by Pembroke Pines, FL — Federal authorities have arrested four men who allegedly attempted to cash a stolen U.S. Treasury check worth more than $27 million, a scheme investigators say unraveled when the suspects unknowingly tried to work with an undercover agent.
The incident, which culminated during a meeting at a restaurant in Pembroke Pines on November 10, has resulted in all four men facing serious federal charges.
Suspects Accused of Trying to Cash a $27.9 Million Check
According to the U.S. Department of Justice, the individuals charged are Carlos Manuel Villaneuva, 37, of Hialeah; Eric Renard Bedford, 44, of Houston; Jorge Cruz Garcia, 30, of Katy, Texas; and John Ryan Boxie, 43, also of Houston. Each man has been charged with one count of conspiracy to defraud the United States and one count of theft of government property.
The U.S. Treasury check at the center of the investigation was a tax refund payment totaling $27,910,676.69, issued to a business located in Richmond, Virginia. It remains unclear whether the business ever reported the check missing or requested a replacement.
Authorities became aware of the scheme after receiving information that Villaneuva allegedly had possession of the check and was seeking someone capable of cashing it. He believed he had found such a person in an individual known only as “Banker.”
Undercover Operation Exposes the Scheme
According to a criminal complaint, Villaneuva contacted “Banker” under the impression that the individual could assist in cashing the massive refund check before it expired on November 12. What Villaneuva did not know, however, was that “Banker” was actually an undercover agent with the U.S. Treasury Inspector General for Tax Administration (TIGTA).
He reportedly shared photos and video of the check, insisting that accomplices in Florida were physically holding it for him. Villaneuva allegedly claimed that if he successfully cashed the check, he would personally receive a $5.6 million cut.
He further suggested the group had access to additional high-value checks, implying they could continue cashing fraudulent payments if the first attempt was successful.
Federal agents then arranged a controlled meeting.
Restaurant Meeting Leads to Arrests
The meeting took place on November 10 in Pembroke Pines, inside a restaurant where Villaneuva and the others allegedly planned to hand over the check. The moment an envelope containing the check was passed to the undercover agent, authorities made their move.
“Agents from U.S. Postal Inspections, who were lying in wait, emerged to arrest the men involved in the alleged scheme,” according to the complaint.
Officials stated that the coordinated arrest was carried out without incident. The four suspects were taken into custody and later transported to federal court.
Court Appearance and Bond Conditions
On November 12, all four men made their first court appearance in Fort Lauderdale, Florida. During the hearing, the judge set the following bond amounts:
- Jorge Cruz Garcia – $100,000
- Eric Renard Bedford – $100,000
- John Ryan Boxie – $100,000
- Carlos Manuel Villaneuva – $50,000
Read Also: Arizona Father Dies by Suicide Following Investigation Into Daughter’s Hot-Car Death
Each bond is subject to a Nebbia hold, meaning the defendants must prove that any money used for bail originates from legal, non-criminal sources.
Federal prosecutors did not comment on whether the intended recipient of the $27.9 million refund has since been notified or compensated.
A Case That Raises Bigger Questions
The size of the stolen check — nearly $28 million — raises broader concerns about how such a high-value Treasury instrument could be intercepted and whether similar attempts have gone undetected. Federal investigators noted that the suspects’ claims of having access to additional checks for “large sums” could indicate a wider pattern of fraud.
While this case continues to move through the court system, it serves as another example of large-scale financial schemes targeting federal institutions and relying on elaborate networks of conspirators.
For more breakdowns of developing financial crime stories and law-and-order updates, visit mikeandjonpodcast.com.
