CSWebio's Hernandez Caught!

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Posted by chicagomedia.org on June 22, 2009 at 15:41:57:

FBI: Fugitive financier arrested after suicide try
June 22, 2009 3:15 PM | Chicago Breaking News Center

Fugitive financier David Hernandez -- accused of running a Ponzi scheme -- is in custody after a failed suicide attempt in Normal, according to the FBI.

Few details were being released, but the police chief of neighboring Bloomington said Hernandez has been transported to a hospital.

Hernandez called his wife, Gina Hernandez, from a hospital in Normal about noon today, according to Tim Martin, an attorney for Gina Hernandez.

"He talked to her for a minute and said he was sorry for everything he put her through," Martin said.

Hernandez had bankrolled Chicago Sports Webio, an Internet radio station launched by Mike North.
Hernandez had been missing since last week when both the U.S. attorney's office and the Securities and Exchange Commission accused him of fraud.

The U.S. attorney's office in Chicago charged him with criminal mail fraud for allegedly engaging in a Ponzi scheme. The criminal charges are similar to civil allegations against Hernandez brought by the Securities and Exchange Commission.

The SEC accused Hernandez of diverting $11 million he raised from investors for a purported pay-day loan business for personal expenses and to fund other ventures, including Chicago Sports Webio. With money from Hernandez, site co-founder Mike North hired Chet Coppock and other radio personalities as hosts, and the station made its debut in April.

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