Puerto Rico: Man Accused of Masterminding Multi-Million Dollar Financial Fraud Schemes
SAN JUAN, Puerto Rico – A Bayamón resident, Manuel Burgos-Ortiz, 28, stands accused of executing two separate financial fraud schemes resulting in over $5.6 million in illicit proceeds.
First Scheme: Defrauding a Financial Institution
According to federal court documents, Burgos-Ortiz allegedly:
- Used false and fraudulent pretenses: Beginning in July 2021, Burgos-Ortiz is believed to have deceived a federally insured financial institution to acquire over $5 million through 70 fraudulent refund transactions using two debit cards and a Point of Sale (POS) system.
- Impersonated a business owner: The suspect obtained access to a POS system by impersonating a legitimate business owner.
- Misappropriated funds: Burgos-Ortiz is accused of misappropriating funds intended for Global Marketing PR LLC, a company he owned and controlled.
Consequences of the First Scheme
As a result of the fraudulent transactions, Burgos-Ortiz:
- Purchased a new Dodge Rebel 1500 pickup truck.
- Created a false balance, which enabled him to withdraw funds he was not entitled to.
- Transferred funds to ATH Móvil, leading to an overdraft of over $270,000 in the company’s account.
Second Scheme: Unauthorized Access to Multiple POS Systems
From November 2023 to February 2024, Burgos-Ortiz allegedly:
- Impersonated legitimate business employees: The suspect gained unauthorized access to the POS systems of various small businesses by posing as employees.
- Conducted fraudulent refund transactions: Burgos-Ortiz is suspected of conducting fraudulent refund transactions worth over $1.6 million using debit cards associated with accounts he owned or had access to.
Potential Penalties
Burgos-Ortiz faces potential penalties totaling up to 80 years in prison.
| Crime | Potential Sentence |
|---|---|
| Bank fraud | Up to 30 years |
| Aggravated identity theft | Two-year mandatory consecutive sentence |
| Money laundering | Up to ten years |
| Wire fraud | Up to twenty years |
Investigation and Prosecution
The United States Secret Service, in collaboration with the Puerto Rico Police Bureau, is currently conducting the investigation. Assistant U.S. Attorney Manuel Muñiz-Lorenzi from the Asset Recovery and Money Laundering Division is prosecuting the case.
Contact Information
If you have any information related to the alleged criminal activities or believe you may be a victim, contact the Secret Service San Juan Resident Office at 787-277-1515. All suspects are presumed innocent until proven guilty in a court of law.