Press Releases

10/04/2024

Tallahassee, Fla. – Today, the Office of Financial Regulation (OFR) offered resources to Floridians who may need help finding information about their financial services provider(s), including state-chartered banks or credit unions, mortgage servicers, and other financial businesses and professionals.

06/13/2024

Tallahassee, Fla. - Today, with the signing of the Fiscal Year 2024-25 Focus on Florida’s Future Budget by Governor Ron DeSantis, the Office of Financial Regulation (OFR) highlights the resources that ensure Florida continues to be a leader in financial modernization and an attractive state for the financial services industry to do business. “Thank you, Governor DeSantis, for your efforts to keep Florida as a top destination for financial services businesses seeking opportunities to develop and...

11/27/2023

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that an immediate final order was issued to Gold Standard Bank (GSB) LTD, d/b/a GS Partners, and other members of GSB Group, requiring them to cease and desist from alleged unregistered and fraudulent securities and banking services in the state of Florida. This action is the result of a working group of securities regulators from the United States and Canada, who entered emergency enforcement orders to protect the public from...

06/09/2023

Tallahassee, Fla. – Today, the Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida Senate Bill 180 – Securities Regulation. OFR Commissioner Russell C. Weigel, III, said, “The Office of Financial Regulation will continue to encourage modernization in the financial services industry while ensuring Floridians are protected from scams and bad actors. I thank Governor Ron DeSantis for his...

05/25/2023

Tallahassee, Fla. – Today, the Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida House Bill 607 – Money Services Businesses. OFR Commissioner Russell C. Weigel, III, said, “The Office of Financial Regulation is committed to efficient and effective regulation of the financial services industry. I thank Governor Ron DeSantis for his leadership and support to continue to make Florida a...

02/27/2023

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today celebrates America Saves Week by highlighting financial wellness resources to help Floridians save money and build personal wealth. America Saves Week, recognized February 27-March 3, 2023, is an annual national campaign to encourage Americans to commit to saving successfully. CFO Jimmy Patronis said, “America Saves Week is an important time to encourage all Floridians to make saving a priority. Saving is a vital part of any...

12/23/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Anthony Michael Hernandez was arrested on charges of organized fraud, exploitation of an elderly person, selling securities as an unregistered person, and depositing funds in a bank with intent to defraud. Hernandez was booked into the Orange County Jail. His bond was set at $1.95 million. Attorney General Ashley Moody said, “This defendant placed misleading advertisements on television and social media,...

12/02/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that it issued warning letters, subpoenas and/or document requests to more than a dozen unlicensed check-cashing entities that advertised check-cashing services at their locations, including check cashing through the use of purported “self-service check-cashing machines.” A warning letter was also issued to an unlicensed, out-of-state entity for supplying, maintaining and sharing fees derived from the unlawful operation...

11/17/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Konstantinos Konstantinou was sentenced to four years in prison for his role in a fraudulent investment scheme against an elderly couple. Konstantinou was also ordered to serve 25 years’ probation and to pay $707,395 to his victims. The sentence follows a September 2022 guilty plea. OFR Commissioner Russell C. Weigel, III said, “Thank you to OFR’s investigative team...

11/15/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Robert Lee Humphrey, Jr., was sentenced to 10 years’ probation after being declared guilty of 20 separate felony charges related to a fraudulent investment scheme. Prior to sentencing, Humphrey was required to pay restitution in the amount of $412,500 to the nine victims that cooperated with the investigation. As a condition of his probation, Humphrey is banned from engaging in securities...

06/09/2022

Tallahassee, Fla. – Today, Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida Senate Bill 1680 – Financial Institutions. This bill revises outdated language and modernizes Florida’s banking laws. The bill also allows banks to propose an online presence instead of requiring a brick and mortar footprint. The bill has an effective date of July 1, 2022.

06/07/2022

Tallahassee, Fla. – Today, with the signing of the Fiscal Year 2022-2023 budget by Governor Ron DeSantis, the Office of Financial Regulation (OFR) highlighted the resources that ensure Florida continues to be a leader in financial modernization and an attractive place for the financial services industry to do business. OFR Commissioner Russell C. Weigel, III, said, “Thank you, Governor DeSantis, for your efforts to keep Florida on the forefront of innovation and financial technology.

06/01/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Owayne Anthony Bradbery was sentenced to five years in state prison to be followed by ten years of probation for his role in stock and real estate investment scams. He was also ordered to pay $136,000 in restitution to victims. OFR Commissioner Russell C. Weigel, III said, “Thank you to OFR’s investigative team, the West Palm Beach Police Department, and the State...

05/13/2022

Tallahassee, Fla. – Today, Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida House Bill 273 – Money Services Businesses. OFR Commissioner Russell C. Weigel, III, said, “The Office of Financial Regulation is committed to fostering innovation in the financial services industry while ensuring Floridians are protected from scams and bad actors. I thank Governor Ron DeSantis for supporting...

05/05/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Marko Dejanovic was arrested for his role in an alleged fraudulent investment scheme. Victim losses are estimated to be more than $377,000. CFO Jimmy Patronis said, “Our OFR and DIFS teams are committed to rooting out fraud and protecting Florida consumers. Fraud in all forms is wrong but it’s especially upsetting when it’s perpetrated by someone you thought you could...

03/25/2022

allahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Sammie Sue Doss was arrested for her role in an alleged fraudulent advance fee for loan scheme. She is charged with grand theft, fraudulent use of personal identifying information, and violating Florida’s loan broker laws. Victim losses are estimated to be more than $17,000. Florida Chief Financial Officer Jimmy Patronis said, “Fraud can ruin lives and it’s especially...

03/22/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today reminds Floridians to be aware of investment scams and top investor threats when making an investment decision. The top threats for 2022 were determined by a survey of securities regulators conducted by the North American Securities Administrators Association (NASAA). The annual survey is designed to identify the most problematic products, practices, or schemes facing investors. The following were cited most often by...

02/23/2022

Tallahassee, Fla. – The Office of Financial Regulation (OFR) today celebrated America Saves Week by highlighting financial wellness resources to help Floridians secure their financial future. America Saves Week, recognized February 21-25, 2022, is an annual national campaign to encourage Americans to learn and practice good financial management habits. OFR Commissioner Russell C. Weigel, III said, “Building a secure financial future is important for every Floridian. The...

01/24/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR), along with financial regulatory agencies from 41 other states, today announced that settlement agreements were reached with more than 400 mortgage loan originators nationwide who falsely claimed to have completed their state and federal required annual continuing education. Instead, these mortgage loan originators paid an education provider to issue them false education certificates when the “students” had not attended any training...

01/07/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that 14 immediate final orders were issued against certain purported entities for marketing banking services to the public without holding an approved Florida bank charter. These actions were taken to protect Florida consumers from potential financial harm related to unauthorized banking activities that the entities claimed they performed. The orders require Ledge Community Credit Union, Fedro Bank, US Collector Bank, REIT...