nice neighborhood," said Fathery. "We’ve enjoyed living here and have had no problems that we knew of. Maybe we do have some problems that will come to light now.”

We visited David Lane at his office for comment, but we were told he was unavailable.

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