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Wednesday, September 17, 2014

Oscar Villarreal, Young Mexican Swindler, Indicted on 19 Counts of Fraud and Money Laundering

Posted By on Wed, Sep 17, 2014 at 9:54 AM

click to enlarge oscarvillarreal.jpg
Oscar Villarreal, the young Mexican businessman seen as a rising star in the Northeast Ohio business community, has been indicted by a grand jury on 19 counts of fraud and money laundering.

Villarreal, now 29, swindled millions of dollars from 51 of Cleveland's most prominent figures on the business-civic-leader matrix, promising massive returns on investment for funds related to petroleum and steel in his native Mexico.

The charismatic Villarreal endeared himself to Cleveland higher-ups by moving to Gates Mills and joining cultural boards, and then paying an initial group of investors a 30 percent return. He used later investments to play the stock market and furnish a lavish lifestyle for himself, complete with European sports car and Steinway grand. 

Villarreal is currently a fugitive in Mexico, but  the FBI's on the case. They're seeking tips about his current location. 

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