Four Men Arrested in South Florida for Allegedly Trying to Cash $27.9 Million U.S. Treasury Check
BROWARD COUNTY, Fla. — Federal authorities in South Florida have arrested four men accused of plotting to cash a stolen U.S. Treasury check worth nearly $27.9 million, allegedly attempting to launder the funds through bank accounts and an undercover agent posing as a financial adviser.
The suspects, identified as Carlos Manuel Villanueva, 37, of Florida; Eric Renard Bedford, 44, of Texas; Jorge Cruz Garcia, 30, of Texas; and John Ryan Boxie, 43, of Texas, were taken into custody on November 10 after being apprehended during a sting operation at a Broward County restaurant.
Federal Complaint Details Elaborate Multi-State Fraud Plan
According to the federal complaint, the check was originally issued to a Virginia-based company but had gone uncashed.
Investigators say Villanueva contacted an undercover agent and offered a $5.6 million share if the agent would help open accounts and process the stolen funds.
Court documents allege the men shared photos and videos of the Treasury check, discussed depositing between $300,000 and $400,000 daily to avoid detection, and detailed ways to move the money without drawing attention from regulators.
The sting was conducted by the U.S. Postal Inspection Service, which stepped in as soon as the suspects handed over the envelope containing the check to the undercover officer.
Federal Charges Filed and Bonds Set
The men now face federal charges including conspiracy to defraud the United States and theft of government property.
Federal prosecutors said all four suspects were taken into custody without incident and are being held at a Broward County detention facility.
A U.S. magistrate judge set bond at $100,000 for Bedford, Garcia, and Boxie, and $50,000 for Villanueva, each under a Nebbia hold, which requires verification that any bond money posted is not derived from criminal activity.
Authorities Credit Sting Operation With Preventing Massive Fraud
Federal investigators praised the undercover operation, noting that the case prevented a multi-million-dollar loss of taxpayer funds.
Officials said the men’s plan was sophisticated but ultimately failed once federal agents infiltrated their communications.
The defendants are expected to appear in federal court later this month. If convicted, they face up to 10 years in federal prison on the theft charge, with additional penalties possible under the conspiracy count.
Residents with information about large-scale financial crimes or Treasury-related fraud are encouraged to contact the U.S. Postal Inspection Service or federal law enforcement tip lines.
For more updates on this case and other financial crime stories, visit SaludaStandard-Sentinel.com.
