AVENTURA, Fla. – The president of a condo association accused of embezzling more than $1 million from residents could soon return to the building where the alleged theft occurred.
Jail records show 62-year-old Gregori Arzumanov, president of the Turnberry on the Green condominium in Aventura since 2008, has posted bond and is awaiting release.
“It’s a shame, it’s a shame,” a resident told Local 10 News reporter Christian De La Rosa.
Arzumanov was arrested earlier this month, as first reported by Local 10 News, after being accused of orchestrating a series of financial schemes to steal from the association.
“He managed to consolidate a variety of positions that allowed him to steal assets from the association,” said an investigator familiar with the case.
Authorities say Arzumanov convinced the condo board to hire a security company he secretly owned, promising lower prices but instead increasing costs. He is also accused of sending checks labeled as rent to his deceased mother.
In total, detectives say Arzumanov pocketed $1.5 million, using some of the money to purchase artwork and dine out.
“Anything from buffalo chicken wings to going to buffets,” an official said.
Authorities confirmed that more arrests are expected to be made in connection with the case.
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