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MIAMI (CBSMiami) — A Miami-Dade duo has been arrested in connection to an alleged investment scheme in South Florida.

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Odalys Cordero-Romero and Richard Steiner are charged with organized fraud and grand theft.

Officials with the Florida Office of Financial Regulation (OFR) said the two allegedly duped $60,000 from at least one Florida investor.

“The fraudsters allegedly falsified information about their involvement in a lucrative gold-mining operation, which caused at least one Floridian to lose his hard-earned savings,” said OFR Commissioner Drew J. Breakspear.

The gold mining operation was said to be based in Colorado.

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OFR officials said an investigation revealed that in July 2010, the two solicited investments for the operation.

They allegedly convinced the victim to invest, promising a return of $1 million profit by September 2010.

The victim wired his fund to a bank account controlled by Steiner.Investigators said the duo ended up using the fund for personal expenses.

The case is being prosecuted by the Miami-Dade County State Attorney’s Office.

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