Va. entrepreneur faces fraud charges, bankruptcy

ASHBURN, Va. (AP) - When Virginia steakhouse owner Osama El-Atari disappeared last year, he left behind a $3.8 million mansion, splashy sports cars and banks that said he cheated them out of about $60 million.

Authorities thought El-Atari had left the country to escape his debts until they found the 31-year-old in Texas.

El-Atari's detention hearing on bank fraud charges is Wednesday in U.S. District Court in Alexandria. He has been indicted on similar federal charges in Ohio.

The owner of several Original Steakhouse & Sports Theatre restaurants in the D.C. suburbs was known for his fleet of sports cars. But prosecutors say his wealth was built on fraud. Court papers say El-Atari got tens in millions in loans by borrowing against fake life insurance policies.