Former condo association president embezzled $1M over 10 years, deputies say
Former condo association president embezzled $1M, deputies say
A former condominium owners' association president and manager at the Smyrna Beach Club complex stole $1 million over the course of a decade from the association, according to the Volusia Sheriff's Office.
NEW SMYRNA BEACH, Fla. - A former condominium owners' association president is accused of stealing $1 million over the course of a decade from the association, according to the Volusia Sheriff's Office.
‘No one likes to be taken’
What we know:
Julius Bruggeman, the former condominium owners’ association president and manager at the Smyrna Beach Club in New Smyrna Beach, is accused of stealing $1 million from the association over a decade.
The Volusia Sheriff’s Office launched a fraud investigation in April 2024 after receiving complaints from residents. Bruggeman, 76, allegedly used association funds for personal expenses, including luxury items and a $70,000 annual salary for himself. He also installed friends on the board and provided them with health care policies using association money.
Investigators say he fled, possibly to Portland, Oregon, just before deputies searched his unit in May.
What we don't know:
Authorities have yet to locate Bruggeman, and it remains unclear how long he may have been planning his departure. Investigators also face challenges in retrieving older financial records, limiting the charges to the last three years due to the statute of limitations.
Additionally, it is unknown if further legal action will be taken against other individuals involved in the scheme or if more missing funds will be uncovered.
The backstory:
Bruggeman had near-total control of the association’s finances while managing the 150-unit Smyrna Beach Club complex. Over the years, he allegedly embezzled funds for personal use, spending up to $1,000 per month on luxury goods, health supplements, and designer clothing.
Meanwhile, monthly association fees doubled, placing a financial burden on residents. In addition to misusing funds, Bruggeman allegedly appointed friends to the board and authorized association money for their health care. When deputies searched his unit, they found it nearly empty, suggesting a hurried departure.
The mismanagement at Smyrna Beach Club led to increased fees for residents and a $20,000 fine imposed by the Florida Department of Business and Professional Regulation.
What they're saying:
Condo owners FOX 35 News spoke with on Friday declined interviews, but Bruggeman was well known to Sherree Auge who lives across the street.
"[He was] responsive," Auge said. "You could call him and tell him what you needed."
Saying "no one likes to be taken," she empathized with condo owners.
"That’s pretty lousy to do that to the people you were working for and with for many years," she said.
The sheriff’s office said Bruggeman’s friends on the board returned the association money used to pay for their health care during the investigation.
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The Source: This story was written based on information shared by the Volusia Sheriff's Office.