Posted on 02/08/2025 8:35:13 AM PST by dennisw
The Volusia Sheriff's Office said it needs the public's help to find a former New Smyrna Beach condo association president they believe stole or misused $1 million using some of the money to buy himself specialty products that included acne cream.
Julius Bruggeman, 76, formerly of New Smyrna Beach, is wanted on charges of grand theft, organized scheme to defraud, and racketeering, the sheriff's office said in a Facebook post.
A seven-month investigation showed Bruggeman stole or misappropriated about $1 million from the New Smyrna Beach Club Condo Association over a 10-year period, investigating deputies said.
The complex is home to approximately 150 condo units. Association bank accounts collectively carried a monthly balance of over $700,000, and Bruggeman utilized those funds as if they were his own, sheriff's investigators said.
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A detective from the sheriff's office Financial Crimes Unit started looking into residents' complaints in April that Bruggeman, president and manager of the association, was embezzling funds from the association's bank accounts, the agency said.
Search warrants were served at the Smyrna Beach Club Condo Association Office and at Bruggeman's condo unit where he lived for more than 10 years. Deputies seized multiple documents from the office but found Bruggeman's home empty, according to the online news release.
(Excerpt) Read more at msn.com ...
The acne cream is for his new wife ?
He gave it to her for getting good grades in 9th grade!
Grandpa Walton! I always wanted to know where he went! \sarc\
Nice.
This is why you need to get involved in condo boards, HOAs, and local government. The stuff matters, and if you’re not involved, idiots and/or crooks will be.
Usually not the case.
Usually done by someone who found themselves in just a little financial pinch and decided to borrow some of the cash to tide themselves over. They fully intend to pay it back and often even do so. The first few times. But once you start you don't stop. And you pay back a little bit less and not quite as quickly. You work hard and you are not paid enough and it is just a little bit....
Soon you have a mess that even if you wanted to clean up you can't and now you are afraid of being exposed. And that is just with the weak ones. If they have a secret heart of darkness thing going that they have suppressed because of a fear of punishment things get really bad.
If you have yearly audits they will not take the first unauthorized loan because they know they will have to explain it very soon.
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