60-year-old Raymond Echavez Villamor faces federal fraud charges in Chicago for allegedly swindling $2M through a bogus investment scheme.

60-year-old Newport Beach man, Raymond Echavez Villamor, faces federal fraud charges in Chicago after allegedly swindling a Glenview, Illinois resident out of $2 million through a bogus investment scheme. Villamor, who operated a company called Rainbowork LLC, is charged with five counts of wire fraud and has pleaded not guilty. Each wire fraud charge carries a potential 20-year prison term.

May 25, 2024
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