No bond for alleged 'Webio' Ponzi schemer

June 29, 2009 2:27:01 PM PDT
A Chicago-area man linked to an $11 million Ponzi scheme was ordered held without bond at a court hearing in Peoria Monday. David Hernandez went missing after he was accused of ripping off investors, which included people who put money into the Chicago Sports Webio online radio venture.

Hernandez was found last week at a downstate motel and was hospitalized after a suicide attempt.

Hernandez appeared in federal court in Peoria Monday afternoon. He will be returned to Chicago.


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