Miami financial advisor who stole $6M from unwitting family gets sentenced to 6 years
A Miami bank employee stole nearly $6 million dollars from a family, deceiving them into handing over the funds — and then proceeded to spend it on his extramarital affairs, authorities said.
U.S. Senior District Judge Donald L. Graham on Wednesday sentenced German Nino, a 56-year-old UBS financial advisor, to 78 months in federal prison. He was found guilty on multiple counts of wire fraud, according to the U.S. Attorney’s Office for the Southern District of Florida.
Nino, who worked in UBS Financial Service’s Miami branch office, pleaded guilty in April to stealing money from a family that had multiple accounts with the bank.
He made 62 unauthorized transfers from accounts belonging to three related clients from 2014 to 2020, authorities said, adding that he used most of the money to subsidize his extramarital affairs.
The former financial advisor defrauded his clients of nearly $6 million by swindling clients, forging their signatures to authorize transfers and prepare financial documents — even going as far as to remove an email address from one of their UBS profiles so they wouldn’t be notified about the unauthorized transfers.
Along with more than six years in prison, Nino agreed to forfeit his interest in a home in Ave Marie, with restitution totaling over $7 million.
This story was originally published June 24, 2022 at 7:00 AM.
