A lawsuit filed by the 300 Biscayne Boulevard Way Condo Association accuses Germán Coto, developer of the Aston Martin Residences in Miami, of misappropriating millions of dollars from condo owners through contracts with vendors allegedly tied to him and his associates. The suit, reported for the first time by The Real Deal, claims Coto operated “an immense shell game” that left the building with incomplete records and long-term financial harm.
The complaint was filed in Miami-Dade Circuit Court against Coto, a network of his business entities, his mother Gloria Garcia, and other associates. Allegations include self-dealing, fraud, breaches of fiduciary duty, and violations of Florida’s Condominium Act. The association is seeking over $5 million in damages.
Michael Diaz Jr., an attorney and current president of the condo association board who is also a unit owner, stated: “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.’”
Specific accusations involve inflated or bogus invoices for cleaning, security services lacking experience or credentials, water-damage repairs without competitive bidding or documentation, payments for concierge services not rendered, and about $70,000 in rent paid for an office space allegedly used as a sales office rather than management needs. According to court documents cited in The Real Deal’s report (https://therealdeal.com/miami/2026/02/03/immense-shell-game-aston-martin-residences-developer-accused-of-fleecing-owners/), these arrangements were often approved without proper board votes or disclosure of conflicts.
The luxury tower was completed in April 2024 by G&G Business Developments—Coto’s firm—in partnership with British automaker Aston Martin. The project reportedly sold out its 391 units for more than $1 billion after being built with a $200 million construction loan.
Defendants named alongside Coto include Gloria Garcia; former secretary-treasurer Marcelo Scarinci; former vice president Guillermo Cacagno; Leonardo Polo; and Maria Eliana Polo—managers or employees linked to contracted service firms. None responded to requests for comment from The Real Deal. Attorney Lewis Conwell said he had not seen the complaint nor had his client been served.
The lawsuit alleges that buyers were promised amenities such as a marina and helipad but found missing features and governance issues instead. It also details how contracts were awarded to companies managed by individuals connected to Coto without transparency or competition.
Attorney Ariella Gutman said: “They took every financial advantage they could … there was nobody who was independent and that was not related to the main entities that developed this building.”
Coto’s entity has countersued for $100,000 after its lease agreement with the association was terminated by new board leadership last year. Other legal disputes between involved parties remain pending.
