HOLLYWOOD, Fla. – Hollywood police detectives and the U.S. Marshals Fugitive Task Force arrested a 53-year-old man Tuesday on charges of organized fraud and investment fraud, authorities confirmed.
Police said the arrest follows an investigation that began in 2021, revealing that Claudio Maria Cassina had posed as a stock investor and scammed at least six victims out of more than $250,000.
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Cassina allegedly convinced his victims by presenting himself as an investor with “CMC Option Trade LLC” and showing them screenshots of supposed investment accounts. He issued checks totaling nearly $30,000 as returns on the investments, but the checks later bounced due to insufficient funds, according to detectives.
Authorities discovered that Cassina did not have a stock trading license and that he used the victims’ funds for personal expenses, including cash withdrawals and wire transfers to himself and his family within days of receiving the wire transfers.
Authorities believe there may be additional victims who were defrauded by Cassina.
Jail records show Cassina is facing one count each of first-degree organized fraud and first-degree fraud investment transactions.
As of Wednesday, Cassina is being held on a $50,000 bond at the Broward Main Jail.
Anyone who suspects they may be a victim is urged to contact the Hollywood Police Department at 954-764-4357 or 954-967-4567
Tipsters can also email or text Hollywoodpdtips@hollywoodfl.org, or provide information to Broward Crime Stoppers at 954-493-8477.