After disappearing when his Chicago sports Internet venture went bust, David Hernandez was arrested last Monday in a Normal, Ill., hotel room following a failed suicide attempt. He was taken into custody and transported to an area hospital for treatment of self-inflicted wounds.
Hernandez was released from the hospital today and was due to go before a U.S. District Court judge on mail fraud charges.
Hernandez had disappeared after federal authorities accused him in civil court of running a Ponzi scheme that bilked more than 100 investors out of $12 million.
The SEC accused Hernandez of diverting the millions he raised from investors for a purported pay-day loan business for personal expenses and to fund other ventures, including Chicago Sports Webio.
The highly-publicized Internet radio venture with Mike North collapsed. Payroll checks bounced. Hernandez didn't return calls. And Mike North started making noise in the media, calling Hernandez a con man.
Several others -- including his wife -- have stepped up in recent days to publically distance themselves from Hernandez, described at one point as being "intelligent, articulate, clean-cut" and polite.
Note to self: Steer clear of nice guys offering big returns.