Former Aventura Condominium Association President Indicted on Money Laundering Bonds – WSVN 7News | Miami News, Weather, Sports

AVENTURA, FL. (WSVN) – – A former condo association president accused of stealing over $1.5 million from the association has been released from jail on bail.

Gregori Arzumanov was released from Turner Guilford Knight Correctional Center in West Miami-Dade on Tuesday.

The 62-year-old appeared in court on Monday, where Miami-Dade Circuit Judge Laua A. Stuzin ensured that the money he would use to pay his bail did not come from the alleged crimes he committed .

As he left the prison, 7News cameras were present as Arzumanov left the prison with his glasses on and a button-up shirt. He did not want to provide any information about the serious allegations against him.

It was discovered in court that the deposit would come from his stepdaughter’s bank account and not his own. Stuzin allowed him to post bail, which was set at $350,000, but Arzumanov only had to pay $35,000 for his release.

Arzumanov is the former president of Turnberry on the Green Condominium, 19501 W. Country Club Drive in Aventura.

He was arrested in October for allegedly stealing $1.5 million from the club and using the stolen money for purchases such as artwork and jet fuel for flying lessons rather than making repairs to the building.

“He took over not just the building, but everything – everything that was going on around the building, all the assets that were being used in and around the building,” Aventura Police Chief Michael Bentolila said. “It was a complete takeover. I’ve never seen anything like this in my entire career.”

The investigation into Arzumanov’s activities had been ongoing for four years before his arrest, with money being a crucial factor in the case.

Additionally, a recent report from 7 Investigates raised questions about a $15,000 check the homeowners association wrote in April to the law firm that is now representing Arzumanov in his criminal defense.

“I told the state, ‘If it turns out that the check was somehow misspelled, I will refund the money,'” said Sam Rabin, Arzumanov’s attorney.

Arzumanov pleaded not guilty to all charges, including racketeering, organized fraud and money laundering.

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