The Coastal Star

Highland Beach: Murdered widow's financial adviser released on bond, on house arrest

By Rich Pollack

David Del Rio, the west coast Florida financial advisor charged with siphoning close to $3 million from the life savings of a murdered Highland Beach widow has been released on bail after being locked up since mid-September. 

Judge Glenn Kelley had originally set bond of $463,000 in November for Del Rio but a hold was put on his release, until defense attorneys could prove that money used to post bond wasn’t obtained through unauthorized withdrawals from the account of Elizabeth “Betty” Cabral.

The body of Cabral, whose throat had been cut, was discovered in her Highland Beach condominium in April. No charges have been filed in the homicide.

On Jan. 2, Kelley agreed to lift the hold on Del Rio’s release after prosecutors agreed that funds from nine friends and family members used to post bail did not come from Cabral’s accounts. Del Rio was released from jail Jan. 8.

“The defendant shall be permitted to post bond in the amount set on Nov. 9,” Kelley wrote in his order.

Under the terms of his release, Del Rio is on house arrest and cannot make contact with any members of Cabral’s family.

Among those putting up money for bond were Anjelica Ortiz, Jose Ortiz and Daniel Ortiz –  believed to be longtime friends of Del Rio’s – who posted a combined $18,000.

Also agreeing to help post bond was Del Rio’s sister Jennifer Alfaro, who contributed $9,600. Relatives of Del Rio’s wife Rose also provided funds.

All agreed to notify the court immediately if Del Rio, his wife or anyone on their behalf attempts to reimburse them.

Del Rio, of Lee County, has been charged with several counts of grand theft, exploitation of the elderly, money laundering and fraudulent use of personal identification information, stemming as far back as 2013, stemming from his time as a financial advisor to Betty Cabral and her husband William, who died in 2017.

Investigators have also said in court documents that they believe Del Rio fraudulently changed the will of Betty and William Cabral making himself the sole beneficiary of the estate.

Detectives are continuing to investigate Cabral’s murder and still have not allowed anyone to enter her unit in the Penthouse Highlands condominium, according to neighbors.

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