Eduardo Hernandez, Jr., Alexander Orriols, Jose Arias, and Milena Hernandez of Miami, Florida have been named in a release indictment for allegedly tricking financial institutions into issuing them loans, according to the U.S. Attorney's Office for the Southern District of Florida. Hernandez Jr., 32, Orriols, 43, Arias, 50, and Hernandez, 30, were booked into the Miami-Dade County Jail on charges of conspiracy to commit bank fraud and conspiracy to commit money laundering. It is unclear whether they qualified for bail bond. The press did not specify a lawyer for the defendants.
According to reports, the defendants either owned or were associated with companies in Miami-Dade County. The names of those businesses were not provided in the press release. It is unclear how long the alleged scheme went on for.
Reports say the defendants recruited straw buyers to help with the scheme. The buyers reportedly allowed the defendants to use their personal information to apply for loans. The loans were supposedly for boat purchases from the defendant's businesses; it is not clear whether the boats in question actually existed. The defendants allegedly drafted up fake documentation, including falsified financial records, W-2 Forms, and bank statements, for the straw buyers to ensure they got the loans.
Once the straw buyers were approved for the loans, the loan money would go to the defendants, according to the release. The defendants would pay a portion of that money to the straw buyers - some commission, plus enough to make monthly payments on the loans. The defendants reportedly paid the straw buyers directly with cash or through third party checking companies. The defendants allegedly kept the rest of the funds, which they used on personal expenses, according to the release. As part of an indictment against the defendants, prosecutors are asking for the return of the $1,585,657.10 that the defendants allegedly made off with.
Not all theft crimes are so elaborate. Dominick Andrew Giordano of West Boca was arrested Monday after he was accused of trying to break into a truck, reports say. Giordano, 32, was booked into the Palm Beach County Jail on charges of burglary. He was later released on unspecified terms. It is not yet known whether he has hired legal representation.