A former condo association president in Aventura, Florida, Gregori Arzumanov, has been accused of stealing over $1.5 million from the association. He was recently released from jail on bond after appearing in court.
Arzumanov, 62, walked out of the Turner Guilford Knight Correctional Center in West Miami-Dade on Tuesday. During his court appearance, Miami-Dade Circuit Judge Laua A. Stuzin made sure that the money used for his bail did not come from the alleged crimes he committed.
The bail money came from his stepdaughter’s bank account, and he only had to pay $35,000 of the $350,000 bond to be released. Arzumanov declined to make any statements about the charges against him as he left the jail.
He is the former president of Turnberry on the Green Condominium in Aventura, where he is accused of using the stolen money for personal expenses instead of making necessary repairs to the building. Aventura Police Chief Michael Bentolila described Arzumanov’s actions as a “complete takeover” of the building and its assets.
The investigation into Arzumanov’s activities had been ongoing for four years before his arrest. The case involves charges of racketeering, organized fraud, and money laundering. Arzumanov has pleaded not guilty to all charges.
Additionally, a recent report by 7 Investigates raised questions about a $15,000 check issued by the condominium association to the law firm representing Arzumanov in his defense. The attorney, Sam Rabin, stated that he would refund the money if it was found to be given improperly.
The case has raised concerns about financial oversight and accountability within condo associations. It serves as a reminder for residents to be vigilant about how their association funds are being managed and to report any suspicious activities.
As the legal proceedings continue, the community awaits justice and hopes for transparency in resolving this troubling situation. The impact of Arzumanov’s alleged actions goes beyond financial loss, affecting the trust and security of the residents in the condominium association.
