Wesley Samuels, president of the homeowners association, declined to comment.
The private association collects $1,000 a year from each of its estimated 100 homeowners to provide for landscaping and other services in the neighborhood.
Jensen was the group’s treasurer for 11 years.
Homeowners in the neighborhood say the association has struggled with financial difficulties and other signs of mismanagement. Landscaping improvements, walking path repairs and boat launch improvements have been delayed due to a lack of funding.
Thomas Dunn, a homeowner in the neighborhood for 24 years, said once evidence of Jensen’s embezzlement surfaced, it became clear why funding has been lacking for neighborhood upkeep.
“We’ve had all these things in disrepair that we have just been dragging our feet on getting the work done,” Dunn said. “It’s always been one excuse after the other. Well, we know why now.”
According to police records, Jensen inflated invoices for payments owed to private contractors by the association. Diverting checks to his private insurance business, Southern Lakes Capitol, Jensen then siphoned off money from the homeowners association.
Records show that Samuels reported Jensen had made deposits totaling $16,000 back into the Indian Hills account in an apparent attempt to repay what was embezzled.