Pines man tied to Ponzi-style scheme arrested again after prior conviction, cops say
A Pembroke Pines man convicted of fraud in 2023 was arrested again on similar charges, just months after his release from prison and while still on probation, according to Miami-Dade court records.
Miami-Dade Sheriff’s Office detectives arrested Damian Castilla, 52, on Wednesday, April 29, after meeting the Cuban national at the agency’s Northwest District station in Miami Lakes, according to his arrest report.
Sentenced on an organized fraud charge in March 2023 Castilla was released on Nov. 18, 2025, and placed on probation until 2045.
Investigators say they first arrested Castilla in March 2020 “for operating a fraudulent Ponzi-style scheme” where he posed as a commodities broker and diverted funds he received into his personal banking accounts instead of promised investments, MDSO says.
The 2020 scheme saw him scam one victim out of more than $300,000, the report says.
Castilla was released on bond the following day, but allegedly continued his ploy while awaiting trial, conning another victim out of $20,000 “using similar false representations of nonexistent investments” in June 2021, officials say.
Detectives say he deposited the money into a Wells Fargo account under his name.
Castilla was booked into the Turner Guilford Knight Correctional Center on April 29 and faces two felony charges, second-degree grand theft and organized fraud.
Though jail records show he’s no longer at TGKCC, the Pembroke Pines man could face more time behind bars. Per Florida law, those who reoffend while on probation could have their probation revoked and face the statutory maximum of their original sentence.
