Miami party figure Daniel Liburdi indicted in $128 million bank fraud scheme

Daniel Liburdi and three others have been indicted in Florida for allegedly running a bank fraud scheme that netted over $128 million. They are accused of submitting false applications to obtain merchant processing accounts from U.S. financial institutions. The indictment claims the group used the fraudulent accounts to accept credit and debit card payments for an e-commerce business. They allegedly funneled the proceeds into various bank accounts and purchased luxury properties, including multimillion-dollar homes on Hibiscus Island. The group faces potential jail time and may have to forfeit their assets, including homes valued at over $40 million. Liburdi, known for his extravagant lifestyle, has not yet commented on the charges.