Two men are behind bars, accused of engaging in a scheme to defraud owners of a Miami Beach condo building by diverting money that was meant for an urgent, 40-year recertification.
This occurred at the Euclid East Condos, located at 15th Street and Euclid Avenue. Investigators say the condo’s property manager, Francisco Obispo, 37, hired Jose Hernandez Aguiar, a maintenance worker, in a kickback scheme to give themselves tens of thousands of dollars that were meant for building renovations that were badly needed.
Prosecutors say the condo’s HOA paid Hernandez’s company, JLB Repair LLC, to handle the building’s recertification, with Obispo writing checks and paying around $370,000 to Hernandez.
Investigators say a board member told them Hernandez used to be employed by the former property management company as the building’s general maintenance employee, but then was placed on the building’s direct payroll in 2024 when Obismo took over.
This board member discovered discrepancies in the accounting and financial records.
It was also discovered that neither Hernandez nor his company is registered as licensed contractors.
Investigators say each time Hernandez received payment for work on the building, Obispo received money shortly afterward.
Obispo allegedly received approximately $95,000 that was paid by the Euclid East Condominium as a result of 18 different identified transactions.
The board member, who went to the investigators with the information due to financial inconsistencies in the condo’s documents, was later removed from the board. Investigators say that Obispo told the other members that the man posed a safety risk, so he got enough signatures to remove him.
The suspects are charged with an organized scheme to defraud, and Obispo is also facing a charge of receiving a kickback.
They’re both behind bars and are expected to be in bond court on Wednesday.
