Miami Lakes attorney accused of embezzling millions from investment fund

A Miami Lakes attorney has been charged in federal court accused of embezzling millions of dollars from investors whose funds he was entrusted to hold in an attorney trust account the Department of Justice reported According to court documents -year-old Rodolfo Mario Blanco was retained to serve as an escrow agent for an commitment fund and received several million dollars between September and December under the false pretense that he would safeguard the money Prosecutors explained that beginning in November and continuing through July Blanco made a series of large cash withdrawals teller transfers and wire transfers from the account including two substantial transfers used to purchase a residence in the Miami area During that period he allegedly misled investors and fund directors about the status and balance of the account In February and April Blanco is accused of sending false emails claiming the funds were frozen due to compliance reviews allegedly fabricating bank communications and falsified screenshots to aid his proposes Blanco faces counts of wire fraud and counts of engaging in monetary transactions in criminally derived property If convicted he could face up to years in federal prison for each wire fraud count and up to years for each money laundering count