Downers Grove man named in SEC lawsuit missing

David Hernandez, the man sued by the U.S. Securities and Exchange Commission Monday for an alleged Ponzi scheme involving Mike North's Internet radio venture, has been missing since Monday evening.

Downers Grove Police Sgt. David Bormann said Hernandez's wife, Gina, called police at about 7 p.m. Monday to report her husband missing. She had spoken to Hernandez earlier by phone and was worried because he had been upset, Bormann said.

Hernandez, 48, has not been heard from since. He has been listed in a national police database of missing persons, Bormann said.

Hernandez was driving an olive-colored 2005 Ford Explorer with an Illinois license of 9656625, Bormann said. He was wearing a burgundy shirt and khaki pants. Anyone with information should contact the Downers Grove police at (630) 434-5600.

The SEC alleged Hernandez promised high returns on investments while diverting money for himself and for other uses, including helping to finance ChicagoSportsWebio.com, radio personality Mike North's Internet channel. Hernandez allegedly falsely told investors he was running a profitable payday-loan business, but used that business to shuffle money for other uses.

<div class="infoBox"> <h1>More Coverage</h1> <div class="infoBoxContent"> <div class="infoArea"> <h2>Stories</h2> <ul class="links"> <li><a href="/story/?id=300739">North's Internet money backer faces SEC charges <span class="date">[06/16/09]</span></a></li> </ul> </div> </div> </div>