Nicholas J. Ganjei United States Attorney for the Southern District of Texas | U.S. Attorney for the Southern District of Texas
A 71-year-old woman from Houston has pleaded guilty to participating in a bank fraud conspiracy involving millions of dollars, according to U.S. Attorney Nicholas J. Ganjei. Jennifer Williams admitted her involvement in the scheme, which took place between 2016 and 2021 and involved fraudulent loans totaling at least $10 million.
Williams confessed to submitting loan applications with falsified income information, fraudulent tax returns, and financial statements. She also acknowledged using some of the proceeds from the scheme to purchase a home in the Houston area.
The fraudulent activity was carried out by preparing loan applications with false documents, including fake equipment sales invoices and altered financial statements.
U.S. District Judge Keith Ellison is set to impose sentencing on August 14. Williams could face up to five years in federal prison and a fine of $250,000 or twice the amount involved in the transaction. She remains on bond until the sentencing hearing.
In connection with this case, another Houston resident, Hugo Villanueva, aged 70, is considered a fugitive with an outstanding warrant for his arrest. The FBI urges anyone with information about his whereabouts to contact them at 713-693-5000.
The investigation was conducted 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.
