T
he longtime president of the Turnberry on the Green condo association in Aventura, Gregori Arzoumanov, was arrested and charged with money laundering, racketeering, grand theft, organized fraud, and more in a scheme allegedly worth $1.5 million. The Miami-Dade State Attorney's Office and Aventura Police allege that Arzoumanov used threats and intimidation to control the association, its board members, employees, and residents at the 28-story, 378-unit condo building.

    Arzoumanov, who has been president since 2008 with a brief break in 2022, was held on a $500,000 bond. More arrests are expected, according to Aventura Police Chief Michael Bentolila. The association's budget is around $3 million per year, and it collects $3.3 million in dues annually.

    Arzoumanov allegedly embezzled over $1.5 million since 2017 by placing himself in top managerial positions, including property manager and chief engineer, despite not holding an engineer's license in Florida. He used his power to pay his late mother $225,100 and laundered $367,250 through bank accounts in her name after her death.

    Arzoumanov was also charged with using a credit card fraudulently and making false statements to the U.S. Department of State. He faces first and second-degree felony charges. The arrest warrant alleges that Arzoumanov used his positions to profit from security services, background checks for tenants, and lawsuits against association members.

    Arzoumanov spent tens of thousands of dollars on personal expenses, including groceries and gas, using the association's funds. He was reimbursed for purchases at World Market & Cafe, Publix, and Walmart associated with trips to Gainesville, where his son attended college. In 2019, Arzoumanov billed the association for pool cleaning services while another company provided them, profiting $40,000.

    The majority of unit owners are investors who don't live at Turnberry on the Green, voting by proxy in annual elections. Arzoumanov allegedly used misinformation to make the building appear profitable, keeping owners from questioning his actions.