NEW SMYRNA BEACH, Fla. – 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.

[EXCLUSIVE: Become a News 6 Insider (it’s FREE) | PINIT! Share your photos]

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.”

According to the sheriff’s office, the complex is home to around 150 condo units, and the association’s bank accounts carried a monthly balance of over $700,000 — money that Bruggeman used as if they were his own.

Beyond the roughly $70,000 salary that he paid himself, Bruggeman also spent around $800 – $1,000 each month on himself, buying products like gourmet coffee, health supplements, designer sneakers and shirts, therapeutic socks, sweatpants and acne cream, investigators announced.

In addition, deputies said Bruggeman crafted a scam where he would use association funds to buy materials to repair individually owned units, or flat-screen TVs and kitchen appliances for unit owners.

“After repairs were completed or items were delivered, Bruggeman would collect payment, but never reimbursed the association for the expenses — he kept the money for himself,” the release continues.

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.

“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.

Anyone with information about his whereabouts is urged to contact detectives at 386-860-7030.

Get today’s headlines in minutes with Your Florida Daily: