Stephan Kofi Bio {BSO}
A Coconut Creek man accused of receiving $20,000 from a Texas couple in a Chase Bank scam may be linked to additional victims, according to investigators probing the alleged fraud scheme.
According to a Coconut Creek Police Department arrest affidavit, Stephan Kofi Bio, 31, was taken into custody on June 3 and charged with an organized scheme to defraud a person 65 or older.
Records show the investigation began after the Dallas Police Department forwarded a fraud case to Coconut Creek detectives involving a 78-year-old woman and her 78-year-old husband. Investigators said the couple received a phone call from someone claiming to be a bank employee who warned them about alleged internal fraud at their financial institution.
According to the affidavit, the caller instructed the victims to travel to a Chase Bank branch in Dallas and conduct what was described as a “roofing” transaction to determine whether bank tellers were involved in fraudulent activity. Believing they were helping protect their money, the couple withdrew $20,000 from their USAA account and deposited it into a Chase account while remaining on the phone with the caller.
The victims later realized they had been scammed and reported the incident to authorities.
Detectives said subpoenaed bank records identified the recipient account as belonging to SB94 LLC and listed Bio as the account holder. Investigators further said that not only was the $20,000 deposit discovered and confirmed, but it was also followed by multiple Zelle transactions to various individuals, suggesting a string of similar crimes.
Court records state that detectives contacted Bio in April 2025 and that, during the encounter, he admitted the bank account belonged to him. Investigators said Bio claimed the money was connected to his music business, but no evidence to support that claim was provided.
Bio was arrested and booked into the Broward County Main Jail. An investigation into whether there were additional victims is currently underway.
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