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 that were placed in his attorney trust account.
Court documents state that Blanco was hired as an escrow agent for an investment fund. From September to December 2023, he reportedly received several million dollars from both corporate and individual investors into his trust account. Prosecutors allege that Blanco assured investors he would securely hold their funds but instead used the money for unauthorized purposes.
According to authorities, starting in November 2023 and continuing through July 2024, Blanco made a series of large teller transfers, cash withdrawals, and wire transfers from the trust account. Among these transactions were two significant transfers used to purchase a residence in the Miami area. During this period, it is alleged that Blanco provided false information about the status and balance of the trust account to investors and fund directors.
In February and April 2024, prosecutors claim Blanco sent emails to fund directors falsely stating that he could not release investment funds due to diligence and compliance reviews affecting his trust account. He allegedly supported these claims with fabricated bank communications and falsified screenshots.
Blanco faces 11 counts of wire fraud and 11 counts of engaging in monetary transactions with criminally derived property. Each count of wire fraud carries a maximum sentence of up to 20 years in federal prison if convicted, while each money laundering count 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 FBI Miami office is conducting the investigation, while Assistant U.S. Attorney Sterling M. Paulson is prosecuting the case.
Authorities emphasized: “An indictment contains mere allegations, and all defendants are presumed innocent unless and until proven guilty in a court of law.”
Information about related court documents can be found at www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov under case number 25-cr-20465.
