Financier accused in Ponzi scam to stay in jail
July 20, 2009 10:30 AM | No Comments
Chicago financier David Hernandez will be remaining in federal custody after he decided not to fight his detention at a hearing today.

Hernandez, who fled the Chicago area after being charged with running an extensive Ponzi scheme, was arrested earlier this month after apparently attempting suicide at a Normal hotel. He has pleaded not guilty in the case, and prosecutors sought to keep him behind bars as a flight risk.

At a hearing last week, Hernandez told U.S. Magistrate Judge Susan Cox that he expected criminal-defense lawyer Jeffrey Steinback would be taking his case. But Steinback told the Tribune he did not plan to represent Hernandez.

On Monday, Hernandez agreed to be represented by a court-appointed attorney, John Meyer, telling Cox he had "full confidence" in the lawyer.

Hernandez of Downers Grove was indicted this month and accused of victimizing 290 individuals over a two-year period in a Ponzi scheme that produced $3.5 million in losses when it collapsed. Authorities have said the alleged scheme helped bankroll the local Internet sports radio station Chicago Sports Webio.


http://www.chicagobreakingnews.com/2009 ... -jail.html






This story just keeps getting wierder.

This will certainly shift the Vegas line on the trial.

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I distrust those people who know so well what God wants them to do, because I notice it always coincides with their own desires. -Susan B. Anthony

Of course. He has no money to pay a good lawyer.

Hopefully the Government offer will be so much time, it is rejected and the case is tried.

The lawyer is only as good as his/her facts.

Federal Defender or Ed Genson.......the trial would be a hoot with the Norths on the witness stand for the Feds.

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There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

A kid fresh out of Law School or a $1,000,000 lawyer....the Fed wins.

Blago will find this out.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

"Authorities have said the alleged scheme helped bankroll the local Internet sports radio station Chicago Sports Webio."

My favorite line in the story, which means they will want some money back for investors.

Of course. We've all been saying that since the beginning. I just wonder if this means they'll take back what little money the webio hosts and producers did get. I think they got a couple of checks before they started bouncing.

Wasn't it supposed to say " . . . helped bankroll the local internet sports radio station Chicago Sports Webio, featuring the popular Mike North who participated in the Softball Hall of Fame dedication yesterday in Forest Park and who can still be seen 6-9 AM on Comcast Sports Net on 'Monsters in the Morning' "?
North's publicity machine must have shut down.

But wait! here's the other version in the other paper:
"Hernandez, who co-founded the now-defunct ChicagoSportsWebio.com, which featured popular sportscaster Mike North, waived a bail hearing this morning in federal court."

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No more L word.

Not all PD's are fresh out of college. Some are but I've seen a couple of PD's in my county fight the hell out of a murder case they had no chance of winning. They have huge case loads but more often than not, they give a better effort than a "real" lawyer. So me "real" lawyers get their up front money then you are at their mercy while a PD is obliged to give the best defense they can. PD's are often seen as incompitent but they also have a chip on their shoulder. A case is more likely to be re-tried after an appeal if the appeals court rules that the defendants attorney did an inadequate defense resulting in a guilty verdict. The Public Defenders Office will definitely put one of their better Attorneys on this high profile case.

The Cook County Public Defenders Office has a Murder Task Force in which experienced and skilled trial attorneys defend Homicide cases, some with death sentencing hearings.

Hernandez in Federal Court will be represented by the Federal Defenders Office...

Hernandez at seemed to want to cop a plea....Madoff copped a plea with no deal anyone was aware of......and got hammered.....

There is no way that Dead End Kid North is a participant in the Ponzi Scheme, as much as he is reviled here as an ego driven self promoting clown.

North is a dunce, not a criminal.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

The guy allegedly tried to kill himself....His lawyer had better get a shrink report to at least cover his own ass if this guy really just wants to plead guilty soon.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

Would it surprise anyone here if they found out that Hernandez told North how he got the money and North took it anyway?

North wanted this bad. Does he take dirty money knowingly or sell Hot Dogs again?

I dont know if he knew or not (probably not) but you know as well as I do that North would have taken the money anyway.

