South Texas man indicted on fraud charges

McALLEN, TX Prosecutors allege that Albert "Andy" Anzaldua lured investors into a purportedly high-yield investment program with promises of rapid returns. Instead, Anzaldua spent most of the money on personal expenses unrelated to the investment, prosecutors say.

Special agents with the U.S. Secret Service arrested Anzaldua at his McAllen home Monday and he was later released on bond after making an initial appearance in federal court. He was scheduled to be arraigned Thursday.

No one answered at a number listed for Anzaldua Monday.

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