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Justice News

Department of Justice
U.S. Attorney’s Office
Southern District of New York

FOR IMMEDIATE RELEASE
Friday, December 20, 2019

Florida Man Sentenced To More Than 6 Years In Prison For Defrauding Investors Of Nearly $1 Million And Attempting To Flee Before Sentencing

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced that PEDRO ANDRES OSORIO was sentenced by U.S. District Judge William H. Pauley III to 76 months in prison for his role in a scheme to defraud investors of more than $1 million.  OSORIO pled guilty before Judge Pauley on September 4, 2019, to one count of wire fraud.

U.S. Attorney Geoffrey S. Berman said:  “Pedro Andres Osorio defrauded his friends and family of nearly $1 million by convincing them to invest in his sham liquor company.  Osorio’s scheme destroyed his victims’ financial and emotional wellbeing.  Rather than take responsibility for his actions and face his victims, Osorio was caught trying to flee the country before his sentencing.  Now Osorio will spend years in prison for his betrayals of his investors and the Court.”

FBI Assistant Director William F. Sweeney Jr. said:  “Not only did Osorio steal from people within his inner circle to keep up the façade of his fraudulent investment scheme, he attempted to leave the country after being released on bond in an attempt to escape the consequences of his actions.  Today Osorio has learned the hard way that two wrongs certainly don’t make things right.”

According to the allegations in the Complaint, the Indictment, and other documents filed in federal court, as well as statements made in public court proceedings:

From December 2015 to November 2017, OSORIO solicited investments in a purported liquor distribution company from approximately nine people whom he knew from his own family and social circles in Florida and New York.  OSORIO promised the investors high rates of return on importing Colombian liquor, and told them that his new company was working in partnership with a more established company.

In truth, OSORIO’s liquor company was a sham.  OSORIO did not import or distribute liquor, and did not have a business relationship with another liquor distribution company.  Instead, OSORIO used the investors’ money for himself, including for air travel, cruises, jewelry, electronics, and furniture.  OSORIO also redistributed some of the investors’ money to other investors as supposed profits in order to induce additional investments.  In total, OSORIO defrauded investors of approximately $1 million.

OSORIO had been released on bond during the pendency of the case, and was required to surrender his Colombian passport and remain in Florida (where he lived) and New York.  However, on October 29, 2019, OSORIO was arrested at Miami International Airport attempting to jump bail and flee the United States to Colombia.  OSORIO’s ticket was purchased the day before and he had obtained a new Colombian passport.  OSORIO has since remained in custody until his sentencing.

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In addition to the prison term, OSORIO, 36, of Doral, Florida, was sentenced to three years of supervised release and ordered to make restitution in the amount of $994,106.  Forfeiture will be in an amount to be determined. 

Mr. Berman thanked the FBI for their outstanding work.

This case is being handled by the Office’s General Crimes Unit.  Assistant United States Attorney Brett M. Kalikow is in charge of the prosecution.

Topic(s): 
Securities, Commodities, & Investment Fraud
Contact: 
Jim Margolin, Nicholas Biase (212) 637-2600
Press Release Number: 
19-442
Updated December 20, 2019