Florentino Antonio Diaz, a former interim executive director of the Wynwood Business Improvement District (BID), was charged on April 14 with stealing more than $192,000 from the Miami arts district organization.
The charges are significant for property owners in the Wynwood area, as the BID is responsible for managing funds collected from them to improve and maintain the neighborhood. The alleged theft raises concerns about oversight and financial management within local improvement districts.
According to an arrest warrant from the Miami-Dade State Attorney’s Office, Diaz allegedly transferred funds from BID bank accounts into his own personal accounts. He reportedly concealed these transfers by altering bank statements—superimposing vendor names over his own before sending them to the BID’s accountant. Diaz 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 BID funds between banks. Diaz was put in charge of moving money from TD Bank to Banesco USA. According to investigators, he forged Vice Chair Daniel Whyte’s signature on a letter instructing TD Bank to send an interest payment directly into his account. Further analysis revealed another 26 questionable transfers totaling $146,216 between 2023 and June last year.
The Wynwood BID represents more than 400 property owners across approximately 50 blocks in Miami’s Wynwood Arts District and has played a role in neighborhood redevelopment since its formation in 2013. The agency collects assessments for improvements such as streetscapes and safety measures. In 2023 it was recertified for ten years and expected annual collections were projected at $1.7 million with certification from 228 affidavits.
Diaz served as interim executive director from September 2024 until his resignation last May; he previously worked as project manager for the organization.
