OFR News

01/28/2021

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced the arrests of Nelson Armondo Garcia and David Aubel (aka David Kost) on charges related to their alleged involvement in a $2.4 million fraudulent investment scheme that victimized at least 12 Florida investors. Garcia, who was arrested on Dec. 17, 2020, was extradited from North Carolina to Broward County to face charges of engaging in a securities fraud conspiracy and unlicensed telemarketing. Aubel, who was...

01/27/2021

Tallahassee, Fla. – The Office of Financial Regulation (OFR) today announced that applications for the financial technology sandbox innovator license are now being accepted. Regulatory sandboxes create a mechanism to allow financial technology companies to bring innovative, consumer friendly products, like new payment services, to market more quickly while still ensuring adequate customer protections are in place. CFO Jimmy Patronis said, “I am thrilled that applications are now being...

01/22/2021

February 2, 2021 Financial Services Commission Meeting - Public Meeting of the Governor and Cabinet Meeting Materials: OFR Agenda

12/30/2020

As Florida and the nation continue to grapple with the effects of the COVID-19 pandemic, you may be worried about what will happen to your credit reports and scores if your ability to pay your loan obligations has been impacted. The Office of Financial Regulation (OFR) encourages Floridians to use the information and resources below to manage and protect their credit. Attorney General Ashley Moody, said, “Regularly monitoring your credit report is one of the best ways...

12/30/2020

The license renewal process is open for those licensed with the Florida Office of Financial Regulation (OFR) under Chapters 494, 516, 517, 520, 559, Florida Statutes, and a portion of those licensed under Chapter 560, Florida Statutes. OFR reminds businesses and individuals to complete the renewal process to maintain their active license status. Businesses and individuals holding the below license types can renew through the OFR Online Services Portal by logging in as a returning user on...

12/23/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced its calendar year-end accomplishments for 2020, highlighting its support of Florida's financial services consumers and the financial services industry. OFR Commissioner Russell C. Weigel, III, said, "I thank Governor Ron DeSantis for his leadership and continued support of OFR's mission. We are proud to come to work every day to foster innovation and keep Florida's...

12/04/2020

December 15, 2020 Financial Services Commission Meeting - Public Meeting of the Governor and Cabinet Meeting Materials: OFR Agenda

11/18/2020

Today, OFR Commissioner Russell C. Weigel, III, offered the following statement regarding International Fraud Awareness Week. “As we recognize International Fraud Awareness Week, we are reminded that fraud takes many shapes and forms, including consumer fraud, tax fraud, identity theft and many others. I encourage every Floridian to explore the resources available to educate and protect yourself and your loved ones from the devastating impacts of fraud. The OFR team is committed to...

11/09/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced the Oct. 22 arrest of David Bruce Cohen of Boca Raton on charges of grand theft, organized fraud and money laundering for his alleged involvement in an investment fraud scheme that resulted in approximately $1.5 million in victim losses. CFO Jimmy Patronis said, “Fraud in Florida has reached epidemic proportions and we must do all we can to protect our consumers from...

11/08/2020

The Florida Office of Financial Regulation has issued proclamations to Florida state-chartered financial institutions and securities professionals regarding Tropical Storm Eta. Please check out the links below for more information: OFR Division of Financial Institutions Proclamation OFR Division of Securities Proclamation

11/06/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced the arrests of Leandro Obenauer and Myriam Torres on charges of engaging in organized fraud, a first degree felony. The arrests follow a warrant issued in 2016 in Orange County based on findings of an OFR investigation. Obenauer and Torres remained fugitives until their arrest on October 1, 2020. From October 2012 through February 2014, Obenauer and Torres...

11/06/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced the Oct. 20 arrest of Lucille Poag, 83, of North Miami. Poag voluntarily surrendered to law enforcement in Miami-Dade County after being charged with felony grand theft, organized scheme to defraud, and violations of Florida’s loan broker laws. The charges stem from Poag’s alleged involvement in an elaborate advance fee for loan scheme, which resulted in victim losses of approximately...

10/15/2020

Attorney General Ashley Moody is securing more than $11 million in relief for Floridians harmed as a result of Ocwen’s alleged improper mortgage servicing practices. The proposed final consent judgment, pending adoption by the U.S. District Court for the Southern District of Florida, resolves the lawsuit brought by the state of Florida through the Attorney General’s Office and the Office of Financial Regulation against Ocwen Financial Corporation, Ocwen Mortgage Servicing, Inc., Ocwen Loan...

09/29/2020

Attorney General Ashley Moody today announced Operation Corrupt Collector, a federal-state law enforcement sweep against phantom and abusive debt collection. In a joint effort with the Federal Trade Commission, and more than 50 federal and state law enforcement partners, the initiative involves enforcement actions brought by the FTC, three federal partners and 16 different state agencies against debt collectors engaged in these illegal practices. The sweep includes five cases filed by the FTC, two cases...

09/28/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced that Howard Markowitz was sentenced to three years in prison, to be followed by three years of supervised release, for his role in an investment scam. He was also ordered to pay $1,784,000 in restitution. Markowitz is the last of five defendants to be sentenced, following his guilty plea earlier this year. CFO Jimmy Patronis said, “As Florida’s CFO, I am committed to ensuring all...

09/25/2020

Attorney General Ashley Moody today announced a consolidated nationwide enforcement action alongside the Florida Office of Financial Regulation to disrupt a fraudulent precious metals scheme that has scammed seniors and vulnerable investors nationwide out of more than $180 million. Attorney General Moody, OFR, the U.S. Commodity Futures Trading Commission and 28 other states announced that a complaint has been filed in the U.S. District Court for the Northern District of Texas alleging that Metals.com...

09/15/2020

The Florida Office of Financial Regulation has issued proclamations to Florida state-chartered financial institutions and securities professionals regarding Hurricane Sally. Please check out the links below for more information: OFR Division of Financial Institutions Proclamation OFR Division of Securities Proclamation

09/14/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today announced that Anthony Robert Greene was arrested and charged with engaging in a scheme to defraud for his alleged role in a cryptocurrency investment scam. CFO Jimmy Patronis said, “Every day, scam artists are coming up with new and creative ways to defraud consumers out of their hard-earned money. This alleged cryptocurrency scheme is no different and we must work together to inform and educate Floridians on the latest scam...

09/11/2020

September 22, 2020 Financial Services Commission Meeting - Public Meeting of the Governor and Cabinet Meeting Materials: OFR Agenda

07/13/2020

Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) today announced that Walter Ozell Weatherington was arrested and charged with grand theft and organized fraud for his alleged role in orchestrating an advance fee for loan scam. The case is being prosecuted by Florida Attorney General Ashley Moody’s Office of Statewide Prosecution. Attorney General Ashley Moody said, “My Statewide Prosecutors work diligently to fight fraud and stop scams...