Prairie State Wire

A federal grand jury in Chicago has indicted Jawad Fakroune, 45, on charges of wire fraud and tax evasion. Fakroune, who also used the names “Angelino Escobar,” “Anjelino Escobar,” “Angelo Escobar,” “Giovanni Escobar,” and “Angelo Baldini,” is accused of defrauding several individuals out of at least $2.6 million and failing to pay income taxes.

According to the indictment, Fakroune is a foreign national who recently lived in the Chicago area. In 2022, he allegedly obtained about $2.45 million from one person by claiming he would invest the funds in a shipping container business and a marijuana growing operation. The indictment states that instead of investing the money, Fakroune spent nearly all of it on personal expenses such as buying a home in Lemont, Illinois, paying rent for an apartment in New York, dining and shopping in New York City, purchasing a 2022 Cadillac Escalade, and acquiring several luxury watches.

The indictment further alleges that between 2023 and 2025, Fakroune engaged in similar schemes. In one instance, he reportedly received $150,000 from another victim after promising to invest it in a coffee shop or Mexican restaurant. He also allegedly convinced this victim to sign a lease for him on a residence in Michigan City, Indiana by falsely promising repayment of $300,000 related to the supposed investment. According to prosecutors, Fakroune did not repay any money.

Fakroune faces seven counts of wire fraud, four counts of tax evasion, and four counts of failing to file income taxes for the years 2020 through 2023.

The announcement was made 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 FBI’s Chicago Field Office. Assistant U.S. Attorneys Sean Hennessy and Richard M. Rothblatt are prosecuting the case.

“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.”