A former New Smyrna Beach condo president and manager is wanted on theft and fraud charges by Central Florida law enforcement.
The Volusia Sheriff’s Office recently posted that 76-year-old Julius Bruggeman, formerly of New Smyrna Beach, is wanted and charged with grand theft, organized scheme to defraud, and racketeering following an investigation into complaints he stole or misappropriated about $1 million from a local condo association over a 10-year period.
On April 23, 2024, Detective Weaver of the VSO Financial Crimes Unit began an investigation into complaints from residents of the Smyrna Beach Club condo complex that Bruggeman, the condo association president and manager, was embezzling funds from the association’s bank accounts.
Evidence uncovered during a preliminary investigation confirmed the resident’s suspicions. On May 1, 2024, VSO executed two search warrants, one at the Smyrna Beach Club Condo Association Office and the other at Bruggeman’s condo unit, where he had resided for over a decade.
Detectives seized multiple documents from the office, but found Bruggeman’s residence completely empty, with no belongings and little furniture. Maintenance staff advised Bruggeman moved out mere days earlier and seemed to be in a hurry.
During a 7-month investigation, evidence was uncovered that showed Bruggeman had almost total control over the association’s finances. He installed friends on the association board and authorized the purchase of health care policies for them with association funds.
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.
In addition to the salary that he paid himself, which fluctuated but totaled about $70,000 per year, Bruggeman used the association’s funds to purchase specialty food items like gourmet coffee, health supplements, designer sneakers and shirts, therapeutic socks, sweatpants and acne cream, spending approximately $800 to $1,000 monthly of the association’s funds on himself.
Bruggeman also formulated a scam where he would use association funds to purchase materials for repairs to 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, according to law enforcement.
While evidence indicates Bruggeman stole or misappropriated about $1 million over 10 years, unfortunately, due to statutes of limitations and the inability to recover documentation from years prior, charges were only possible for crimes committed over the last 36 months.
After Bruggeman’s hasty departure from the condo, a firm was hired to conduct a financial audit. Budget shortfalls tied directly to Bruggeman’s activities resulted in all owners’ monthly association fees doubling.
During the investigation, board members whose health care was paid for by Bruggeman with association funds came forward and returned the money. The Florida Department of Business and Professional Regulation fined the Association $20,000 for allowing the mismanagement to occur.
Bruggeman may be in the Portland, Oregon area, but his exact whereabouts are unknown. If you have information that could help bring him to justice, please contact Det. Weaver at 386-860-7030 ext. 20126.
