Nearly $2.3 Million Allegedly Stolen From Florida Associations So Far In 2024

In this latest issue of the Miami Condo Market Intelligence Report™, we examine alleged financial crimes at Florida condo and homeowners associations.

This week’s Miami Condo Market Intelligence Report™ newsletter examines alleged financial crimes by board members and employees of Florida condo and homeowners associations in 2024.

The catalyst for our focus was this week’s arrest of a condo president in the Miami suburb of Aventura for an alleged $1.5 million theft.

Gregori Arzumanov – the quantum physicist-trained president of the Turnberry On The Green condo tower in Northeast Miami-Dade County – was arrested on Oct. 1, 2024, on a number of felony charges, including racketeering, grand theft and money laundering, according to a Miami-Dade County arrest warrant.

Police alleged in the arrest warrant that Arzumanov and his companies maneuvered to gain control of the condo association by becoming the board president, property manager and chief building engineer in order to use the community’s estimated $3.3 million operating budget to “enrich” himself and his family.

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This information is believed to be accurate and complete but cannot be guaranteed or warranted.

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