Feds charge suburban financial adviser with swindling clients buying homes after foreclosure

CHICAGO - A north suburban financial adviser faces 10 federal counts of wire fraud after allegedly swindling about $450,000 from her clients.

Mary Martinez, of Glencoe, promised to help her clients save and invest their money and improve their credit after foreclosing their homes, but instead allegedly used their money for her own personal use, according to an indictment filed in Chicago’s federal court.

Mary Martinez, who also goes by Mary Flores, allegedly used the funds for her own rental payments and retail expenses since 2011, prosecutors said.

Martinez used radio advertisements to promote her businesses, which included Illinois Housing Solutions, America Investment Corporation, and Investor Short Sale Niche, prosecutors said.

Each count of wire fraud is punishable by up to 20 years in prison.

Her arraignment has not been set.