A former Bank of America employee has been charged with allegedly defrauding a disabled Miami client of $500,000. Authorities say Mario Martinez, 40, used his position at the bank to open a joint account without the client’s knowledge and transfer funds to his own account, according to WSVN.
The Miami-Dade State Attorney’s office stated that Martinez used his position and the client’s trust to carry out the alleged theft. “Martinez utilized the victim’s trust and his bank position to allegedly steal over half a million dollars,” said State Attorney Katherine Fernandez Rundle and cited by NBC Miami. The Miami-Dade Sheriff’s Office began investigating in January after a Bank of America supervisor reported the suspicious activity. According to the arrest affidavit, Martinez created a joint account to secretly transfer funds, without the knowledge of the 42-year-old victim, who relies on a motorized wheelchair.
The alleged scheme was uncovered during a Bank of America internal investigation in December 2024, after which the victim was notified and authorities were alerted, leading to Martinez’s arrest. NBC Miami reported that the victim had known Martinez since 2016, during which he had assisted her with banking services. When the client inherited money and was unsure how to manage it, Martinez offered help, falsely presenting himself as a financial advisor, a role he did not hold.
Investigators said Martinez was familiar with the bank’s alert systems and took steps to avoid detection. “The investigation ultimately discovered that Martinez utilized the victim's trust and his bank position to allegedly steal over half a million dollars,” State Attorney Katherine Fernandez Rundle told NBC Miami. After resigning from Bank of America following the discovery of the fraudulent activity, Martinez reportedly tried to prevent the victim from contacting authorities, including delivering gifts to her home. He remains in custody and faces multiple charges, including exploitation of a disabled person, organized fraud, and first-degree grand theft.
Bank of America stated to WSVN that it is committed to protecting clients: “Whenever we learn of potential wrongdoing, we promptly investigate, fully cooperate with regulators and law enforcement, and work with the client to compensate them for any harm caused by an employee.”
