Condo Board President Stole $1.5M From Association: Police

The longtime president of the Turnberry on the Green condo association in Aventura was arrested on charges of money laundering, racketeering, grand theft, organized fraud and more in an alleged $1.5 million scheme.

The Office of Miami-Dade State Attorney Katherine Fernandez Rundle and Aventura Police allege that Gregori Arzoumanov used threats and fear tactics to maintain control of the Aventura association, its board members, employees and residents at Turnberry on the Green, a 28-story, 378-unit condo building at 19501 West Country Club Drive. The association’s budget is about $3 million per year, and it collects $3.3 million in dues annually.

Arzoumanov, who has been president of the condo association since 2008, with a monthslong break in 2022, was held on a $500,000 bond. More arrests are expected, Aventura Police Chief Michael Bentolila said at a press conference Tuesday.

Arzoumanov placed himself in top managerial positions, including property manager and chief engineer, despite not holding an engineer’s license in Florida. He used his positions of power to embezzle more than $1.5 million since early 2017, the arrest warrant alleges. His alleged scheme included paying his late mother $225,100 and using bank accounts in her name to launder $367,250 — all after her death.

Arzoumanov was also charged with fraudulent use of a credit card and making false statements to the U.S. Department of State. He’s facing first and second degree felony charges.

Arzoumanov stepped down for a few months in 2022, which is when he pressured the board to hire him as chief engineer, earning an $80,000 annual salary, according to his arrest warrant. He has also been property manager since 2019.

The company he created to manage security at Turnberry on the Green, called Yuka Security, allegedly profited $200,000 per year, solely benefiting Arzoumanov, authorities allege. He also allegedly profited off of background checks for future tenants and owners.

Over the years, Arzoumanov filed lawsuits against members of the condo association as a “means to quiet the opposition and suppress any [dissent],” the warrant alleges. “These same aggressive tactics against the membership also helped to keep the staff in line and do the defendant’s bidding without asking questions for fear of losing their jobs if they spoke up.”

According to his arrest warrant, Arzoumanov spent tens of thousands of dollars of the association’s funds purchasing a dozen oil paintings. He also sought and received reimbursement from the association for personal expenses that included groceries: boneless chicken thighs, organic baby spinach, cucumbers, rice and Greek soft cheese from the World Market & Cafe in Hollywood. He was also reimbursed for gas, Dunkin’ Donuts orders and purchases from Publix and Walmart associated with his trips to Gainesville, where his son was attending the University of Florida. This included a $4.75 receipt from Dunkin’ where he paid with a gift card.

In 2019, Arzoumanov billed the association for pool cleaning services, while the association paid another company, and he profited $40,000 for services that his company did not provide, the warrant alleges.

Arzoumanov was able to get away with his alleged scheme for so long because the majority of unit owners are investors who don’t live at Turnberry on the Green, and most vote in the annual elections by proxy.

Arzoumanov “would utilize a well-organized campaign of misinformation to make the building appear profitable to the owners who would not question anything as long as their investment appeared safe,” according to Aventura police.

For years, owners and tenants at South Florida condo and homeowners associations have sounded the alarm on allegations of corruption and fraud at their communities, schemes that are in some cases aided by property managers and association attorneys. In the most high-profile case, in 2022, the Miami-Dade State Attorney’s Office arrested five people who allegedly stole $2 million from the Hammocks Community Association in a scheme that included hiring fake contractors, prosecutors allege. The 3,800-acre association has about 5,500 single-family homes, townhomes and condos and is one of the largest homeowners associations in Florida.

Earlier this year, Florida lawmakers passed two condo and homeowners associations bills that beef up repercussions against community association board members and managers who break the rules, including criminalizing kickbacks and hiding records. The homeowners associations legislation, or House Bill 1203, was a “direct response” to the issues at the Hammocks, experts say.