The Real Deal — Francisco Alvarado _Feb. 5, 2026
Germán Coto allegedly engaged in self-dealing via bogus contracts that lined his pockets, according to a lawsuit.
Aston Martin Residences developer Germán Coto is accused of siphoning millions of dollars from condo owners, according to a bombshell lawsuit being reported for the first time by The Real Deal.
Coto is accused of running “an immense shell game” via condo association contracts to vendors with close ties to Coto.
The 300 Biscayne Boulevard Way Condo Association sued Coto and a web of his business entities, as well as his mother and associates who allegedly helped him defraud the association before unit owners took over the board.
The complaint, filed in Miami-Dade Circuit Court, accuses the developer and his alleged cohorts of self-dealing, fraud, breaches of fiduciary duty and violations of Florida’s Condominium Act. The association claims the alleged scheme left the building with incomplete records, misappropriated funds and long-term financial harm.
The lawsuit is seeking more than $5 million in damages.
The condo association hired lawyers and forensic accountants “to uncover a lot of self-dealing, a lot of theft and a lot of manipulation by the management company to benefit the developer at the financial expense of the owners and the association,” said Michael Diaz Jr., an attorney and Aston Martin Residences condo owner who was elected the association’s president last year.
