Slobodan Lunic and his partner allegedly orchestrated a huge fraud scheme involving the purchase of pay phones in the Chicago, Illinois area. Approximately 2,200 investors across the United States were defrauded of approximately 43 million dollars. More than half of the investors were elderly victims who lost significant portions of their life savings. After surrendering to authorities, Lunic was scheduled to stand trial on fraud charges on June 21, 1999. On June 19, 1999, Lunic cut off his home electronic monitoring device and is believed to have fled the area. A federal arrest warrant was issued for Lunic on June 23, 1999, in the United States District Court, Northern District of Illinois, Eastern Division, after he was charged with failure to appear for his trial.
Lunic speaks English with an Eastern European accent. He is a licensed pilot and has ties to Las Vegas, Nevada; Southern Florida; the Phoenix/Scottsdale areas of Arizona; Serbia and Switzerland.