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Around Town
Chicago Sports Webio Investor Gets 16 Years for Ponzi Scheme
His wife was oblivious that he was forging her signature to mortgages. He duped Mike North and fired him from their Chicago Sports Webio project when Pappy started asking why checks were bouncing. He went on the run when it was discovered he was running a Ponzi scheme to fund the failed web radio project. Later he pleaded guilty to that Ponzi scheme. Today, David Hernandez was sentenced to sixteen years and eight months in prison for that Ponzi scheme. Hernandez swindled $6.4 million from investors in the Ponzi scheme, which he used for personal use, including starting Chicago Sports Webio.
Wife of David Hernandez Was Oblivious
She married ChicagoSportsWebio founder David Hernandez in 2001, but she is just now finding out who he really was. Last week, the SEC accused Hernandez of running an $11 million ponzi scheme that funded the ChicagoSportsWebio venture, and he promptly left town. Gina Hernandez reported her husband missing on June 16, and police found him at a hotel downstate on June 22.
The Strange Saga Of ChicagoSportsWebio Continues
It's been a strange couple of days for ChicagoSportsWebio and it all culminated with the site shutting down yesterday, according to the Trib's Phil Rosenthal. While the site still looks like it's fully operational, indeed, there is no audio. The drama started when Mike North's complaints about bounced checks got him fired from the site by co-founder David Hernandez. Hernandez was then alleged to have been running a Ponzi scheme and subsequently disappeared, his wife yesterday filing a missing person's report.
Extra, Extra
- Lynn Sweet reports that President Obama is creating a new White House Office of Olympic, Paralympic and Youth Sport, a move that officials hope might help out Chicago's 2016 bid.
- David Hernandez, the investor with the Chicagosportswebio ordeal who is accused of running a Ponzi scheme, has gone missing according to authorities.
- TOC brings us news of a scheduled reunion among the riot police who were involved in both the 1968 Democratic National Convention and the 1969 Days of Rage.
WSCR Making Move For FM?
Having just added Dan McNeil to its lineup, it seems AM 670 WSCR - The Score - could be making its way to the FM dial soon. According to the Sun-Times, the Score is aiming to be "simulcasting on one of adult hits WJMK-FM's (104.3) three HD frequencies." The S-T report continues:

