A federal grand jury in Chicago has indicted Jawad Fakroune, 45, on multiple fraud and tax charges. Fakroune, who also used the names “Angelino Escobar,” “Anjelino Escobar,” “Angelo Escobar,” “Giovanni Escobar,” and “Angelo Baldini,” faces seven counts of wire fraud, four counts of tax evasion, and four counts of failing to file income taxes.
The indictment alleges that Fakroune defrauded several individuals out of at least $2.6 million. In 2022, he allegedly obtained about $2.45 million from one person by claiming the funds would be invested in a shipping container business and a marijuana growing operation. According to prosecutors, nearly all the money was instead spent on personal expenses such as buying a residence in Lemont, Illinois; paying rent for an apartment in New York; shopping and dining in New York City; purchasing a 2022 Cadillac Escalade; and acquiring several high-end watches.
Authorities further allege that between 2023 and 2025, Fakroune continued similar schemes. In one case, he is accused of obtaining $150,000 from another victim under the pretense of investing in a coffee shop or Mexican restaurant. The indictment states that this victim also signed a lease for Fakroune’s use in Michigan City, Indiana after being promised repayment of $300,000 related to the supposed investment—money that was never returned.
Fakroune is also charged with attempting to evade income taxes and willfully failing to file returns for tax years 2020 through 2023.
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 announced the charges. 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.”
