Financial Crime Conspiracies Great and Small
The media sometimes use the expression “white collar crime” in reference to financial crime, but not all financial crimes involve high-ranking employees at big businesses. When we hear the phrase white collar crime, we think of stockbrokers selectively revealing confidential information about the market to investors, well paid doctors submitting false claims to insurance companies or to public healthcare programs like Medicare and Medicaid, or executives embezzling money from the companies where they work in cushy offices and buy their lunches with credit cards linked to corporate expense accounts. You do not have to be a business executive who wears a suit at work for your misdeeds to fit the definition of financial crime, though. Fraud is a financial crime no matter who does it and no matter who loses money because of it. Here, our Miami white collar crime lawyer explains recent financial crime cases where the alleged crimes happened in the context of small businesses and even during informal gambling games.
Defendant Disappears After Arrest for Alleged Role in COVID Relief Fraud Scheme
During the COVID-19 pandemic, the federal government offered grants and forgivable loans to small businesses through a variety of programs designed to help them cover their expenses and therefore continue paying their employees. These programs, such as the Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDL), Shuttered Venue Operators Program (SVOP), and Restaurant Revitalization Fund (RRF) had quick review processes, leading to some fraudulent loan applications getting approved and receiving funds.
In May 2026, a South Florida woman was arrested for her alleged role in a conspiracy to misappropriate COVID relief funds. The defendant and her co-conspirators allegedly filed more than 90 fraudulent loan applications, either applying in the name of non-existent businesses or using the names of real businesses but including other false information on the loan applications, such as the payroll expenses and other expenses of the businesses. The group received a total of $29.1 million from PPP, $1.2 million from RRF, and $3.2 million from SVOP. They transferred the money to various accounts controlled by the co-conspirators.
After the defendant’s arrest, the court scheduled a hearing for June 5, where the defendant was to enter pleas of charges of wire fraud, money laundering, and financial crimes conspiracy. She did not appear in court, and the last time that prosecutors are sure that she was in South Florida is June 3. She is now on the FBI’s list of fugitives and could face additional charges for obstructing justice, besides the financial crime charges.
Two Miami Men Face Criminal Charges for Fraudulent Bottle Cap Game
Financial crime conspiracies are not always as elaborate as submitting loan applications with false information and wiring the proceeds among dozens of bank accounts to make the money more difficult to trace. It is also possible to get financial crime charges for scams that are little more than an adult version of schoolyard pranks.
Whenever a stage magician performs at an elementary school event or at a child’s birthday party, there is usually at least one child in the audience who becomes determined to learn to perform the tricks himself or herself. What looks like magic is actually sleight of hand, moving or concealing objects while the audience’s attention is elsewhere. If you use sleight of hand benevolently, you can impress your friends. You can also use it to cheat at games of chance.
In the spring of 2026, two men in Miami would invite strangers to bet on a bottle cap game. One of the men introduced himself to bettors as Bank Roller. Bank Roller and his accomplice would rig the games through sleight of hand but encourage bettors to keep betting. After a man lost $4,000 in an afternoon of playing the bottle cap game, he complained to the police about his suspicions that it was fraud, rather than a friendly game of chance. The accomplice was arrested and is now facing felony charges for fraud. At the time of the accomplice’s arrest, Bank Roller was already being detained after his arrest for a financial crime unrelated to the bottle cap game. Both men’s cases are still pending as of June 2026.
Contact Our Criminal Defense Attorneys
A South Florida criminal defense lawyer can help you if you are facing criminal charges after allegedly conspiring with others to defraud individuals, financial institutions, or government entities or attempting to conceal the fraudulent nature of your transactions. Contact Ratzan & Faccidomo in Miami, Florida for a confidential consultation about your case.
Sources:
nbcmiami.com/news/local/miami-woman-charged-in-34m-scheme-makes-fbis-most-wanted-fraudsters-list/3818086/
wsvn.com/news/local/miami-dade/miami-man-used-rigged-bottle-cap-game-to-scam-victim-out-of-4k-police-say/
