South Florida Investment Manager Arrested for Embezzlement

The Florida Department of Law Enforcement (FDLE) today arrested a South Florida man accused of embezzling $25 million of his client’s money while serving as an investment manager. Arnold Mullen, 62, of Palm Beach Gardens was charged with five counts grand theft. He surrendered himself to the Palm Beach County Jail.

The investigation began in October after Attorney General Bill McCollum’s Office of Statewide Prosecution received information alleging Mullen was engaged in fraudulent activity. Mullen has served for the past 20 years as the investment manager for a South Florida businessman.

Investigators allege Mullen orchestrated the conversion of millions of dollars of his client’s money into his own personal investment and use. Mullen allegedly conducted numerous financial transactions without the knowledge or approval of his client.

A complete financial audit concluded that Mullen embezzled at least $25 million of his client’s money for his own use and benefit.

Anyone with additional information is asked to contact FDLE Resident Agent in Charge Mike Driscoll at (561) 740-7010. Attorney General Office of Statewide Prosecution will prosecute this case.

For Further Information Contact:
Heather Smith, Kristen Chernosky or Mike Morrison
FDLE Office of Public Information
(850) 410-7001