Florida Man Pleads Guilty to Stealing Over $800,000 from Elderly Victim’s Bank Account
MIAMI – In a shocking case of financial exploitation, Michel Duarte Suarez, a 50-year-old Cuban national, pleaded guilty to his role in a scheme to steal over $800,000 from an elderly victim’s bank account.
Suarez directed the scheme from his residence in Panama, where he created and mailed fraudulent checks to South Florida with instructions to cash them and return 50% of the proceeds to his Miami-based company, Online Electronics.
The victim, an 82-year-old, was targeted by Suarez, who obtained control over the victim’s bank account. Suarez and his co-conspirators stole approximately $803,000 from the victim’s account during a four-month period.
Suarez was initially indicted in September 2023 but resided in Panama City, Panama at the time. He was arrested in January 2025, after returning to the United States, and brought to South Florida to face the charges.
According to court documents, Suarez confessed to a confidential informant in March 2022 that he had access to the victim’s bank account. Suarez’s scheme relied on forging the victim’s signature on checks and mailing them to South Florida for cashing.
Suarez pleaded guilty to one count of conspiracy to commit bank fraud and mail fraud (Count 1) and one count of aggravated identity theft (Count 4). He faces up to 30 years in prison on Count 1, and an additional mandatory two years in prison, to run consecutive to any term of imprisonment imposed on Count 1.
Sentencing is set for September 29, 2025, in Miami before United States District Court Judge Kathleen M. Williams. Suarez’s guilty plea marks a significant victory for law enforcement in their efforts to protect vulnerable individuals from financial exploitation.
Related Federal Cases
- Larry Malone Sentenced for Bank Fraud, Bainbridge GA, 2014 · Georgia
- Viviane Cazeau, Bank Fraud Scheme, Massachusetts, 2023 · New Hampshire
- John M. Bales, Bank Fraud Conspiracy, Texas, 2023 · Oklahoma
- Nazaret Chakrian, ID Theft and Wire Fraud, California 2023 · Idaho
- Orlando Pascual Jr., HIV Treatment Medicare Fraud, Miami FL, 2023 · Alabama
Key Facts
- State: Florida
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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