NEW SMYRNA BEACH – A
former condo president in New Smyrna Beach has been accused
of taking about $1 million from a condo association, leading
to huge fee hikes for residents, according to the Volusia
Sheriff’s Office.
In a news release,
deputies said that an investigation into the theft began
after the sheriff’s office received complaints in April 2024
from residents at the Smyrna Beach Club condo complex.
Around that time, residents alleged that the condo
association president and manager — Julius Bruggeman, 76 —
was embezzling funds from the association’s bank accounts.
Investigators said they found evidence to confirm these
suspicions, so detectives searched the condo association’s
office and Bruggeman’s condo unit, where he had lived for
over a decade.
During their search, detectives found several documents from
the office, but Bruggeman’s unit was “completely empty,” as
he’d reportedly moved out just a few days earlier and
“seemed to be in a hurry,” the release shows.
“During a 7-month investigation, evidence was uncovered that
showed Bruggeman had almost total control over the
association’s finances,” the release reads. “He installed
friends on the association board and authorized the purchase
of health care policies for them with association funds.
In all, deputies said they discovered
that Bruggeman may have stolen or misappropriated around $1
million over the course of a decade, though due to statutes
of limitations and the inability to recover documentation
from previous years, charges are only possible for crimes
committed within the last three years.
Deputies added that a financial audit was
performed after Bruggeman’s “hasty departure,” and budget
shortfalls tied directly to his activities caused all
owners’ monthly association fees to double. |
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Julius Bruggeman, 76, by Volusia
Sheriff’s Office
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“During the investigation, board members whose health care
was paid for by Bruggeman with association funds came
forward and returned the money,” detectives said. “The
Florida Department of Business and Professional Regulation
fined the Association $20,000 for allowing mismanagement to
occur.”
Investigators said that Bruggeman may be in the Portland,
Oregon, area, although his exact whereabouts are unknown.
He faces charges of grand theft, organized scheme to
defraud, and racketeering.