LAWFUEL – Legal Newswire – R. Alexander Acosta, United States Attorney for the Southern District of Florida; Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Division; and Don B. Saxon, Commissioner, Office of Financial Regulations, announced today the unsealing of a nineteen (19) count Indictment charging two defendants in connection with a conspiracy to solicit foreign investors to purchase purported World Bank bonds. Jose Rafael Mirabal and Ernesto J. Casco were charged with several counts of conspiracy, wire fraud, and money laundering.
According to the Indictment, between 2002 and 2006, Mirabal and Casco solicited at least twelve foreign nationals living abroad and sold them bonds, purportedly issued by the World Bank also known as International Bank for Reconstruction and Development (“IBRD”). Mirabal and Casco represented to the investors that they were selling the bonds through Omicron Financial Group. Omicron Financial Group was never registered in the State of Florida. At Mirabal and Casco’s request, the investors wire transferred monies into an account opened at Turnberry Bank in Miami, Florida under the name of “International Reconstruction & Development LLC” (“IRD”), an account opened on or about April 25, 2003 by Mirabal and Casco. In addition, Mirabal and Casco also directed investors to wire transfer monies into a CSC/UBS Paine Webber brokerage account, which was opened by Mirabal under the name of IRD. On or about September 30, 2002, Mirabal and Casco registered IRD as a limited liability company in the State of Florida. The monies received from investors was not used to purchase World Bank bonds. Instead, the money was used for their personal benefit, including the purchase of local real estate. The investigation has revealed that between August, 2002 and January, 2006, Mirabal and Casco sold over $1.5 million in bonds, identifying the World Bank as the issuer, to investors. Representatives of the World Bank confirmed that they did not issue the bonds and that the bonds are in fact fraudulent.
If convicted of all counts, the defendants face up to 20 years imprisonment on the conspiracy count, 20 years imprisonment as to each wire fraud count, 10 years imprisonment as to the money laundering conspiracy count, and 10 years imprisonment for each money laundering count.
Mr. Acosta commended the investigation efforts of the Federal Bureau of Investigation, and the Office of Financial Regulations for its technical expertise. This case is being prosecuted by Assistant United States Attorney Rosa Rodriguez-Mera.
A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.