German Nino, Wire Fraud, Florida 2022

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German Nino, Former UBS Advisor, Pleads Guilty to Wire Fraud Scheme

Miami, Florida – In a shocking turn of events, former UBS Financial Advisor German Nino has pleaded guilty to defrauding over $5 million from his clients in a brazen wire fraud scheme. According to court documents, Nino, a resident of Broward County, was a financial advisor working at a branch office of UBS Financial Services Inc. in Miami from about 2012 to 2020.

As part of his plea agreement, Nino admitted to making a total of 62 unauthorized transfers from three UBS accounts belonging to the victims, totaling $5,833,218.59. To carry out the scheme, Nino made false and fraudulent statements to his victims, concealed and omitted material facts, and forged signatures on documents.

The victims, a family who maintained several accounts at UBS, were unaware of the unauthorized transfers until they discovered the scheme. Nino’s actions were a clear breach of trust, and his clients suffered significant financial losses as a result.

Nino is scheduled to be sentenced on June 21, 2022, before U.S. District Judge Donald L. Graham. He faces up to 60 years imprisonment for his crimes.

The FBI investigated the case, and Assistant U.S. Attorney Deric Zacca is prosecuting it. Assistant U.S. Attorney Emily Stone is handling asset forfeiture. The U.S. Attorney’s Office for the Southern District of Florida and the FBI Miami made the announcement.

The case highlights the importance of vigilance in financial transactions and the need for individuals to monitor their accounts closely. It also underscores the severity of the consequences for those who engage in wire fraud schemes.

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 22-cr-20020.