A former Bank of America employee has been arrested for using his position at the bank to steal $500,000 from a disabled woman in Miami, according to police.
Miami-Dade State Attorney Katherine Fernandez Rundle announced the arrest of 40-year-old Mario Martinez during a press conference, Tuesday. She says Martinez used his position at the bank and close relations with a disabled client to steal thousands of dollars from her.
“Martinez utilized the victim’s trust and his bank position to allegedly steal over half a million dollars,” said Fernandez Rundle.
According to investigators, it happened at the Bank of America located along Southwest 136th Street, where Martinez worked at in 2024.
Martinez allegedly convinced the client to entrust him with managing her money, using a joint account to transfer her money to himself.
“His scheme included opening a joint account in both their names in order for him to move money into his own account,” said Fernandez Rundle.
The woman, who suffers from a chronic disorder that leaves her unable to walk, told detectives she had no idea that Martinez had made the account.
“Our victim indicated that she was unaware of any of this activity and obviously she did not authorize the opening of the joint account,” said Fernandez Rundle.
Investigators say the branch opened an internal investigation after discovering what appeared to be fraudulent activity.
They say during that investigation, Martinez confessed and then quit his job at the bank.
A spokesperson for Bank of America provided a statement on the arrest to 7News:
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. Putting clients first and protecting client assets have been guiding principles since our founding more than 100 years ago.
Martinez reportedly also attempted to contact the victim several times in an apparent attempt to convince her to not report the crime to authorities, according to police.
“He tried several times to contact our victim via telephone and even contacted our victim’s aides to speak with her,” said Fernandez Rundle. “One of her aides in her house saw him deliver a gift basket at her home. This gift basket from Martinez was an effort to persuade her against reporting this theft to the police.”
With the former banker now in custody, Fernandez Rundle said this arrest is a reminder for the community to keep an eye out for vulnerable members who could fall prey to fraudulent schemes.
“We will not tolerate the victimization of our vulnerable residents and we will do whatever is necessary to protect them,” said Fernandez Rundle.
“Exploiting someone because of their disability or vulnerability is unacceptable,” said Miami-Dade Sheriff Rosie Cordero-Stutz. “We will aggressively pursue those who prey on others.”
Martinez remains behind bars and is expected to appear before a judge on Wednesday.
He faces multiple charges, including exploitation of a disabled person, organized fraud, and first-degree grand theft.
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