Accused of fraudulent transactions worth more than $5 million

Federal authorities reported the arrest Manuel Burgos-Ortiz On allegations related to various schemes Bank fraud, aggravated identity theft, money laundering and electronic fraud,

He 28 year old man, resident of BayamonWas arrested last Tuesday, March 19.

According to court documents, from July 2021 to September 2021, Burgos-Ortiz knowingly perpetrated a scheme and artifice to defraud a federally insured financial institution and obtain funds, money, credit, and property through pretenses, representations, and promises. Executed and attempted to execute. Materially false and fraudulent.

“The accused committed the incident and attempted Performed over 70 fraudulent refund transactions totaling over $5,000,000 Using two debit cards and a point of sale (POS) system,” the federal prosecutor’s office reported.

It was indicated that the defendant was able to apply for and receive benefits without legal authority and using another person’s identity. Shortly after receiving the POS system, “the defendant began making fraudulent refund transactions on two debit cards linked to the bank account.” Global Marketing PR LLCA company which he owned and controlled.

“The fraudulent refund transaction created a temporary incorrect balance of funds in Global Marketing PR LLC’s bank account. By taking advantage of the transaction verification process, the defendant was able to gain access to funds to which he was not entitled and was able to spend funds that did not belong to him. Throughout the scheme, the defendants managed to use funds generated from fraudulent POS refund transactions and temporarily available in their accounts to make numerous purchases, cash withdrawals and transfers from ATH Movil, resulting in overdrafts of more than $270,000. Happened. Specified.

The federal prosecutor’s office argues that the defendant participated in monetary transactions in property obtained from crime by making transactions to purchase a new vehicle with the funds generated from the fraudulent reimbursement transactions, valued at more than $10,000.00, which Burgos-Ortiz was able to take. Could use. Benefits of transaction verification process. On July 23, 2021, two fraudulent refund transactions totaling more than $140,000 were made and approved using a POS system purchased by the defendant and a debit card associated with a Global Marketing PR LLC bank account. That same morning, defendant went in person to purchase a manager’s check for $74,036.25. “That same day, the defendant used the manager’s check to purchase a new black 2021 Dodge Rebel 1500.”

From November 2023 to February 2024, the defendants allegedly devised a scheme to defraud numerous small businesses and their owners and obtain money and property through false representation. As part of a scheme to defraud the defendant Fraudulently identified themselves as employees of a transaction processing company that provides business procurement, payment services, and business process management servicesGaining access to multiple POS systems to conduct fraudulent refund transactions using debit cards linked to accounts he owned or had access to.

“The defendant misrepresented himself as a legitimate business owner and employee of a company Stole money in many different ways“, W. Stephen Muldrow, federal prosecutor for the District of Puerto Rico, expressed in writing.

Muldrow said, “I commend the Secret Service agents and law enforcement partners who uncovered the complex web of financial transactions that led to the defendant’s arrest.”

If convicted, Burgos-Ortiz faces the following penalties: up to 30 years in prison for bank fraud; a mandatory consecutive sentence of at least two years for the aggravated identity theft charge; Up to ten years for money laundering; and up to 20 years in prison for wire fraud or up to 30 years in prison if the wire fraud violation affects a financial institution.

The United States Secret Service is investigating the case in cooperation with the Puerto Rico Police Bureau.

Assistant U.S. Attorney Manuel Muniz-Lorenzi of the Asset Recovery and Money Laundering Division is prosecuting the case.

If you believe you are a victim of any of the fraud schemes described above, or if you have any information about this defendant, please contact the San Juan Secret Service Resident Office. 787-277-1515,