Miami Police Officer Arrested, Accused Of Running Ponzi Scheme

A Miami Police officer is accused of operating a Ponzi scheme, according to the FBI. 

Agents arrested 41-year-old Dermis Hernandez on Monday at Fort Lauderdale-Hollywood International Airport before he could board a flight to Costa Rica.

FBI investigators said Hernandez promised victims they would get guaranteed returns through high-interest loans his company made to Costa Rican property owners. Police said undercover investors were told the properties would be used as collateral for the loans and forfeited if the loans were not repaid.

Investigators said Hernandez and his co-conspirators instead spent the majority of investor funds on personal use and to pay the returns of other investors.

Hernandez was charged by complaint with a conspiracy to commit wire fraud. The case will be tried in federal court.

This marks the second arrest of a City of Miami Police officer this month. 

Officer Adrian Santos was arrested Jan. 2 on drug charges.


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