Photo: ATU Images / The Image Bank / Getty Images
(Aventura, FL) -- An ex-condominium association president is busted on racketeering, grand theft, credit card fraud and money laundering charges for allegedly pocketing condo fees and rents, according to the arrest warrant.
Miami-Dade State Attorney Katherine Fernandez-Rundle says 62-year-old Gregori Arzumanov had various money laundering schemes as the condo association president of 'Turnberry On The Green' in Aventura.
More than 375 condo owners live in the 28-story posh condo in Aventura where unit prices range from $380,000 - $725,000 and rentals range from $2,350 - $5,000 a month.
“It turns out that there was trouble in paradise,” said Rundle. “In those positions of trust, he had the ability to spend money for things, theoretically, that was for the association, but what he did was, he actually bought things that, we believe, were for himself.”
She says he was on the Board since 2008, rigging votes, embezzling funds, collecting a salary of $80 thousand a year, and had rental payments going to his dead mother.
Arzumanov allegedly stole $1.5 million over seven years from the Turnberry on the Green Condo Association, according to the state attorney.
During his tenure, Arzumanov was the association's president since 2008 as well as property manager and chief engineer.
His bond was set at a half million dollars.