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California man sentenced for $2M fraud targeting Glenview investor: prosecutors

By Lauren Westphal
Published  May 6, 2026 4:03pm CDT
Crime and Public Safety
FOX 32 Chicago

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:

According to the U.S. Attorney's Office, Villamor solicited and obtained a $2 million investment from a Glenview, Ill. resident over the course of six months in 2023. Villamor claimed to be an investment advisor and promised the victim that they would receive their money back, plus a substantial return. Prosecutors say Villamor actually used the money for personal expenses, including to buy vintage cars. He also allegedly used the money to pay back other investors.

What's next:

On Tuesday, Echavez Villamor was ordered to repay the victim in full and was sentenced to 30 days in prison.

The Source: Details for this story were provided by the U.S. Attorney's Office, Northern District of Illinois.

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