MIAMI LAKES, FLA. (WSVN) - A Miami Lakes attorney has been charged in federal court, accused of embezzling millions of dollars from investors whose funds he was entrusted to hold in an attorney trust account, the Department of Justice announced.
According to court documents, 60-year-old Rodolfo Mario Blanco was retained to serve as an escrow agent for an investment fund and received several million dollars between September and December 2023 under the false pretense that he would safeguard the money.
Prosecutors said that beginning in November 2023 and continuing through July 2024, Blanco made a series of large cash withdrawals, teller transfers, and wire transfers from the account, including two substantial transfers used to purchase a residence in the Miami area.
During that period, he allegedly misled investors and fund directors about the status and balance of the account.
In February and April 2024, Blanco is accused of sending false emails claiming the funds were frozen due to compliance reviews, allegedly fabricating bank communications and falsified screenshots to support his claims.
Blanco faces 11 counts of wire fraud and 11 counts of engaging in monetary transactions in criminally derived property.
If convicted, he could face up to 20 years in federal prison for each wire fraud count and up to 10 years for each money laundering count.
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