• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Dirty.Fund
  • Home
  • Fraud
  • Scams
  • Crime
  • Contact Us
No Result
View All Result
  • Home
  • Fraud
  • Scams
  • Crime
  • Contact Us
No Result
View All Result
Dirty.Fund
No Result
View All Result

2nd woman pleads guilty in fraud case that cost San Antonio bank $13 million

July 26, 2021
in Fraud
Reading Time: 2min read
A A
0
0
SHARES
44
VIEWS
ShareShareShareShare

A second defendant has entered a guilty plea in a fraud case that cost the Bank of San Antonio more than $13 million.

Jill Martin Alvarado, 58, of Irving, on Tuesday pleaded guilty to conspiracy to commit bank fraud in a case that involves the former president of a Bank of San Antonio subsidiary.

Alvarado’s plea came a week after a San Antonio woman, Phyllis Jo Martinez, 79, pleaded guilty to the same charge.

On ExpressNews.com: San Antonio woman pleads guilty to role in bank fraud

Both women face the possibility of up to 30 years in prison, up to three years of supervised release and a maximum fine of $1 million. They also will be required to make full restitution.

Alvarado and Martinez also had been indicted on one count of conspiracy to commit money laundering, but the charge was dismissed in exchange for the guilty pleas.

Alvarado is free on a $50,000 unsecured bond pending her sentencing June 1. Martinez’s sentencing is set for May 25.

Joey Contreras, Alvardo’s San Antonio defense lawyer, declined to comment after the hearing.

U.S. District Judge Jason Pulliam conducted the plea hearing via Zoom.

The case centers on Ronald “Wayne” Schroeder, the former president of a Bank of San Antonio factoring subsidiary called Texas Express Funding LLC.

Factoring involves advancing cash to companies in return for acquiring at a discount the debts owed to them. This allows the companies to get money quickly instead of waiting for customers to pay their bills.

Alvarado and her husband, Rigo Alvarado, are co-owners of a trucking company called Alvy’s Logistics, which does business as Alvy’s Trucking LLC.

SA Inc.: Get the best of business news sent directly to your inbox

According a November indictment, the couple assisted Schroeder in providing false and misleading invoices from Alvy’s to financial institutions for factoring. That would result in payments to Alvy’s. Some of that money was then turned over to Schroeder “for his own profit,” the indictment stated.

Schroeder is accused of using proceeds from the alleged scheme to buy automobiles, recreational vehicles, an airplane, a boat and a beach house. He faces three counts of bank fraud, conspiracy to commit bank fraud and conspiracy to commit money laundering. He has pleaded not guilty.

Schroeder’s lawyers have said he is cooperating and would “continue to work with the government to rectify the situation.”

The indictments followed an August disclosure by the Bank of San Antonio that it had uncovered a $13.2 million “Ponzi-style fraud scheme” involving Schroeder.

Rigo Alvarado also was indicted on conspiracy to commit bank fraud and conspiracy to commit money laundering. He has pleaded not guilty.

Martinez’s son, Ryan Martinez, was indicted on the same charges. They owned a cleaning company that allegedly participated in the scheme. Ryan Martinez has pleaded not guilty.

pdanner@express-news.net

Credit: Source link

SendShareTweetSend
Previous Post

Former City Hall inspector pleads guilty to wire fraud in case tied to Carrie Austin probe

Next Post

Florida fund manager forged college investment docs to land $95 million loan, feds say

Next Post
Florida fund manager forged college investment docs to land $95 million loan, feds say

Florida fund manager forged college investment docs to land $95 million loan, feds say

  • Trending
  • Comments
  • Latest
Puerto Rico Operators of Investment Coaching Scheme Banned from Industry and Ordered to Pay Millions in Redress to Defrauded Consumers

Puerto Rico Operators of Investment Coaching Scheme Banned from Industry and Ordered to Pay Millions in Redress to Defrauded Consumers

February 22, 2022
Fifth Tampa man pleads guilty in health care fraud case

Fifth Tampa man pleads guilty in health care fraud case

August 10, 2021
Larby Amirouche the leader of internet marketing schemes charged with defrauding customers and financial institutions of millions of dollars

Larby Amirouche the leader of internet marketing schemes charged with defrauding customers and financial institutions of millions of dollars

January 22, 2023
Allysian Sciences execs sued for $50 million in crypto fraud

Allysian Sciences execs sued for $50 million in crypto fraud

December 16, 2021
Two Baltimore companies on list of possible FTX creditors

Two Baltimore companies on list of possible FTX creditors

May 14, 2023
How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?

How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?

May 14, 2023
U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source

U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source

May 14, 2023
Jen Shah sentenced to 78 months in prison for her role in nationwide telemarketing fraud scam

Jen Shah sentenced to 78 months in prison for her role in nationwide telemarketing fraud scam

May 14, 2023

Recent News

Two Baltimore companies on list of possible FTX creditors

Two Baltimore companies on list of possible FTX creditors

May 14, 2023
How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?

How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?

May 14, 2023
U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source

U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source

May 14, 2023
Jen Shah sentenced to 78 months in prison for her role in nationwide telemarketing fraud scam

Jen Shah sentenced to 78 months in prison for her role in nationwide telemarketing fraud scam

May 14, 2023

About

This is an online news portal that aims to share latest news about fraud, scams, crime and much more stuff like that. Feel free to get in touch with us!

What’s New Here!

  • Two Baltimore companies on list of possible FTX creditors
  • How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?
  • U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - Dirty.Fund - All rights reserved! If you have breaking news, please contact us directly at dirtyfund@protonmail.com

No Result
View All Result
  • Home
  • Fraud
  • Scams
  • Crime
  • Contact Us

© 2021 - Dirty.Fund - All rights reserved! If you have breaking news, please contact us directly at dirtyfund@protonmail.com