Reply #1: My God, they look like pigs. Pigs, however, are more honorable. [View All]

[Judi Lynn]

S. Fla. businessmen brothers De Cespedes charged with fraud
By Vanessa Blum | South Florida Sun-Sentinel
9:34 PM EDT, July 22, 2008

Two brothers who built a South Florida medical supply firm into one of the country's largest Hispanic-owned businesses cheated a Miami-Dade County hospital out of roughly $5 million and failed to pay taxes on more than $20 million of income, federal prosecutors claim.

The U.S. Attorney's Office announced the fraud and tax evasion charges Tuesday against Carlos de Cespedes, 58, and Jorge de Cespedes, 55, co-owners of Pharmed Group Corp.

The brothers, prominent members of South Florida's Cuban-American and business communities, appeared before a federal magistrate in Miami and were released on $250,000 bond.

If convicted, both men could be sentenced to more than five years in prison and required to pay more than $15 million in back taxes, interest and fines.

"These individuals had it all — success, money, and the admiration of their community," U.S. Attorney Alex Acosta said. "But they have tarnished their good names and reputations because they wanted even more than they already had, and they wanted it the quick and easy way."

Jorge de Cespedes and his wife, Yvonne, own a home in Southwest Ranches valued at $1.7 million and a $450,000 Hollywood oceanfront condominium. Carlos de Cespedes and his wife, Martha, live in a waterfront home in Coconut Grove valued at $2.4 million. Neither man's spouse has been charged with any wrongdoing.

More:
http://www.sun-sentinel.com/business/sfl-flbfraud0723sbjul23,0,6222630.story