A Tulsa man was charged on Friday in U.S. District Court with defrauding five federally insured financial institutions and two investor families of more than five million dollars.
William Mulder is charged with twenty-six counts of bank fraud, forty-one counts of causing the interstate transmissions of moneys taken by fraud, and five counts of engaging in unlawful monetary transactions.
According to a superseding indictment returned by a grand jury, Mulder is alleged to have repeatedly represented himself to banks and investors as a person of high net worth who owned and controlled assets that, in fact, did not exist.
Mulder pledged these assets as collateral for loans and lines of credit that totaled approximately $4 million.
Among the phony assets were life insurance policies that Mulder represented to have been worth hundreds of thousands of dollars.
Mulder allegedly told the investors that they could invest through his own family trust and also in specific ventures, such as the financing of a doctor’s home that, Mulder claimed, was being built in the Joplin, Missouri, area.
“The superseding indictment in the Mulder case touches upon two important aspects. First, Mr. Mulder is alleged to have defrauded financial institutions that are the mainstay of commercial activity in our communities. Second, Mr. Mulder is alleged to have defrauded individuals who sought to invest in commercial ventures,” said U.S. Attorney Trent Shores. “Our next step is to hold this white collar criminal accountable in a court of law, and we are prepared to do so.”
Mulder faces a maximum penalty of 30 years in prison and fines of twice the amount of loss caused by his actions, if convicted at trial.
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