MIAMI-DADE COUNTY, Fla. – Unit 210 of the Coral Point Plaza in west Miami-Dade’s Fontainebleau area is shown in 2024 Google Street View images as devoid of signage or any apparent signs of activity. State records show it’s the official address of a company federal prosecutors said was used as a front for a $40 million Ponzi scheme.
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They said the company in question was E-Card Merchant, registered to the 8410 W. Flagler St. strip mall under registered agent Pablo Silverio Rebollido.
Silverio Rebollido, 47, could end up a registered inmate at a federal prison. Prosecutors announced Thursday that he’s facing a wire fraud charge that carries a possible two-decade-long prison sentence.
According to the U.S. Department of Justice, Silverio Rebollido sold investors on E-Card Merchant, also known as E-Card Lending, which claimed to provide businesses short-term financing at high interest rates “in exchange for a percentage of future E-Card’s credit card sales or daily bank deposits.”
Authorities said from 2019 to 2024, he solicited money from investors, supposedly to finance the loans to clients, in exchange for regular monthly investment returns.
But prosecutors said there were no clients and Silverio Rebollido instead “used the investment funds to pay off earlier investors and finance his extravagant lifestyle.”
More than 70 investors are believed to have fallen victim to the E-Card scheme, according to a DOJ news release.
The FBI has set up a website as it seeks information about potential victims, who may be eligible for restitution.
Meanwhile, Silverio Rebollido is set to make an initial appearance in Miami federal court on April 11.