A Florida man has been arrested and accused of siphoning tens of thousands of dollars from his aging parents’ retirement funds through unauthorized bank transactions.
Rafael Evelio Barcelo, a 67-year-old resident of Hialeah, allegedly managed his parents' finances before executing two large withdrawals from their Bank of America account. Investigators report that the first transaction involved a $34,000 check labeled as a gift directed to Barcelo’s business, Shophar LLC. The second transaction was a $52,000 cashier’s check that Barcelo cashed personally before transferring the funds to another bank.
The victims, who moved from Cuba decades ago and have resided in the same home since 1972, stated to investigators that they never authorized the transfers and were unaware of where the funds went.
The missing money was discovered during a family visit to the bank, which had been prompted by a dispute regarding the father’s care following a December 2024 fall and subsequent cognitive decline. According to authorities, the unauthorized withdrawals left the elderly couple without sufficient funds to cover basic expenses, such as property taxes, utilities, groceries, and other bills.
Barcelo now faces several serious charges, including exploitation of an elderly or disabled person involving more than $50,000, grand theft from a person over 65 involving more than $50,000, and an organized scheme to defraud involving $50,000 or more.
Following his arrest, Barcelo was held in custody at the Turner Guilford Knight Correctional Center on a $22,500 bond.
