Chicago FBI agents say 39 year old Eduardo Velazaquez made some investors an online offer they couldnt refuse by telling them his product was risk free.
Federal prosecutors charged Velazquez in 2008 with mail and wire fraud based on promises he made consumers if they invested in a hedge fund offered by his internet-based investment company, V-Tek Capital. The FBI's John Diwik says, "What he was promising is that he would take the investors money and that he would spend 20 percent of it on a hedge fund and the other 80 percent would be used to purchase zero coupon bonds." Diwik adds investors would then be offered a ten percent return on their investment.
Agents say Velazquez ran his company from an apartment building in the 200 block of west Washington for six years. In that time, court records indicate he defrauded investors across the country out of nearly two million dollars. Investigators say Velazquez spent the money on himself and his girlfriend. They also he disappearred right before his case was slated to go to trial last November. A federal judge issued a warrant for his arrest in December.
Despite being on the run for three months, FBI agents say believe Velazquez may be hiding out in the Chicago area. They say that's because most of his friends and family are here, which means, you may have seen him.
Here is detailed description of what investigators say Velazquez looks like.
He is described as a Hispanic male, about six feet two inches tall, weighing around 250 pounds, with brown hair and eyes. He is known as either Eduardo or Edward R. Velazquez.
Wednesday, June 19 2013 6:51 PM EDT2013-06-19 22:51:22 GMT
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo.
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo. He is accused of driving without a license, then fleeing police, jumping a curb, and hitting Ariel and her grandmother as they were walking to school.
Wednesday, June 19 2013 6:13 PM EDT2013-06-19 22:13:15 GMT
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
Wednesday, June 19 2013 4:30 PM EDT2013-06-19 20:30:42 GMT
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
Wednesday, June 19 2013 4:13 PM EDT2013-06-19 20:13:39 GMT
The driver of the vehicle that left several people injured and a trail of destruction in the area of 2nd Avenue and East 4th Street in the East Village has been arrested.
The driver of the vehicle that left several people injured and a trail of destruction in the area of 2nd Avenue and East 4th Street in the East Village has been arrested.
Wednesday, June 19 2013 3:38 PM EDT2013-06-19 19:38:42 GMT
By MATT ALVAREZ NEW JERSEY (MYFOXNY) -- Nearly eight months later after Superstorm Sandy, many Jersey Shore families are still displaced from their homes. The storm destroyed Pam Vasquez's family home
By MATT ALVAREZ NEW JERSEY (MYFOXNY) -- Nearly eight months later after Superstorm Sandy, many Jersey Shore families are still displaced from their homes. The storm destroyed Pam Vasquez's family home
Wednesday, June 19 2013 1:46 PM EDT2013-06-19 17:46:33 GMT
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
