A man from Ponce, identified as Melvin E. Rivera-Oliveras, has been subpoenaed concerning schemes linked to bank fraud and money laundering. The business he operated, Rossy Sport Bar Panorámico, LLC, faces similar charges related to these activities.
Court documents reveal that Rivera-Oliveras, aged 40, implemented fraudulent actions against numerous federally insured financial bodies in Puerto Rico during the years 2020 and 2022. This involved executing deceitful refund processes exceeding $7 million through multiple debit cards within companies under his management.
Rivera-Oliveras acquired point of sale systems to facilitate illicit refund transactions, enabling him to temporarily tap into the financial resources which were not his and illegally acquire a share of these funds.
In July 2022, Rivera-Oliveras made attempts to gain over $270,000 through faux refund transactions involving a debit card linked to Rossy Sport Bar Panorámico. The improperly gained funds were then channeled into an account belonging to Rossy Sport Bar Panorámico.
Using these ill-gotten gains, a variety of vehicles were purchased, including a Cadillac CTS, a Ford Transit Connect XL, and a Mercedes Benz C Class. Additionally, he proceeded with several bank transactions that surpassed amounts of $10,000.
“The defendant created and executed a complex scheme to defraud banks and businesses,” stated United States Attorney for the District of Puerto Rico, W. Stephen Muldrow. Appreciation was expressed for the efforts of the FBI agents and law enforcement that dismantled this network of illegal financial dealings.
“These crimes strike at the heart of public trust and financial stability,” said Devin J. Kowalski, Acting Special Agent in Charge of the FBI’s San Juan Field Office. He emphasized the commitment of the FBI to pursue those who engage in fraudulent activities.
If convicted, Rivera-Oliveras might confront a sentence of up to 30 years in prison for bank and wire fraud charges and potentially a further ten years for money laundering. Sentencing will be determined by a federal district court judge considering the U.S. Sentencing Guidelines among other legal aspects.
The Federal Bureau of Investigation is leading the inquiry into the case, while Assistant U.S. Attorney Marie Christine Amy from the Financial Fraud & Public Corruption Section is leading the prosecution.
It remains important to note that a criminal complaint constitutes merely an allegation. Consequently, all defendants are considered innocent until proven guilty beyond a reasonable doubt in a court proceeding.