Businessman charged with mail fraud

November 25, 2009 2:46:13 PM PST
A north suburban man is released on $100,000 bond after being charged with defrauding several people of millions of dollars they invested with him.Fifty-six-year-old Jay Nolan of Wilmette was arrested yesterday and charged with mail fraud.

Prosecutors say the money was invested in a commodity futures hedge fund he managed.

If convicted, Nolan could face up to 20 years in prison.