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AN ANTONIO – FBI agents arrested a 53-year-old man who allegedly stole money from a Mexican businessman and his family.
Armando Jesus Hernandez Leal, of Shavano Park, TX, was arrested in connection with a multi-million dollar investment fraud scam, officials announced Tuesday.
A federal criminal complaint charges Hernandez with one count of wire fraud.
According to the complaint, Hernandez was responsible for managing an estimated $66 million investment portfolio of a Mexican businessman and his family.
The complaint alleges that from 2005 to 2014, Hernandez had not invested his clients’ money like he had agreed to, but instead spent their money to purchase homes, planes and other assets for his personal use.
If found guilty, Hernandez faces up to 20 years in federal prison.
Hernandez is presumed innocent until proven guilty.