Donald Ray Lockard, 66, Indicted for Stealing $2 Million from Texas School District
A federal grand jury indictment charges Donald Ray Lockard, a 66-year-old man from Douglasville, Georgia, with one count of conspiracy to commit wire fraud and three substantive counts of wire fraud. The indictment alleges that Lockard stole over $2 million from the San Felipe Del Rio Consolidated School District (SFDRCISD).
Lockard, who did business as DL Investments from August 2019 to February 2020, allegedly stole SFDRCISD funds and used them for his own personal benefit. Co-conspirators sent fraudulent emails to the comptroller of SFDRCISD claiming to be representatives of the financial institution to which SFDRCCISD made bi-annual bond payments. Those fraudulent emails resulted in the diversion of SFDRCISD bond payments to a different financial account established and controlled by Lockard.
The indictment specifically identifies three separate fraudulent wire transfers to Lockard’s account on February 12, 2020, totaling $2,013,762.50. The indictment also includes a notice of criminal forfeiture in which the government is seeking to forfeit over $1.5 million seized from Lockard’s bank accounts.
Lockard remains on bond and faces up to 20 years in federal prison if convicted. The FBI is conducting this ongoing investigation, with Assistant U.S. Attorney Joshua Banister prosecuting the case on behalf of the government.
It is essential to note that an indictment is merely a charge and should not be considered as evidence of guilt. The defendant is presumed innocent until proven guilty in a court of law.
The alleged scheme occurred just a few months before Lockard filed for Chapter 7 bankruptcy on May 10, 2016. The San Felipe Del Rio Consolidated School District has not commented on the matter.
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Key Facts
- State: Texas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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