From the U.S, Attorney:
MAN INDICTED ON FEDERAL FRAUD AND TAX CHARGES FOR ALLEGEDLY DEFRAUDING INDIVIDUALS OUT OF $2.6 MILLION AND EVADING INCOME TAXES
CHICAGO — A man has been indicted on federal fraud and tax charges for allegedly defrauding numerous individuals out of at least $2.6 million and willfully evading income taxes.
An indictment returned Tuesday in U.S. District Court in Chicago charges JAWAD FAKROUNE, also known as “Angelino Escobar,” “Anjelino Escobar,” “Angelo Escobar,” “Giovanni Escobar,” and “Angelo Baldini,” 45, with seven counts of wire fraud, four counts of tax evasion, and four counts of failing to file income taxes.
Arraignment in federal court has not yet been scheduled.
According to the indictment, Fakroune is a foreign national who recently resided in the Chicago area.
In 2022, Fakroune fraudulently obtained approximately $2.45 million from an individual by falsely representing that Fakroune would invest the money in a shipping container business and a marijuana growing operation, the indictment states.
Instead of investing the money, Fakroune used nearly all of it for his personal purposes, including
- purchasing a residence in Lemont, Ill.,
- paying rent for a residence in New York,
- funding restaurant and shopping trips in New York City,
- purchasing a 2022 Cadillac Escalade, and
- buying multiple high-end watches,
the indictment states.
The indictment alleges that Fakroune engaged in similar fraud schemes between 2023 and 2025.
One scheme involved Fakroune obtaining $150,000 from a victim by falsely representing that Fakroune would invest the money in a coffee shop or Mexican restaurant.
Fakroune allegedly caused this victim to sign a lease on Fakroune’s behalf for a residence in Michigan City, Ind., based upon Fakroune’s false representations that, in exchange for signing the lease, Fakroune would repay the victim $300,000 in connection with the purported coffee shop or Mexican restaurant investment.
In fact, Fakroune did not repay any of the victim’s money, the indictment states.
The tax charges accuse Fakroune of attempting to evade income taxes and willfully failing to file income taxes for the calendar years 2020 through 2023.
The indictment was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, Jason Bushey, Acting Special Agent-in-Charge of IRS Criminal Investigation in Chicago, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI. The government is represented by Assistant U.S. Attorneys Sean Hennessy and Richard M. Rothblatt.
The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
