California IN BRIEF : NAPA : Ex-Radio Personality Faces Fraud Charges

The Internal Revenue Service and Napa police arrested a former radio personality for possible violations of bank and tax fraud, a newspaper reported. IRS agents believe Mike Savage is the mastermind of a scheme that lured thousands of people to invest in a financial project that would turn a $5,000 investment into $10 million, according to a copyrighted report in The Napa Register. Savage, 32, is a former KVON radio personality and former owner of the Napa Sentinel newspaper. He is being held without bail in the Napa County Jail on a federal charge of bank fraud, Napa police said. Savage allegedly persuaded investors to put thousands of dollars in a program--funds he used to support a lavish lifestyle.