A 79-year-old man from Hialeah has been arrested for allegedly posing as a certified public accountant and defrauding businesses of more than $500,000, according to authorities.
Police identified the suspect as Francisco Marrero, who now faces multiple charges, including organized fraud, grand theft, practicing accounting without a license and money laundering. A judge set his bond at $500,000 during a court appearance on Friday.
The Miami Police Department said the investigation began about a year ago after several victims came forward with complaints. Authorities allege Marrero handled tax-related matters for multiple businesses, managers and employees over several years.
Investigators claim he failed to submit required payments to the IRS, which raised concerns among his clients. The total financial losses tied to the case are estimated to exceed $500,000.
One of the reported victims includes El Toro Loco Churracqueria, where a business owner said Marrero had been entrusted with financial responsibilities but instead engaged in fraudulent activity.
Police said suspicions grew when one client hired an independent accountant to review records and discovered discrepancies, prompting a report to authorities.
Marrero was taken into custody at a property on West 65th Street. The case remains under investigation, and officials have not confirmed how many victims may be involved.