AVENTURA, Fla. — Two brothers from Aventura are accused of running a fraudulent investment scheme that swindled at least four victims out of nearly $1 million, using the money to fund an extravagant South Florida lifestyle, police said.
According to the Aventura Police Department, Hugo Leonel Amaya, 44, and Enmanuel Armando Amaya, 48, were arrested Thursday on three felony charges. The brothers, born in New York, lived together in a luxury high-rise on Williams Island.
Police said the first victim was a worker employed on the property who reported the fraud after the brothers approached him on Oct. 19, 2023, offering an opportunity to “make extra money” by investing in real estate they claimed to be buying and selling.
Investigators said the brothers promised the man a 10% return and showed him photos of properties in Florida, Ohio, and Mexico. He agreed to invest $30,000, wiring the money a week later with the assurance of repayment within 45 days.
Months passed without any return. In March 2024, Hugo Amaya apologized for the delay and gave the man $3,500, claiming the funds were now invested in a property in Mexico. By June 2024, the victim demanded his money back, but the excuses continued until communication stopped completely on Jan. 31.
The worker later connected police to another victim who invested $200,000 and faced similar delays. Detectives reviewing bank records from the brothers’ company, HLA Investments, uncovered two more victims.
One investor said Enmanuel Amaya claimed he was hospitalized when asked about a Stuart property investment, while another discovered that a Cleveland property he supposedly invested in had never been sold.
Police determined that none of the $920,000 collected was actually invested. Instead, the funds were allegedly used to pay off American Express credit cards, purchase airline tickets, rent luxury vehicles, buy designer clothes, and dine at upscale restaurants.
The brothers were arrested at their 2800 Island Blvd. residence and charged with grand theft, organized scheme to defraud, and securities fraud.
They remain in custody at the Turner Guilford Knight Correctional Center on $35,000 bonds each. A judge ruled that if released, they must prove any bail funds come from legitimate sources.
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