Michael Ralph Casey is wanted for his alleged involvement in a January 2010, to April 2011, investment scheme that defrauded hundreds of investors worldwide out of approximately $19,000,000. Casey was the president and in-house attorney for a Fort Lauderdale, Florida, based company, Commodities Online, LLC, which sold participation interests in purported short term pre-sold commodities contracts promising returns that ranged from 3% to 33%. However, there were no profits and those investors who requested cash payouts were paid with new investor money. In April 2011, the company was shut down by a civil court order obtained by the U.S. Securities and Exchange Commission.
Casey was indicted by a federal grand jury charging him with conspiracy to commit mail/wire fraud and mail/wire fraud, and in September 2012, he was arrested and released on bond pending his trial in Miami, Florida. On April 29, 2014, Casey failed to appear for a court hearing and a bench warrant was issued for his arrest by the United States District Court, Southern District of Florida. On August 28, 2014, Casey was indicted by a federal grand jury charging him with failure to appear before the court, and an arrest warrant was issued.