MIAMI — Dozens of people fell victim to an elaborate fraud ring, with some losing their life savings. Federal agents say the criminal network, called the “Honeybun Boyz,” made off with millions of dollars.
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A criminal complaint filed earlier in August reveals a $20 million criminal enterprise operating in South Florida.
The 29-page complaint says the FBI began investigating “money mule networks” last year.
Federal agents identified a group called the Honeybun Boyz.
The complaint describes the group as a major metropolitan criminal enterprise made up of financial fraudsters who flaunt $100,000 bankrolls tied to account takeovers that target vulnerable victims.
The term “honeybun” in certain circles means $100,000, a term also used by music artists like Pop Smoke.
The three-tiered network is made up of controllers, the bosses, handlers and mules who move the money.
Federal…
Insurance fraud involves making false or exaggerated claims to an insurance provider.
- Hard Fraud: Someone deliberately causes a loss (e.g., setting fire to a warehouse or staging a car accident) specifically to collect a payout.
- Soft Fraud: More common and often viewed as “victimless” by the perpetrator. It involves exaggerating a legitimate claim, such as overstating the value of stolen items in a home burglary to cover the deductible.