HOLLYWOOD, FLA. (WSVN) - A Hollywood man has been arrested on charges related to an alleged investment fraud scheme that swindled victims out of more than $250,000.
Claudio Cassina, 53, was taken into custody on Monday by Hollywood police detectives and the U.S. Marshals Fugitive Task Force.
He faces one count of organized fraud in the first degree and two counts of investment fraud in the first degree.
According to investigators, the scheme began in 2021 when Cassina posed as a stock investor with a company called “CMC Option Trade LLC.”
He allegedly convinced at least six victims to invest significant sums by presenting fake screenshots of investment accounts.
Cassina reportedly issued checks totaling nearly $30,000 as supposed returns on investments, but the checks bounced due to insufficient funds.
Detectives said they discovered that Cassina does not hold a stock trading license and used the victims’ funds for personal expenses, including cash withdrawals and wire transfers to himself and his family.
Authorities believe there may be additional victims.
Anyone who suspects they were defrauded by Cassina is urged to contact the Hollywood Police Department or Broward Crime Stoppers.
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