Images from Google Street View in 2024 reveal Unit 210 of Coral Point Plaza in Miami-Dade’s Fontainebleau area as showing no signs of activity or business identification. According to state records, this location is the registered address of a company that federal prosecutors have identified as a front for a $40 million Ponzi scheme. The company, E-Card Merchant, which is registered under the agent Pablo Silverio Rebollido, is situated at the 8410 W. Flagler St. strip mall.
Pablo Silverio Rebollido, aged 47, is facing a wire fraud charge that could result in a prison sentence of up to 20 years. The U.S. Department of Justice reports that Silverio Rebollido enticed investors by promoting E-Card Merchant, also known as E-Card Lending, as a business offering short-term financing to other businesses at high interest rates. These loans were supposedly secured in exchange for a percentage of future credit card sales or daily bank deposits from E-Card’s clients.
Authorities indicate that between 2019 and 2024, Silverio Rebollido solicited funds from investors under the pretense of using the money to finance loans for clients. In reality, prosecutors allege that no such clients existed, and the investment funds were used to repay earlier investors and support Silverio Rebollido’s lavish lifestyle.
More than 70 investors are thought to have been victims of the E-Card scheme, as stated in a news release from the Department of Justice. The FBI has launched a website dedicated to gathering information from potential victims, who may be entitled to restitution.
Silverio Rebollido is scheduled to make his initial court appearance on April 11 at a federal court in Miami.
The Evolving Landscape
- The financial security of investors in Miami-Dade County and beyond could be impacted, affecting their trust in investment opportunities.
- Local businesses might face increased scrutiny and regulatory hurdles to ensure compliance with financial laws.
- The case highlights the importance of due diligence when investing, potentially leading to more cautious investment behaviors among the public.
- The scheme’s exposure could lead to heightened community awareness and vigilance against similar fraudulent activities.
- Restitution efforts may provide some financial relief to victims, but also highlight broader issues of financial oversight and protection for investors.
