A Florida man was recently accused by federal authorities of a massive fraud scheme. The allegations of white collar crime involve identity theft, wire and bank fraud, including the theft of more than $2 million in cash. He now faces a 36 count indictment involving alleged losses that could reach as high as $3 million.
The 32-year-old is accused of masterminding and executing the scheme. In doing so, he is said to have acquired two Maseratis, a Jaguar and a Rolex watch. Authorities say the man even purchased a luxury condominium in Miami for $775,000 in cash. Apparently, he also had a penchant for gambling.
Allegedly, the funds were gained through stolen identities, lies and outright theft. Reportedly, the accused had been living as a fugitive for a number of months and was ultimately apprehended at his mother's New York home. He was returned to Florida and is currently being held in the Broward County Jail, pending arraignment. It appears that prosecutors intend to oppose any bail request on the basis that the man is a flight risk, and defense counsel will likely address that issue when the expected not guilty plea is made in federal court.
Some of the white collar crime counts carry a potential prison term of up to 30 years. Clearly, there are a number of serious factual and legal issues that must be addressed quickly and meaningfully. Whether in federal court or a Florida criminal court, financial fraud cases are complicated and often difficult to prove. Nevertheless, the sheer breadth of the accusations require that a focused defense be prepared and presented on the man's behalf.
Source: sun-sentinel.com, "Man used ID theft, $2 million in stolen cash to fuel lavish lifestyle in S. Fla., feds say", Paula McMahon, June 24, 2016