SA man arrested in connection with multi-million dollar investment scam

Armando Jesus Hernandez Leal, 53, charged with wire fraud

SAN ANTONIO – FBI agents arrested a 53-year-old man Tuesday in connection with a multi-million dollar investment fraud scam.

According to a criminal complaint, Armando Jesus Hernandez Leal of Shavano Park managed an estimated $66 million investment portfolio for a Mexican businessman and his family, but allegedly did not invest his client's money like he agreed to do. Department of Justice officials said Leal instead spent the family's money on purchasing homes, planes and other assets for personal use.

At his inital court appearance Tuesday, Leal was detained without bond pending a hearing that is scheduled for Friday.

Leal is charged with one count of wire fraud. If convicted he faces up to 20 years in federal prison.