The Brief
- A California man, Raymond Echavez Villamor, pleaded guilty to wire fraud after obtaining $2 million from a Glenview, Illinois resident by posing as an investment advisor.
- Prosecutors said he used the money for personal expenses, including vintage cars, and to repay other investors rather than making legitimate investments.
- He was sentenced to prison and ordered to repay the victim in full.
CHICAGO – A California man has been sentenced to two and a half years in federal prison after allegedly swaddling $2 million from a Chicago suburb resident.
Raymond Echavez Villamor, 62, of Newport Beach, Calif., pleaded guilty last year to federal wire fraud.
The backstory:…