Jason R. Coody, U.S. Attorney | U.S. Attorney for the Northern District of Florida
Five individuals have been convicted in connection with a fraud scheme targeting the 401(k) accounts of elderly retired Florida school district employees. The announcement was made by Michelle Spaven, Acting United States Attorney for the Northern District of Florida.
Ronald Vargas, aged 38 from Osteen, Florida, admitted guilt on August 21, 2024, to charges including conspiracy to commit wire fraud and aggravated identity theft. Sarina Levy, aged 34 from Pembroke Pines, Florida, also pleaded guilty on August 8, 2024, to similar charges.
Lambert Aguebor and Floyd Bostic were found guilty by a federal jury on February 3, 2025. Aguebor was convicted of conspiracy to commit wire fraud and money laundering. Bostic faced multiple charges including conspiracy to commit wire fraud and operating an unlicensed money transmitting business.
Grace Aguebor entered a guilty plea on February 6, 2025. All defendants are scheduled for sentencing on April 28, 2025.
The scheme involved fraudulent withdrawal forms used to transfer retirement funds from victims' accounts into those controlled by the conspirators. In total, $1.1 million was stolen through this operation.
The investigation was conducted jointly by the Tallahassee Police Department and the FBI. Assistant United States Attorney Justin M. Keen prosecuted the case.
A hotline is available for seniors who may have experienced financial fraud at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This service offers support in reporting incidents and accessing resources for recovery.
Further information about elder justice initiatives can be found at www.justice.gov/elderjustice and related websites provided by government agencies focused on consumer protection and elder crime victimization support.
