Frank A. Rubino, ESQ.

FEDERAL AND INTERNATIONAL CRIMINAL DEFENSE

Coral Gables: 305-858-5300
Houston: 713-574-7716
Toll-Free: 1-866-718-3994
Main Menu
Practice Area

Banker faces charges of embezzling $17 million

A search for a fugitive recently reached ended after authorities searched throughout Florida and Georgia for him. The man, accused of the white collar crime of embezzlement in both states, eluded capture for over a year. He was booked into jail by the Sheriff's Office of Glynn County, Georgia. The sheriff's office reported that he had been detained for giving false information to a law enforcement officer. Once in custody, he was held for transfer to federal authorities, who have been seeking him for a long time.

The man, 47, is referred to by the Federal Bureau of Investigation as a former investment banker and minister. The FBI has taken a strong role in the investigation and search process. They did not say exactly how or why the man was first detained in Glynn County.

According to allegations, the man orchestrated a scheme that started in a small town and then drew in residents from multiple states, including Florida. He is said to have defrauded 115 investors, raising about $40 million from them and then using that money fraudulently. The complaint against him says that instead of investing that money as he promised, he wired the money to his personal accounts. Once that was done, the complaint says, he altered documents to deceive investors into believing that the money had been used to buy U.S. treasury bonds.

Embezzlement is a serious offense. Many things can affect the charges associated with it, such as how much money was involved and which states it happened in. Anyone accused of a white collar crime like embezzlement may want to consult with an experienced criminal defense attorney to ensure he or she is advised of all the legal options that may be available.

Source: CNN Justice, "Georgia banker who allegedly embezzled $17 million captured after years on lam" Cristy Lenz and Greg Botelho, Dec. 31, 2013

No Comments

Leave a comment
Comment Information

Coral Gables Office

Frank A. Rubino, Esq.
550 Biltmore Way Suite 780
Coral Gables, FL 33134

Local: 305-858-5300
Toll Free: 1-866-718-3994
Coral Gables Law Office Map
Email the Firm

Houston Office

Frank A. Rubino, Esq.
712 Main St
Houston, TX 77002

Local: 713-574-7716
Toll Free: 1-866-718-3994
Map and Directions
Email the Firm