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 charges are significant for the Wynwood BID, which represents over 400 property owners and plays a key role in neighborhood improvements funded by local assessments. The alleged theft raises concerns about oversight and trust within organizations managing public or collective funds.
According to an arrest warrant from the Miami-Dade State Attorney’s Office, Florentino Antonio Diaz, age 45, is accused of transferring funds from Wynwood BID bank accounts into his own personal accounts. Authorities say Diaz concealed these transactions by superimposing vendor names over his own in bank statements provided to the organization’s accountant. He faces 26 counts of third degree grand theft—one for each questionable wire transfer—as well as single counts of second degree grand theft, scheme to defraud, and forgery. Diaz’s bond was set at $46,000. Attempts to reach him for comment were unsuccessful.
The investigation began when the BID discovered a missing $46,336 interest payment during a transition between banks last year. The improvement district’s Vice Chair Daniel Whyte was alerted by an accountant that this payment had not been received after moving funds from TD Bank to Banesco USA. Investigators allege that Diaz forged Whyte’s signature on a letter instructing TD Bank to transfer the money directly into Diaz’s account.
Police analysis revealed an additional 26 questionable transfers totaling $146,216 between 2023 and June of last year. Investigators say Diaz covered up these transfers by submitting altered monthly statements listing legitimate vendors instead of himself as recipients.
Diaz served as interim executive director from September 2024 until resigning in May; he previously worked as project manager for the BID. The organization was recertified in 2023 for another decade and is expected to collect about $1.7 million annually.
