Eight Indicted for Massive Financial Fraud Scheme in Puerto Rico

Eight Individuals Charged with Federal Crimes Including Bank Fraud, Wire Fraud, and Money Laundering

San Juan, Puerto Rico — In a significant development in an ongoing investigation, a federal grand jury returned a superseding indictment on October 28, 2022, charging eight individuals with various federal crimes associated with a financial fraud scheme. The alleged scheme involved the unauthorized use of debit cards belonging predominantly to elderly clients of Banco Popular de Puerto Rico.

Alleged Scheme and Charges

The suspects, who include Ángel De La Rosa, Raisa Raymundo-Vargas, Adonis Marquez-Marte, Josué Figueroa-López, Mirkin Espinosa-Salvador, Jan González-López, Nicole Figueroa-De Jesús, and Edwin Peña-Valdez, are accused of the following crimes:

• Bank fraud
• Wire fraud
• Access device fraud
• Aggravated identity theft
• Money laundering conspiracy

According to the indictment, the suspects posed as federal agents or bank officials, visiting victims’ homes under the pretense of helping restore compromised accounts. They fraudulently obtained victims’ ATM debit cards and PIN numbers, which were used to purchase and cash Postal Money Orders.

Purchase and Laundering of Stolen Funds

De La Rosa and Marquez-Marte, as part of the scheme, purchased over $40,000 worth of jewelry in New York using the obtained funds and managed a jewelry store in San Juan as a means of laundering the proceeds.

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Official Statements

“This office is committed to prosecuting individuals who prey on others, most notably the elderly and other vulnerable members of our community,” said United States Attorney W. Stephen Muldrow. He urged individuals to protect their personal information and encouraged reporting any suspected fraudulent activity to banks directly.

“The protection of senior citizens from criminals who target them is a top priority for the U.S. Postal Inspection Service,” said Juan A. Vargas, Acting Inspector in Charge of the Miami Division.

Special Agent in Charge of the FBI San Juan Field Office, Joseph González, emphasized the need to break the silence surrounding elder fraud, as perpetrators often target the vulnerable and shame or fear may deter victims from reporting. The FBI urges anyone who has been a victim or a witness of an elder fraud scheme to report it by calling 787-987-6500 or visiting Tips.FBI.gov.

Penalties and Assets Subject to Forfeiture

Any convicted defendants in this case face a maximum prison sentence of 30 years and a mandatory two-year sentence for aggravated identity theft charges. Additionally, approximately $619,344 and a seized vehicle are subject to criminal forfeiture. The Honorable District Court Judge will determine sentencing following the conclusion of the trial.

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Prosecution and Contact Information

Assistant U.S. Attorney Alexander Alum is leading the prosecution of the case. Anyone with concerns about identity theft or seeking prevention information can visit the Federal Trade Commission ID Theft website at www.ftc.gov/idtheft.

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Important Note

An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.