By Dorothy Tucker and Carol Thompson

CHICAGO (CBS) — He lost his job and his marriage. “So, mentally I really wasn’t all there,” said Timothy Donovan. So, he spent hours at the gym back in 2011 working out all that stress. That gym was XSport Fitness in Libertyville. That’s where Donovan met Rick Dugo in the fall of 2012.

“I mean he was always the life of the party kind of thing. You know, loud but cheerful,” recalled Donovan.

Dugo seemed to have all the trappings of a successful businessman: the fancy cars, expensive speed boats and large homes. “So that kind of attracted people. You know, I want to know this guy,” said Donovan.

Donovan did get to know Dugo very well, perhaps too well. “I trusted him where I thought he was a close friend and would be a business partner.”

Donovan told the CBS 2 Investigators that between 2013 and 2015 he doled out cash to Dugo like it was candy. Turning over thousands, even tens of thousands of dollars at a time to invest in the sweet-sounding money-making ventures.

Donovan showed CBS 2 his bank statements noting several large withdrawals – one even mentions Rick Dugo’s name. Many of those withdrawals were in the $8,000 to $49,000 range.

One of the biggest investments involved owning part of an existing Mundelein car wash and building another hand car wash inside a Chicago skyscraper. That’s the one that excited Donovan the most. It would be built at Trump Tower. “This is it. Nothing out there like it,”…

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