Chicago's Most Wanted: Steven Banuelos - New York News

Chicago's Most Wanted: Steven Banuelos

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Almost every time the FBI asks for the public's help, they are trying to track down a most wanted criminal. But this week they already have a suspect in custody. Now they want help finding those who may have been victims.

The suspect is Michael Steven Banuelos.

He was arrested in Chicago last month on charges he defrauded people who invested money in what he claimed would be a lucrative set of business deals for aspiring musicians.

The FBI says he promised high rates of returns once those entertainment contracts came to fruition when in reality there were no contracts. Agents say the investment deals were a sham.

Banuelos, who's nickname is "Ferrari Mike," is accused of using the money to support a lavish lifestyle including luxury cars, private jets, a country club membership, expensive clothing and jewelry as well as paying alimony.

The FBI says it has reason to believe there may be people in the Chicago area who might have been convinced by Baneulos to invest in his phony business opportunity. It's asking those people to come forward so agents can try to help them get back at least some of their money.

The FBI says Banuelos operated under a couple of phony business names, including M & T Marketing, Ferrari Mike Music Group, and EPlanet-EWaste which he's said to have just set up in Chicago.

Anyone with information is asked the contact the FBI at their office in San Francisco, which is coordinating the investigation.

The tip number they have set up for this case is 415-553-7400.

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