Florentino Antonio Diaz, a former interim executive director of the Wynwood Business Improvement District, was charged on Apr. 14 with stealing more than $192,000 from the Miami arts district organization.
The case is significant because the Wynwood BID represents over 400 property owners in Miami’s Wynwood Arts District and plays a key role in funding neighborhood improvements. The alleged theft raises concerns about oversight and financial controls within such organizations.
According to an arrest warrant from the Miami-Dade State Attorney’s Office, Diaz allegedly transferred funds from BID bank accounts to his personal accounts while concealing these actions by altering bank statements. The warrant states that he superimposed vendor names over his own on documents sent to the organization’s accountant. He faces 26 counts of third degree grand theft—one for each wire transfer—as well as one count each of second degree grand theft, scheme to defraud, and forgery. His bond was set at $46,000.
The investigation began last spring when $46,336 went missing during a transition of funds between banks overseen by Diaz. An accountant discovered the loss and found that Diaz had forged the vice chair’s signature on a letter instructing TD Bank to send money directly to his account. Further analysis revealed an additional 26 questionable transfers totaling $146,216 dating back to 2023.
Diaz served as interim executive director from September 2024 until resigning in May last year; he previously worked as project manager for the BID. The organization was recertified in 2023 for another decade and expected annual collections of $1.7 million.
