Alleged Ponzi schemer out of jail

September 15, 2009 2:31:57 PM PDT
The Downers Grove financer accused in a $12 million Ponzi scheme was released from jail Tuesday. David Hernandez was released on home confinement with electronic monitoring.

Hernandez helped launch Chicago Sports Webio. He was indicted for allegedly engaging in a Ponzi scheme that involved nearly 300 people.

Hernandez was found in downstate Normal after disappearing just before federal charges were announced.

Hernandez has pleaded not guilty.


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