Financial Crime World

Manuel Burgos-Ortiz of Bayamón Charged with Financial Crimes in Puerto Rico

Arrest and Allegations

  • Manuel Burgos-Ortiz, 28, from Bayamón, was taken into custody on March 19, 2024, by the United States Secret Service.
  • He is accused of various financial crime schemes including: bank fraud, aggravated identity theft, money laundering, and wire fraud.

Bank Fraud and Identity Theft

  • Burgos-Ortiz allegedly defrauded a federally insured financial institution by executing a scheme involving fraudulent refund transactions totaling over $5.5 million.
  • Acquired a Point of Sale (POS) system using false pretenses in July 2021 and conducted fraudulent refund transactions.
  • Created a temporary false balance in Global Marketing PR LLC’s account and gained unauthorized access to funds, spending over $140,000 on a new vehicle.

Identity Theft and Fraudulent Refund Transactions

  • From November 2023 to February 2024, Burgos-Ortiz is accused of defrauding multiple small businesses and their owners.
  • He falsely presented himself as an employee from a legitimate transaction processing company to gain unauthorized access to their POS systems and conducted fraudulent refund transactions.

Penalties and Investigation

  • If convicted, Burgos-Ortiz faces penalties including 30 years in prison for bank fraud, a mandatory minimum of two years for aggravated identity theft, up to 10 years for money laundering, and up to 30 years in prison for wire fraud.
  • The United States Secret Service and Puerto Rico Police Bureau are currently investigating this case.

Contact Information

  • Anyone who believes they’ve been victimized by these fraudulent schemes or has any related information should contact the San Juan Resident Office of the United States Secret Service at (787) 277-1515.
  • A criminal complaint is an allegation and does not establish guilt. Burgos-Ortiz is presumed innocent until proven guilty in a court of law.

Quote from W. Stephen Muldrow

  • W. Stephen Muldrow, United States Attorney for the District of Puerto Rico, stated, “The defendant falsely represented himself as a legitimate business owner and employee of a company and stole money in many different ways.”