$560,000 Embezzled From Condo Associations, Authorities Allege

The chief financial officer at a Tampa Bay realty company faces a first degree grand theft charge for allegedly stealing $560,000 from 10 beach condo associations.

(The associations are listed below.)

Roberto Martin Velez, 45, of Seminole was the chief financial officer for Total Realty Services, according to the Pinellas County Sheriff's Office, when he allegedly embezzled the money from the condo associations and his employer.

Authorities allege that Velez stole the funds over the past three and half years.

In his CFO position, Velez managed the transfers of funds from the condo associations to Total Realty Services.

After the funds reached his employer, he would transfer money to himself with checks and electronic payments, authorities say.

The Sheriff's Office was tipped off about the possible criminal activity when it launched the investigation.

According to authorities, Velez and the Total Realty Service accounts were investigated. Incriminating evidence was found against Velez.

The list of the condo associations stolen from follows:

1. La Contessa Condo - 16326 Gulf Blvd. Redington Beach

2. Las Brisas of Madeira Beach - 14710 Gulf Blvd. Madeira Beach

3. Royal Orleans - 16333 Gulf Blvd. Redington Beach

4. Palms of Treasure Island - 10315 Gulf Blvd. Treasure Island

5. Madeira Bay Resort - 13235 Gulf Blvd. Madeira Beach

6. Madeira Bay Town Homes - 118 1st Ave E. Madeira Beach

7. Gulf Strand - 4510 Gulf Blvd. St. Pete Beach

8. Madeira Bay Resort II - 13235 Gulf Blvd. Madeira Beach

9. Johns Pass Village - 12901 Gulf Blvd. Madeira Beach

10. Total Realty Services - 13030 Gulf Blvd. Madeira Beach

The Sheriff's Office is still investigating the theft.