A 62-year-old Houston resident, William Mills, has confessed to his involvement in laundering money from a bank fraud scheme spanning nearly a decade. The announcement was made by U.S. Attorney Nicholas J. Ganjei. Mills admitted his role in the scheme, which involved various loans totaling at least $35 million in fraudulent loan proceeds from 2014 to 2023.
Mills, alongside others, opened shell companies and bank accounts to facilitate the scheme. He acknowledged laundering the proceeds by wiring the money to bank accounts controlled by co-conspirators. The fraud entailed the preparation of loan applications with false documentation, including fake equipment sales invoices, income tax returns, and financial statements.
The sentencing of Mills is scheduled for June 27 by U.S. District Judge Keith Ellison. Mills could face a maximum of 10 years in federal prison, in addition to a possible $250,000 fine or up to twice the amount involved in the transactions.
Currently, Mills remains in custody as he awaits sentencing. Two other Houston residents implicated in the scheme, Jeremiah Almaguer and Bun Khath, have previously pleaded guilty to money laundering and are awaiting their sentences. Another individual, Hugo Villanueva, remains at large with a warrant out for his arrest. The FBI has requested anyone with information on Villanueva's location to contact them at 713-693-5000.
The investigation was carried out by several agencies, including the Federal Housing Finance Agency-Office of Inspector General (OIG), IRS Criminal Investigation, FBI, and Federal Deposit Insurance Corporation-OIG. Assistant U.S. Attorney Belinda Beek is handling the prosecution of this case.