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A Hollywood man who posed as a stock investor to allegedly con people out of over $250,000 has been arrested, and police said there could be more victims.
Claudio Maria Cassina, 53, was arrested Monday on charges of organized fraud and fraud investment, Hollywood Police officials said Wednesday.
The investigation into Cassina dates back to 2021. Police said he conned as many as six victims into investing over $250,000 by posing as a stock investor.
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Cassina convinced his victims by identifying himself as an investor with "CMC Option Trade LLC," police said.
Victims were shown screen shots of supposed investment accounts and were given checks totaling nearly $30,000 as payment from their investment, but the checks would later return insufficient funds, police said.
Detective learned Cassina doesn't have a stock trading license and instead of investing the victims' money, he used the funds for personal use including cash withdrawals and wire transfers to himself and his family.
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Cassina was arrested and booked into jail where his bond was set at $50,000, records showed.
Police believe there could be more victims who may have been defrauded by Cassina, and they're asking anyone with information to call them at 954-764-4357.