I don't think he really tried to kill himself. There is no try in killing yourself. You either do or you do not. He just wanted some sympathy so he acted like it was a suicide attempt.

You could be ignorant and still be libel and criminal. As officers of a company they have that responsibility. Aiding and abetting is a charge that could be used. They were playing radio execs like it was a game. Bebe was COO for crying out loud. You have a responsibility. It will be tough to prove criminal charges but it's possible. Civil suits will be easier to win for these 100 people.

Webio was/is incorporated, right?
That protects the individuals involved unless they are an active knowing part of the fraud.

This clown Hernandez hooking up with the goof North is a thing of beauty.

The Feds have certainly interviewed North and BeBe.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

I respectfully disagree. People who are not trained to use various implements can fuck up. A good example is a good friend's dad who tried to blow his head off but held the gun under his chin rather than swallowing it. In any case, the gun discharged and the bullet ended up piercing his frontal lobe but he survived with the use of a feeding tube and living in rehab hospitals.

I agree....but a shrink has to interview Hernandez unless his own lawyer wants a headache down the road....these criminals are assholes and turn on their lawyer at any given moment....in the courthouse, at the jail, after they are sent to prison, and they have appellate and post conviction rights were they scream their lawyer screwed up.

Hernandez is a criminal....he will do whatever he can to get himself out of prison once the bus drops him there.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

The moron had all his accounts frozen, like he had money for an attorney?

This isnt news.

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I'm waiting to hear what the moron told the "G".

If Rope A Dope North was involved, I can't see Hernandez not spilling his guts to try and get less time.

All indications are North is as Stupid as he sounds and he took this criminal-groupie at face value......

North's stupidity and ego are the perfect defense.

_________________
There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

Its going to depend if the Feds want Nort, which, unless stupidity is a crime, highly doubtful.

Theres something just not right about this whole fiasco.
Theres something thats not being told, I cant put my finger on it, but I seriously would love to see this go to trial, so everything comes out.If you think about it, Nort and his raggity wife as ppl in charge of the webitanic doesnt sound kosher, theres nothing saying DH doesnt say their hands are just as dirty.

Fucked up thing is, Nort could have a MITM special with live feeds and exclusive rights to the trial on his show, he might get viewers.

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In civilized society, any failed suicide can result in a mortifying lack of station. But with a car and closed garage door, one gets minimum self-protection. Well, off to the pinewood box. Carbon monoxide. Because anything less would be uncivilized.

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I distrust those people who know so well what God wants them to do, because I notice it always coincides with their own desires. -Susan B. Anthony

Are you Boss Hog?

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O judgment! Thou art fled to brutish beasts,
And men have lost their reason.

No but I own a dog named FLASH.

There is NOTHING to stop David Hernandez from pointing a big finger at North. He has nothing to lose and some less time in the clink to gain. I wouldnt be surprised if Hernandez had a back up plan with shit pointing at North just in case this went bad. He can make shit up for all we know. If Hernandez has seen the nagative quotes from team North since all of this went down then he is probably going to throw North under the bus. I would.

We got guys at the PD Office! Hey , I play in the PD's NCAA Pool every year! lol

Guys who dont post that much, are at the PD's office.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Agreed.

Nort has come across as such a compulsive liar after this whole thing blew up in his face, it would be smart for DH to say Nort knew things.

Come on, all DH has to say is "He made his wife the COO"

Now that I think about it, getting "popular" Mike Nort should be part of his plea deal.How could the COO NOT know what the fuck was going on? How could anybody of stature at that epic fail have no clue what was going on?

North was too quick to abandon ship, waaay too quick. Then, his admittance of handing out money to those whose checks bounced, like he felt guilty.Then, running to every media outlet that would take him, yet controling what was asked.

Its really looking like Nort has something to hide. Hopefully, it comes out.

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I'm waiting to find out if North went with Hernandez on any presentations to any of the investors, if so his ass is in big trouble.

Great band.

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OK, now we know for certain you're a mult. Bigfan: IP match, activate!

There's at least 2 sig lines in this post, BTW.

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I distrust those people who know so well what God wants them to do, because I notice it always coincides with their own desires. -Susan B. Anthony