City of Miami police officer Dermis Hernandez, 41, of Homestead, was arrested by the FBI for participation in a ponzi scheme where Hernandez falsely represented to victim investors that he was able to offer a low risk investment with guaranteed returns through high-interest loans his company made to Costa Rican property owners.
On January 29, 2018, Hernandez was arrested at the Fort Lauderdale airport before boarding a flight to Costa Rica. Hernandez was charged by complaint with a conspiracy to commit wire fraud.
It is alleged that, Hernandez told investors that their investment funds provided loans for the property owners in Costa Rica whose real property would be used as collateral for the loan and forfeited if the loan was not paid. In truth, Hernandez and his co-conspirators used the majority of investor funds for personal enrichment and to pay the returns of other investors.
