Armando Almirall, Wire Fraud Conspiracy, Virginia 2024

A Florida businessman has been sent to prison for orchestrating a scheme that caused over $1.7 million in losses to multiple victims.

Armando Almirall, 37, of Oviedo, was sentenced to five years in prison for conspiracy to commit wire fraud.

The scheme, orchestrated by Almirall and his co-conspirators, promised clients that they could help obtain funding for business purposes, such as real estate transactions and television projects. However, the majority of the funds were spent on personal expenses, cash withdrawals, and wire transfers without the clients' knowledge or consent.

To induce victims to provide Almirall's company, Aura Exchange LLC (AURA), with money, he and his co-conspirators made a host of fraudulent misrepresentations. These included representing to clients that AURA had an established business portfolio when no such portfolio existed.

Almirall also guaranteed victims that they would receive their initial equity deposits back, but none of the victims ever received any of their original investment nor any additional funding from AURA. Furthermore, Almirall claimed that AURA had offices in Zurich, London, and New York, when no such offices existed.

As part of his sentence, Almirall was ordered to pay over $1.77 million in restitution to the victims of the fraud scheme.

U.S. Attorney for the Eastern District of Virginia, G. Zachary Terwilliger, and Special Agent in Charge, FBI Washington Field Office, Matthew J. DeSarno, announced the sentencing.

Armando Almirall, Defendant

Conspiracy to Commit Wire Fraud, Criminal Charge

Alexandria, Virginia, City and State

February 22, 2024, Exact Date

Five years in prison, Sentence

$1.77 million, Restitution Amount

Source: https://www.justice.gov/usao-edva/pr/florida-businessman-sentenced-prison-fraud-conspiracy