MIAMI (AP) — A Miami police officer has been charged with being part of a fraud scheme that falsely promised investors high returns on loans to property in Costa Rica.
The Miami U.S. Attorney's Office said in a news release Tuesday that 41-year-old Officer Dermis Hernandez is charged with conspiracy to commit wire fraud. Prosecutors say Hernandez falsely promised investors big profits by putting their money into loans for people buying property in Costa Rica.
Instead, prosecutors say Hernandez and others used most of the money for themselves and to pay returns of earlier investors in a classic Ponzi scheme.
Miami police say Hernandez has been with the department since 2004 and is a member of the marine patrol unit.
It wasn't immediately clear Tuesday if Hernandez had a lawyer to represent him.