A 71-year-old woman has been found guilty of bank fraud conspiracy involving millions of dollars in fraudulent loans in a large-scale scheme, announced U.S. Attorney Nicholas J. Ganjei.
Houston – Jennifer Williams admitted to acting as a loan borrower on millions of dollars in fraudulent loans as part of the scheme, which involved dozens of loans totaling at least $10 million in fraudulent proceeds.
As part of the plea, Williams acknowledged submitting loan applications with false income information along with fraudulent tax returns and financial statements. She also admitted using proceeds from the scheme to buy a home in the Houston area.
According to the U.S. Attorney’s Office, Williams and others accomplished the bank fraud by preparing loan applications that contained false and fraudulent information and documents, including fake equipment sales invoices, income tax returns and financial and bank statements.
U.S. District Judge Keith Ellison will impose sentencing on August 14. At that time, Williams faces up to five years in federal prison and a possible $250,000 fine or twice the amount involved in the transaction.
She was permitted to remain on bond pending that hearing. Another Houston resident charged in the case, Hugo Villanueva, 70, is considered a fugitive, and a warrant remains outstanding for his arrest. Anyone with information about his whereabouts is asked to contact the FBI at 713-693-5000.
The Federal Housing Finance Agency – Office of Inspector General (OIG), IRS Criminal Investigation, FBI and Federal Deposit Insurance Corporation – OIG conducted the investigation. Assistant U.S. Attorney Belinda Beek is prosecuting the case.
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- Shannon Tecoko Mays, Conspiracy to Commit Wire Fraud, Texas, 2012 · Oklahoma
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- Mark C. Simpson, Child Support Fraud and Drug Conspiracy, Atlanta G… · North Carolina
Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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