A Sinking Spring man is facing a series of felony charges following an investigation by the Berks County District Attorney’s Office into an alleged long-term embezzlement scheme involving family and friends.
Santiago J. Torres, 41, surrendered to authorities on Monday, April 7, after being charged with 17 counts of Theft by Deception, 11 counts each of Identity Theft and Forgery, and 7 counts of unlawful use of an access device to obtain or attempt to obtain property.
According to the District Attorney’s Office, Torres is accused of soliciting financial investments from acquaintances and extended family members between 2011 and 2024, promising high rates of return through products such as annuities and certificates of deposit. Investigators say the victims later discovered that the financial institutions named in the investments had no records of the accounts.
Eleven victims have been identified, with a total of approximately $750,000 allegedly given to Torres under the belief that the money was being invested. Detectives said interest payments eventually diminished, prompting victims to contact the institutions directly and uncover the alleged fraud.
In addition to the investment scheme, investigators say Torres opened a joint bank account, obtained several loans, and acquired credit cards using the identities of two extended family members without their knowledge. Authorities report that approximately $468,000 remains owed to the victims, financial institutions, and credit card companies.
Torres was charged following the issuance of a warrant by Magisterial District Judge Ann L. Young. He turned himself in to Berks County Detectives and was taken to the Central Processing Center at the Berks County Courthouse, where he awaits a preliminary arraignment.
As with all criminal cases, Torres is presumed innocent unless and until proven guilty in a court of law.
