Results tagged “davidhernandez”

The hammer of justice has come down on Webio co-founder David Hernandez, 48, of Downers Grove. Hernandez stands charged of four counts of mail fraud for running a Ponzi scheme that bilked people out of around $12 million. According to the Sun-Times, the feds are also trying, "to seize $3.5 million and two luxury automobiles from Hernandez, including a 2009 Audi and a 2007 Mercedes Benz ML350."

She married ChicagoSportsWebio founder David Hernandez in 2001, but she is just now finding out who he really was. Last week, the SEC accused Hernandez of running an $11 million ponzi scheme that funded the ChicagoSportsWebio venture, and he promptly left town. Gina Hernandez reported her husband missing on June 16, and police found him at a hotel downstate on June 22.

There's not a whole heckuva lot of information, but the Trib is reporting that David Hernandez, former ChicagoSportsWebio co-founder and alleged Ponzi scheme runner, is in custody after a failed suicide attempt. We'll have more as the story develops.

It's been a strange couple of days for ChicagoSportsWebio and it all culminated with the site shutting down yesterday, according to the Trib's Phil Rosenthal. While the site still looks like it's fully operational, indeed, there is no audio. The drama started when Mike North's complaints about bounced checks got him fired from the site by co-founder David Hernandez. Hernandez was then alleged to have been running a Ponzi scheme and subsequently disappeared, his wife yesterday filing a missing person's report.