KENDALL, Fla. — A former Miami-Dade bank employee has been arrested on accusations that he stole more than half a million dollars from a disabled woman by exploiting his position of trust, Miami-Dade prosecutors said.
Jail records show Mario Martinez, 40, is facing one count each of exploitation of elderly and/ or disabled person, organized fraud of $500,000 or more, first-degree grand theft of over $100,000, fraudulent use of identification and tampering with a victim or witness.
Authorities said Martinez previously worked at a Bank of America branch on Southwest 136th Street in Kendall.
Miami-Dade State Attorney Katherine Fernandez Rundle said the victim, a 47-year-old woman who uses a specialized mobility device, had recently received an inheritance and relied on full-time caregivers to assist with daily activities and financial matters.
According to investigators, the Miami-Dade Sheriff’s Office began looking into the case on Jan. 16 after a supervisor at the Bank of America branch reported suspicious activity involving one of its employees and a client.
Detectives said Martinez opened a joint investment account with the victim without her knowledge and moved money from her sole investment account into the joint account for his own benefit.
They said Martinez, who held a senior position at Bank of America financial adviser and was classified as a supervisory financial service advisor, offered to manage and invest the victim’s money even though “his responsibilities did not include managing nor opening client investment accounts, and such activity fell outside of his authorized duties.”
Investigators later determined the victim did not authorize any new accounts or transactions and was unaware of how her funds were being handled.
Martinez’s arrest report stated that he also visited the victim’s home multiple times and at one point asked to borrow $120,000, claiming he was in financial trouble.
Bank records showed that the money was later deposited into an account belonging to Martinez’s daughter, according to the report.
Investigators said Martinez attempted to contact the victim after the scheme was discovered and later returned to her home, actions that led to an additional witness tampering charge.
Prosecutors allege Martinez’s actions resulted in a total loss of $514,496.
Fernandez Rundle said his arrest is being used as a reminder for families and caregivers to closely monitor the finances of vulnerable loved ones, particularly during the holiday season.
As of Wednesday, he is being held without bond at the Turner Guilford Knight Correctional Center.
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