Enrique F. Villalba, Ponzi Scheme, Another Bernie Madoff?

Enrique F. Villalba from Cuyahoga Falls is being investigated today for running what could be his own ponzi scheme and locals are calling him a minature Bernie Madoff. He is accused of obtaining funds of more than $18 million from his friends and clients.

The FBI is involved, and two separate lawsuits filed in Akron and Seattle but the 46-year-old man has had no criminal charges filed against him at this time.

Enrique F. Villalba has not commented on the case as of yet and a note on his front door in Cuyahoga Falls says he no longer lives there.

He is the principal operator of Money Market Alternative and Hybrid Money Management both in Beachwood. He is also the owner of Rico Latte in Hudson. He allegedly accepted millions of dollars from his friends and clients and promised strong returns. Of course, there were no returns given. Enrique F. Villalba promised 8 to 12 percent returns on investments, but everything was made up.