Michael Ralph Casey, Broward Lawyer Wanted by FBI, Considered Armed and Dangerous
A Broward attorney who was charged with operating a multimillion-dollar fraud, is on the lam and is considered armed and dangerous, according to the FBI.
Michael Ralph Casey, 67, who practiced law in Fort Lauderdale, was indicted on federal mail and wire fraud conspiracy charges for his alleged involvement in a January 2010 to April 2011 investment scheme that defrauded hundreds of investors worldwide out of about $19 million.
Casey skipped out on his scheduled court hearing two weeks ago and hasn't been heard from since. Now, he's wanted by the FBI.
Casey was president and attorney for a company called Commodities Online LLC. It was through this company that Casey sold commodities contracts and promised buyers up to 33 percent on those short-term contracts.
Miami Dolphins vs. New York Jets
TicketsSun., Oct. 22, 1:00pm
Florida Panthers vs Anaheim Ducks
TicketsThu., Oct. 26, 7:30pm
Florida Panthers vs Detroit Red Wings
TicketsSat., Oct. 28, 7:00pm
Florida Panthers vs Tampa Bay Lightning
TicketsMon., Oct. 30, 7:30pm
Florida Panthers vs Columbus Blue Jackets
TicketsThu., Nov. 2, 7:30pm
Turns out, there were never any profits, and the investors Casey sold to who asked for cash payouts were paid with new investor money.
Them, in 2001, the U.S. Securities and Exchange Commission obtained a civil court order against Casey's company and shut it down.
Casey was indicted by a federal grand jury charging him with conspiracy to commit mail/wire fraud and mail/wire fraud and was then arrested in September 2012.
He was released on bond pending his trial in federal court in Miami.
But Casey failed to show for his pretrial hearing in federal court, which prompted a bench warrant for his arrest by the United States District Court, Southern District of Florida.
The trial, meanwhile, was postponed till August.
According to the South Florida Business Journal, Casey's codefendant in the case, James C. Howard III, pleaded guilty for his participation in the investment fraud scheme.
Howard, 55, is currently serving 189 months in federal prison.
The FBI says Casey "should be considered armed and dangerous."
It's asking anyone with information about him to contact a local FBI office or the nearest U.S. embassy or consulate.
Send your story tips to the author, Chris Joseph.
Get the Things to Do Newsletter
Find out about upcoming events and special offers happening in South Florida.