POLK COUNTY, Fla. — Florida law enforcement officials said eight suspects have been arrested in connection with a multi-million-dollar fraud investigation.
According to the Polk County Sheriff’s Office, the bank fraud and racketeering scheme impacted 235 victims across various states and stole $8.8 million in funds.
The investigation, which began in April 2023, was conducted with the assistance of the Florida Attorney General’s Office of Statewide Prosecution, the Florida Attorney General’s Cyber Fraud Enforcement Unit, the Florida Department of Law Enforcement, and detectives from several other states.
The suspects targeted elderly victims, transferring money into accounts they opened to disburse among themselves or make purchases.
Officials said the investigation was triggered when Synchrony Bank noticed suspicious activity tied to a newly opened account belonging to 27-year-old Michael Nevarez of Lakeland.
According to a report, the account received a $250,000 transfer, and the funds were quickly dispersed to other accounts.
Detectives said they discovered that the stolen account information originated from three bank employees in Maryland.
Deputies said the employees, including 65-year-old Barbara Frazee and 57-year-old Camala Shafer, had access to customer data, which was then sold via the Telegram app.
Investigators said Nevarez and others, including 26-year-old Roshado Durrant and 23-year-old Hassan Phillips, were involved in transferring and receiving large sums of money.
Durrant admitted to acting as a recruiter, facilitating the sale of stolen bank credentials, officials said.
Detectives said the investigation revealed that a majority of the compromised accounts were accessed using Frazee’s credentials.
“This wasn’t some small-time scam; this was a well-organized fraud ring stealing millions from innocent victims across the country,” said Polk County Sheriff Grady Judd. “They thought they could hide behind mobile apps and fake accounts, but we found them. And we’ll continue to go after anyone who targets hardworking people’s life savings. Racketeering is a serious crime, and these suspects are facing serious consequences for their illegal criminal conduct.”
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