The leader of a major bust-out fraud ring has been revealed. And it’s a doozy.
Deinier Dominguez was at the center of every deal. As the finance manager at Bomnin Chevrolet and later HGreg Nissan in Miami, he would sit across from buyers, run their credit, and push loan apps to lenders.
But on February 25, 2026, at 6 AM, Miami Sheriff deputies arrested him in his home for helping run the famous “South Beach Bust-Out Syndicate”.
He now faces 79 criminal charges tied to $1,518,701 in fraudulent auto loans.
“He’s the top of the pyramid,” a prosecutor told a judge at Thursday’s bond hearing. “He was the finance manager at the dealerships who approved what looks like $1.5 million worth of these fraudulent loans.”
According to NBC, Investigators found Dominguez originated 25 automobile loans under false pretenses accounting for a total of $1,518,701.70, the reports said.
The vehicles included Corvettes, Tahoes, Jeeps, BMWs, Mercedes, a Cadillac, a Lexus, a Land Rover and others, the reports said.
Online, Dominguez appeared to have it all – nice cars, expensive watches. As a finance manager he was making great money and not afraid to show it based on his Instagram page.
He Used Brokers To Bring In Straw Borrowers
Dominguez ran the bust-out scheme right from his desk at Bomnin Chevrolet. Investigators say from February 2020 to March 2025, he ran bust-out frauds, and then he left and did the same thing at HGreg Nissan from March 2025 until January 2026.
He worked with auto brokers like Dagma Cecilia Reyes Jaime, who was also arrested. She would recruit straw buyers for the scheme and bring them into the dealerships.
Straw buyers would show up at the dealership, sign prefilled loan documents, and walk out with keys to the cars. By the time new loans appeared on their credit reports, the cars were already gone, shipped overseas, sold at other dealerships, or hidden behind washed titles in other states.
“Auto brokers act as recruiters, connecting the finance manager to individuals willing to lend their credit, identities, and selves in exchange for compensation by the auto broker,” a deputy wrote, according to an arrest report.
An 85-Year-Old Straw Buyer
One straw borrower stood out from the rest – Juan Campos. He was 85 years old.
Deputies say Campos purchased six cars at Bomnin Chevrolet in just six days, from December 22 to December 28, 2024, including two Corvettes and a Lexus GX.
Dominguez allegedly helped Campos use fraudulent application information to get nearly $435,800 in loan approvals from different lenders.
His son, Ariel Campos, 34, told investigators a broker had recruited him, and that he went with his father to the dealership.
He Signed $539,000 Pre-Filled Loan Documents In Eight Days
Another straw buyer, Carlos Mesa Reyes, 43, told investigators a broker told him to meet Dominguez at Bomnin Chevrolet. In just eight days, from January 8 to January 16, 2025, he had signed prefilled loan documents worth nearly $539,000.
The broker paid Mesa Reyes $15,200 to cover the first monthly payments, then cut him off. The cars disappeared quickly, with some shipped to ports for export and others turning up with washed titles in other states.
The Recruiter Promised To Rent Out The Cars
The scheme literally destroyed the straw borrowers. Juan Belledonne, a 60 year old mechanic, told investigators that Reyes Jaime had promised to rent out 11 cars on his behalf, pay him a monthly stipend, and cover the loan payments.
But none of that happened. He said he was left with unpaid vehicle loans, traffic citations from cars he no longer possessed, open toll violations, and fraudulent insurance claims filed in his name.
Part Of The Biggest Bust Out Group In The US
The bust of Dominguez is the last domino to fall for the biggest bust out fraud ring in the country.
Fraud Analysts at Point Predictive have named the group, “The South Beach Bust Out Syndicate.”
The company first flagged the Miami-based operation in early 2025 and has since linked close to 500 fraudulent applications worth more then $24 million to the ring.
A detective testified Thursday that investigators have recovered only “a handful” of the 25 vehicles that the finance manager helped orginate.
The case is still developing.
