Miami Man Bilked Investors Out of $40M in Cash-Advance Ponzi Scheme: Prosecutors

Federal authorities have charged Pablo Silverio Rebollido, 47, of Miami, with wire fraud, alleging he orchestrated a Ponzi scheme through his business, E-Card Lending. The scheme reportedly defrauded over 70 investors of more than $40 million between August 2019 and February 2024. Rebollido purportedly solicited funds by promising regular monthly returns, claiming the investments would finance Merchant Cash Advances (MCAs) for small and medium-sized businesses. However, prosecutors assert that E-Card Lending had no legitimate clients and that Rebollido used new investors’ funds to pay earlier investors and support his lavish lifestyle.

FBI Seeks Additional Victims

The FBI’s Miami Division is actively seeking to identify potential victims of E-Card Merchant LLC or E-Card Lending LLC. Individuals who believe they were defrauded or possess relevant information are encouraged to complete a questionnaire on the FBI’s Seeking Victims webpage. This initiative aims to gather comprehensive details to aid the ongoing investigation and ensure all affected parties are identified.​

Legal Proceedings and Potential Penalties

Rebollido’s initial court appearance is scheduled for April 11 at 2 p.m. in Miami. If convicted of wire fraud, he faces a maximum sentence of up to 20 years in prison. The case underscores the severe legal consequences associated with financial fraud and the commitment of law enforcement agencies to prosecute such offenses.​

Broader Context of Investment Fraud

This case is part of a broader pattern of investment fraud schemes that have targeted investors nationwide. For instance, in September 2021, three operators of a financial services firm were charged in an alleged $155 million investment fraud scheme. Similarly, in March 2024, the SEC charged 17 individuals in connection with a $300 million Ponzi scheme that targeted Latino communities by falsely claiming to invest in cryptocurrency assets. These cases highlight the importance of investor vigilance and the need for thorough due diligence before committing funds to investment opportunities.