MIAMI — The former interim director of Miami’s Wynwood Business Improvement District is facing more than two dozen counts of grand theft and a charge of organized fraud.

Florentino Antonio Diaz, 45, of Coral Gables, was booked into the Turner Guilford Knight Correctional Center on Tuesday.

According to prosecutors, in April of 2025, the autonomous municipal board representing 400 property owners in the 50 city-block Arts District switched banks.

Diaz, who was assigned to spearhead the transfer of funds, is accused of forging the vice chairman’s signature on a fraudulent letter asking the bank they were transferring funds from to deposit a final interest payment of more than $46,000 directly to him, then resigning from his position shortly after.

Then on June 11, a Miami Police Department Economic Crimes Unit detective contacted the State Attorney Office’s Public Corruption Unit Task Force and asked them to review the case “due to the political ties between the Wynwood BID and the city of Miami.”

Once the bank was made aware, it reimbursed the Wynwood BID for the full amount investigators say Diaz diverted.

They started to check other bank records and found other transactions Diaz initiated that “appeared irregular and indicative of potentially fraudulent activity.”

A total of 26 questionable wire transfers to Diaz’s bank account, totaling more than $146,000, were found.

Diaz is also accused of pocketing a $9,000 accidental overpayment to its auditing firm.

As of Tuesday afternoon, he remained behind bars at TGK on a bond of $46,000.

The Wynwood BID released a statement to Local 10 News which can be read below:

The Wynwood Business Improvement District’s Board Chair and signatories identified financial discrepancies and called for an independent audit, which confirmed that approximately $192,000 in unauthorized financial transactions were done by a former employee. Upon discovery, the Wynwood BID Board immediately notified law enforcement and legal counsel. The matter was referred to the State Attorney’s office, and the individual no longer works for the Wynwood BID.

Approximately $46,000 has been recovered to date, and efforts to recover additional funds will continue through legal channels.

In response, the BID has implemented comprehensive new internal controls, including dual authorization requirements for all electronic payments, separation of transaction initiation and approval functions, independent monthly review of all payment activity by Board members, restricted bank access with multifactor authentication, and formalized financial policies across all disbursement processes.

Our board oversight worked as intended. When our leadership identified concerns, we took immediate action to investigate and address them. We’ve implemented strong safeguards to prevent this from happening again. All Wynwood BID programs and services, including safety, cleanliness, marketing, and economic development initiatives, continue without interruption. The organization remains financially sound and committed to our mission of serving the Wynwood community.

— Wynwood Business Improvement District

ABOUT THE WYNWOOD BID

Since 2013, the Wynwood Business Improvement District, a municipal board of the City of Miami representing more than 400 property owners that comprise the 50-city-block Arts District, aims to build upon Wynwood’s role as a globally recognized center for arts, innovation and culture. It works to enhance security and sanitation services in the neighborhood, advocate for the betterment of the area, raise awareness of advancements being made, and plan for the future of Wynwood.

More: https://wynwoodmiami.com/learn/our-story/

Wynwood BID Map: https://wynwoodmiami.com/wp-content/uploads/02.05.18-WYNWOOD-BID-MAP.pdf

Wynwood business district employee accused of corruption

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Christina Vazquez