Condo President Arrested for Stealing $1.5 Million, New Questions Emerge
Arrest of Condo President Rocks Community
Thais Penezri, a resident of Turnberry on the Green Condominium Association, described the feeling among her fellow residents as "a daily nightmare." However, the day finally arrived when the president of the condo, Gregori Arzumanov, was arrested and taken away in handcuffs. The community breathed a collective sigh of relief as Arzumanov faced hundreds of thousands of dollars in fraud charges.
A Pattern of Abuse of Power
As the president of the condo since 2008, Arzumanov held multiple positions of trust, including property manager and chief engineer. Prosecutors alleged that he used his positions to spend money on personal items, including food, artwork, and even airplane fuel for his flight lessons. He is accused of stealing over $1.5 million from the association.
New Investigation Uncovered
7Investigates obtained a $15,000 check paid by the condo association to Rabin & Lopez, P.A., a Miami law firm representing Arzumanov. The memo reads "Legal Retainer – Aventura PD," which raised questions about the nature of the payment. Attorney Sam Rabin claimed that the check represented an investigation, not representation in the criminal case. He also stated that the fees for Arzumanov’s representation in his criminal case are being paid for exclusively by Arzumanov himself.
Condo Law Expert Weighs In
Condo law expert David Haber highlighted the key question: whether the prior board voted to approve the payment. He noted that it was legal but probably not a good idea. The condo board would have had the right to hire an attorney for an investigation into its president, but Haber questioned the wisdom of doing so.
Conclusion
The arrest of Gregori Arzumanov has left many questions unanswered, but it has marked a turning point for the community. As residents breathe a collective sigh of relief, they must also confront the possibility that they may have unknowingly contributed to the alleged embezzlement.
FAQs
Q: What is the total amount of money alleged to have been stolen from the condo association?
A: Over $1.5 million
Q: What were the uses of the stolen money?
A: Allegedly, it was used for personal items, including food, artwork, and airplane fuel for the president’s flight lessons.
Q: What is the current status of the president’s case?
A: He is being held on $350,000 bond and will have a hearing on Wednesday to request a reduction in bond amount.
Q: Will the board be held accountable for their role in the alleged embezzlement?
A: An investigation is currently ongoing, and the results will be made public.
