Property Manager failed to deposit rents for 6 months

[Pei Pei Siau-Cronin]

Hi all!  I am posting this to help a group of friends who invest in Florida.  They are foreign investors investing in Florida.  This property manager is a "guru" who conduct seminars about investing in US real estate in Malaysia, Singapore and Australia.  He sells real estates to students and manage the real estates for them.
He has not deposited the rents since Jun 2014 (for 6 months).  The investors made enquiry at Florida Department of Business & Professional Regulation, but was told that there's nothing the Department can do?!  One of the investor talked to an attorney and even lodge a police report, but no one seems to be able to help.

Does anyone of you have similar experience, or have any suggestion?

Thank you in advance.

[Wayne Brooks]

DPBR probably can't do anything because the guy has no license.  What city?  Your friends could immediately hire another PM.  Suing this guy may, or may not, make sense.  Once you're sure it's fraud, please post his name here.