Aventura condo association ex-prez Gregori Arzumanov hit with federal charges

Former condo association president Gregori Arzumanov, who is already facing a state racketeering indictment, was hit with federal charges for allegedly stealing more than $700,000 in building funds.

On June 6, a Miami federal grand jury indicted Arzumanov and a second defendant whose identity is redacted, for wire fraud and conspiracy to commit wire fraud, according to court records. Arzumanov and his co-defendant allegedly transferred the six-figure sum from the Turnberry on the Green Condominium Association into bank accounts they controlled, the indictment alleges. Turnberry on the Green is a 26-story building with 378 units at 19501 West Country Club Drive within the affluent Turnberry neighborhood of Aventura.

Arzumanov was president of Turnberry on the Green’s condo board from 2008 until October of last year, when he was charged by the Miami-Dade state attorney’s office with racketeering and other felonies in connection with his association duties, records show.

Arzumanov’s criminal defense attorneys, Gennaro Cariglio Jr. and George Lambert, did not respond to requests for comment.

In the recently filed federal case, Arzumanov and his co-conspirator allegedly transferred $610,000 from the condo association’s account on May 20 of last year into a separate business account under the Turnberry on the Green name at a different bank. The duo allegedly also deposited a condo association check for $116,251 into the business account they controlled, the indictment states.

Arzumanov allegedly used the funds for his personal benefit, but the indictment does not provide any specifics. He faces a maximum of 20 years in federal prison and a fine of at least $250,000, the indictment states.

In October of last year, Aventura Police arrested Arzumanov on money laundering, racketeering, grand theft, organized fraud and other charges for his alleged role in a $1.5 million scheme. State prosecutors allege Arzumanov used threats and fear tactics to maintain an iron grip over the condo association, its board members, employees and residents.

With a budget of about $3 million per year, Turnberry on the Green’s association collects roughly $3.3 million in maintenance fees annually. Arzumanov allegedly embezzled condo association funds since early 2017, including a $225,100 payment to his late mother, and allegedly laundered another $367,250 using bank accounts in her name after she died, an arrest warrant states.

He also allegedly created a fake security company that received $200,000 from the condo association, and engaged in fraudulent use of a Turnberry on the Green credit card, according to the warrant.

Residential

South Florida

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