The leading challenger in the Miami mayoral race is attacking incumbent Tomás Regalado over charges of civil securities fraud filed against the city.
Commissioner Francis Suarez's political group mailed a flier this week highlighting the charges filed last month against the city and its former budget chief by the U.S. Securities and Exchange Commission. The SEC is seeking financial penalties against the city and ex-budget director Michael Boudreaux for allegedly misrepresenting Miami's finances to bond investors.
The flier, mailed by The Future is Now, Suarez's electioneering communications organization, features a photograph of Regalado next to boldface text that says, "SEC charges city of Miami with fraud."
"Another federal investigation!" the flier continues on the back side. "In the last month, the Regalado administration has been embroiled in 2 federal investigations: one from the Department of Justice and another from the U.S. Securities and Exchange Commission for fraudulent bond transactions during Regalado's tenure as commissioner."