E Card?

According to a joint announcement made on April 2, 2025 by the U.S. Attorney for the Southern District of Florida and the FBI, Miami Field Office, Pablo Silverio Rebollido faces federal charges for allegedly orchestrating a Ponzi scheme through his merchant cash advance companies, E Card Merchant, LLC and E Card Lending, LLC.

Rebollido stands accused of devising an unlawful scheme to raise approximately $50 million from over 70 investors by soliciting funds through “materially false and fraudulent statements and concealment and omission of material facts to investors, among others,” between August 2019 and February 2024. According to the announcement, the alleged scheme resulted in “more than $40 million dollars in losses.”

In an information filed with the court on March 26, 2025, the government alleges that E Card, based in Miami, was presented to investors as a successful cash advance business offering high-interest loans to individuals and businesses unable to secure conventional financing. Rebollido allegedly promised investors regular monthly returns derived from the profits of these loans. However, according to the information, E Card did not make loans or generate profits as represented. Instead, prosecutors allege that Rebollido operated a Ponzi scheme, using funds from new investors to pay returns to earlier investors, while misappropriating millions of dollars for personal expenses, including real property, a yacht, and other luxury items.

The charging document specifies several allegedly false statements made by Rebollido, including claims that investor funds would be used for high-interest loans, that E-Card had over seventy merchant clients, and that the company profited from consumer credit card transactions at these merchants’ businesses. It further alleges that Rebollido concealed critical facts, such as the absence of loans, lack of profits, and his use of investor money for personal gain.

The government seeks forfeiture of assets tied to the alleged offense, including a money judgment of approximately $35.8 million, two properties in Marathon, Florida, a 2011 24-foot Cruiser Yacht, and funds seized from multiple bank and brokerage accounts in Rebollido’s name.

Paul Rebollido faces a maximum penalty of 20 years imprisonment, and a fine of up to $250,000 or twice the gross gain or loss from the alleged offense, according to the penalty sheet filed with the information.

Prior to the formal charges, Rebollido was notified on July 30, 2024, via a letter from Assistant United States Attorney Robert F. Moore, that he was a target of a grand jury investigation in the Southern District of Florida. The investigation, documented under case number 24-MJ-3533, explored possible violations of federal laws, including conspiracy to commit wire fraud and money laundering.