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A Cuban convicted of organized fraud through a Ponzi scheme in Miami-Dade has been charged with defrauding another victim and was arrested again this Wednesday, just five months after being released from prison and while on probation, authorities reported.
Damian Castilla, 52 years old and resident of Pembroke Pines, was arrested in Miami Lakes by detectives from the Miami-Dade Sheriff's Office M-DSO and faces charges of second-degree grand theft and organized fraud, according to county court records.
Castilla had already been sentenced in 2023 for organized fraud and was released from prison on November 18, 2025, with parole until the year 2045, reported news outlets.
According to the report from the investigators of the Organized Crime Office of the M-DSO, the Cuban was first arrested on March 18, 2020, for operating a Ponzi scheme, with which he defrauded a victim of over 300,000 dollars.
"The suspect falsely posed as a commodities broker and accepted funds from the victim for investment purposes," but "instead of investing the money, he diverted the funds for his personal use," the police document specifies.
The day after his arrest, on March 19, 2020, he was released on bail.
However, while awaiting the trial, Castilla employed the same modus operandi again: he deceived another victim with "false statements about nonexistent investments."
On June 7, 2021, he cashed a check for an amount of $20,000 issued from the account of that second victim. The bank records obtained through a subpoena confirm that the check was deposited into Castilla's Wells Fargo account.
The Cuban was sentenced in 2023 and served part of his sentence before being released in November 2025, remaining under supervision until 2045.
The arrest on Wednesday took place at the Northwest District station of the M-DSO in Miami Lakes, with his defense attorney present. At the lawyer's advice, Castilla invoked his rights and refused to make a statement, after which he was transferred to the Turner Guilford Knight Correctional Center.
During a court appearance this Thursday, Castilla's legal representative questioned why the case was not filed five years ago, given that the events date back to 2021, and stated: "He has already served his sentence, he is on probation, so we hope to resolve this case."
The judge set the bail at $5,000 and the case was assigned to Circuit Court Judge Andrea Wolfson in Miami-Dade, reported Telemundo 51.
Under Florida law, reoffending while on probation can lead to the revocation of that probation, which would mean that Castilla could return to prison to serve the remainder of his original sentence, in addition to facing the new charge that could result in up to 15 additional years for second-degree felonies.
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