A Miami Lakes attorney, Rodolfo Mario Blanco, 60, appeared in federal court on October 28 to face charges related to an alleged scheme involving the embezzlement of millions of dollars from investment funds entrusted to his attorney trust account.
According to court documents, Blanco was hired as an escrow agent for an investment fund and received several million dollars from corporate and individual investors between September and December 2023. Authorities allege that he told investors he would securely hold their funds but instead made a series of large teller transfers, cash withdrawals, and wire transfers from the trust account starting in November 2023 through July 2024. Some of these transfers were reportedly used to purchase a residence in the Miami area.
Prosecutors claim that Blanco misled investors and fund directors about the status and balance of the trust account during this period. In February and April 2024, he allegedly sent emails to fund directors stating he could not release investment funds due to diligence and compliance reviews on his trust account. According to authorities, Blanco included fabricated bank communications and falsified screenshots in support of these claims.
Blanco faces 11 counts of wire fraud and 11 counts of engaging in monetary transactions involving criminally derived property. Each wire fraud charge carries a maximum penalty of 20 years in federal prison if convicted, while each money laundering charge carries up to ten years.
U.S. Attorney Jason A. Reding Quiñones for the Southern District of Florida and Special Agent in Charge Brett D. Skiles of the FBI’s Miami Field Office announced the charges. The case is being investigated by FBI Miami, with Assistant U.S. Attorney Sterling M. Paulson prosecuting.
Authorities remind the public that an indictment contains only allegations, and all defendants are presumed innocent unless proven guilty in court.
Further information about the case can be found at www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov under case number 25-cr-20465.
