27-Year Old Woman Latest Arrest in Massive Miami “Credit Bust-Out” Fraud Ring
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Miami-Dade County, FL – September 8, 2025 – At some point it would seem that the FBI would get involved. This is obviously not all coincidental. What appears to be happening would probably constitute RICO charges against all involved. Last week’s latest arrest just adds to the growing list of arrest for auto loan fraud that are clearly rampant in the Miami-Dade area.
Our most recent alleged fraudster is 27-year-old Miami-Dade resident, Katherine Suarez. Suarez was arrested back on September 2nd following a reported months long investigation by the Miami-Dade Sheriff’s Office’s Auto Theft Crimes Task Force, authorities confirmed in an arrest report last Wednesday.
Investigators allege that Suarez netted her more than a half-million dollars in luxury vehicles, watercraft and SUVs through fraud in what is become known as “Credit Bust-Out” fraud.
County Investigators allege that between October and November of 2024, Suarez financed several high-value vehicles from multiple dealerships in the Miami-Dade County using falsified employment and income information before the purchases could appear on her credit report.
Among the dealerships targeted was Kendall Dodge Chrysler Jeep Ram, where Suarez is accused of obtaining a Jeep Gladiator Rubicon and a Dodge Durango SRT Hellcat, according to the arrest report.
Investigators also allege thatshe also secured luxury models, including a Mercedes E-Class sedan, a BMW X7 and a Mercedes-Benz GLE, as well as two Yamaha WaveRunners. Detectives allege that Suarez’s alleged fraud totaled more than $512,000 the report stated.
Upon her arrest, Detectives reported that Suarez was read her Miranda rights and agreed to speak with investigators. Though portions of her statement were redacted in the publicly-released report, her testimony may be important for getting to the root of this growing ring.
Suarez is reported to be facing two counts of first-degree grand theft of less than $100,000, four counts of second-degree grand theft between $20,000 and $100,000, two counts of third-degree grand theft, and eight counts each of obtaining a vehicle by trick and illegally obtaining property through credit with a false statement.
As of last Wednesday the 3rd, she was being held on a $29,000 bond at the Turner Guilford Knight Correctional Center.
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The Tip of the Miami Iceberg
Suarez is just the fifth person known to have been arrested in this complex fraud ring which is costing lenders tens of millions of dollars of fraud losses, both realized and to come. The true scope of this fraud ring is much likely to be found to be extensively larger as many losses have yet be discovered.
Apprehended before Suarez since May alone, were:
56-year-old Omar Guardia – 20 vehicles, including an Acura, two BMWs, a Honda, two Mercedes, five Toyotas, a Kia, a Ram truck, a motorcycle, and two Yamaha vessels.
Balances exceed $500,000.
32-year old – Ledys Legra García – Two Known Vehicles – 2024 Mercedes-Benz GT55 worth $154,000 and a 2024 Land Rover Defender valued at $58,782, by falsifying her employment and income details.
The total fraud surpasses $212,000
42-year-old Yumaikel Angulo – 2022 Chevrolet Corvette worth $71,990; a 2025 Lexus GX550 worth $73,423; a 2025 Toyota 4Runner worth $45,770; a 2024 Ford Ranger Raptor worth $55,720; a 2023 Cadillac Escalade worth $79,295; and a 2022 Yukon Denali worth $58,895, the report said.
The total approximate value of the cars was $385,093.
53-year old Pavel Gomez-Deben – 2021 Mercedes-Benz AMG G63 worth over $175,000 and had recently acquired a 2025 GMC Yukon XL for nearly $97,000, totaling over $270,000 in fraudulent transactions.
Who knows what information each of these persons has provided to investigators if anything of value. It seems highly unlikely that each of these persons was operating the same scheme in a vacuum.
Traditionally, organized straw buyer fraud rings are run by “handlers” who pay their “credit mules” a commission of anywhere from $500 to $2,000 for each transaction. Once the mule obtains the collateral, it is quickly handed over to their “handlers” who move it into the next phase of the operation, liquidation. The handlers then sublease them, strip them for parts, vin-swap and sell or transport the vehicles overseas for profit.
At some point, when the web’s complexity becomes more clear, the FBI will likely move in and action taken against the handlers once identified. That is if they are even in the country by that point.
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Closing in on $24 Million in Affected Loans and Applications
Hundreds of loans and applications have been tied to this fraud syndicate with a total value of close to $24 million. As further analysis is completed, we anticipate the value of affected loans to increase significantly.
The syndicate operates with a plan to follow the “path of least resistance” and employs the same general characteristics on their applications.
The scheme relies heavily on recruiting straw purchasers who apply for loans on behalf of the actual fraudsters. These individuals occupy a peculiar position as both willing participants and victims, often lured by empty promises of financial gain.
Affected applications exhibit the following loan patterns:
- High Value Vehicles – $65,000 to $100,000.
- High Reported Income for Applicants– The average stated income $284,000.
- Suspicious Employers – Self-employed borrowers using suspicious LLC business names that include their name. Employers are often trucking companies.
These criminals found vulnerable access points and exploited them repeatedly. One dealer group alone received 44 applications from this ring, demonstrating how fraudsters tend to target the same dealerships over and over.
Another common pattern unique to this ring is that they are often tied to employers in trucking or transportation. While those employers are generally authentic companies; their reported incomes appear dramatically inflated.
Source: Local10 Miami
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Straw Purchase Bust Out Fraud – Miami’s Multi-Million Dollar Auto Fraud
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