Former San Antonio bank executive gets 97 months in prison for masterminding massive fraud scheme

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Former San Antonio bank executive gets 97 months in prison for masterminding massive fraud scheme
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A former San Antonio bank executive gets 97 months in prison for masterminding massive fraud scheme

Ronald “Wayne” Schroeder, a former executive with a Bank of San Antonio subsidiary who masterminded a scheme that cost the bank $13 million, walks, Thursday, Aug. 25, 2022, into the San Antonio federal courthouse before his sentencing for the crime.Former bank executive Ronald “Wayne” Schroeder, the mastermind of a, is headed to federal prison for 97 months.

In December, Schroeder pleaded guilty to one count of conspiracy to commit bank fraud. Prosecutors dropped three counts of bank fraud and a single count of conspiracy to commit money laundering as part of his plea deal.Executive reaches plea deal in $13M ‘Ponzi-style fraud scheme’ involving San Antonio bank

“He made a series of choices over the years to defraud the people he was working for, the financial institutions he was working with,” Blackwell said in seeking prison time for Schroeder., which operates the Bank of San Antonio, told the judge Schroeder gave the bank a black eye. Schroeder also agreed to forfeit a beach house, which had an assessed value of more than $466,000, a $200,000 airplane, an $80,000 recreational vehicle and various cars.

She and her son, Ryan Glenn Martinez, 58, owned a cleaning company called Nerd Factory that participated in submitting fraudulent invoices. His sentencing was continued to a later date so the judge can learn about the circumstances of his release from jail in connection with an earlier crime.A breakdown of key state and local races and candidates in the May 24 primary runoff.

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