A Broward County lawyer allegedly involved in a $19 million fraud has been declared “armed and dangerous” in a wanted notice from the FBI.
The FBI says Michael Ralph Casey, 67, was involved in an investment scheme that “defrauded hundreds of investors worldwide out of approximately $19,000,000.” According to the FBI, Casey was the president and in-house attorney for the company Commodities Online, LLC.
Commodities Online, LLC sold participation interest in what it said was short term pre-sold commodities contracts promising return rates ranging from 3 percent to 33 percent.
According to the FBI, there were no company profits and those investors who requested cash payouts were paid with new investor money. The company was shut down in April 2011 after the U.S. Securities and Exchange Commission obtained a civil court order.
Casey was indicted by a federal grand jury and charged with conspiracy to commit mail/wire fraud and mail/wire fraud. He was initially arrested in September 2012 and released on bond. He was scheduled to appear in court on April 29, but didn’t show up and a new warrant was issued for his arrest.
If you have information about Casey’s whereabouts, call the FBI in Miami at 305-944-9101.
