U.S. Attorney Morris Pasqual | U.S. Department of Justice
A former executive director of a nonprofit organization in the Chicago area has been indicted on federal fraud charges. William Schneider is accused of embezzling millions of dollars in cash and real estate interests from the organization, which provided affordable housing to low-income residents and senior citizens in both the Chicago area and Florida.
According to an indictment returned Tuesday in U.S. District Court in Chicago, Schneider allegedly transferred assets from the nonprofit to himself between 2018 and 2022. He reportedly concealed these actions by fabricating documents that falsely indicated the transfers were authorized. Among the assets was a cell phone tower lease related to a senior living facility owned by the nonprofit in Northlake, Illinois. In early 2022, Schneider allegedly assigned this interest to his own company without any compensation before selling it for approximately $500,000.
The charges further claim that Schneider solicited kickbacks or bribes from brokerage and architectural firms working with the nonprofit on development projects in Illinois and Florida. Additionally, he is accused of attempting to gain full financial control over a senior living facility developed by the nonprofit in Calumet Park, Illinois.
Schneider, aged 54 from Antioch, Illinois, faces five counts of wire fraud and two counts of mail fraud. His arraignment has yet to be scheduled.
The indictment was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, alongside Douglas S. DePodesta, Special Agent-in-Charge of the FBI's Chicago Field Office. The prosecution will be led by Assistant U.S. Attorney Corey B. Rubenstein.
Each charge carries a potential sentence of up to 20 years in federal prison if convicted. It is important to note that an indictment does not constitute evidence of guilt; Schneider remains presumed innocent until proven guilty beyond a reasonable doubt at trial.
