Date: May 29, 2025
Contact: [email protected]
HOUSTON — A woman has admitted to acting as a loan borrower on millions of dollars in fraudulent loans as part of a large-scale bank fraud scheme, announced U.S. Attorney Nicholas J. Ganjei.
Jennifer Williams admitted that from 2016 to 2021, she conspired with others in a bank fraud scheme involving dozens of loans totaling at least $10 million in fraudulent proceeds.
As part of the plea, Williams acknowledged submitting loan applications with false income information along with fraudulent tax returns and financial statements. She also admitted using proceeds from the scheme to buy a home in the Houston area.
Williams and others accomplished the bank fraud by preparing loan applications that contained false and fraudulent information and documents, including fake equipment sales invoices, income tax returns and financial and bank statements.
U.S. District Judge Keith Ellison will impose sentencing Aug. 14. At that time, Williams faces up to five years in federal prison and a possible $250,000 fine or twice the amount involved in the transaction.
She was permitted to remain on bond pending that hearing.
Another Houston resident charged in the case - Hugo Villanueva is considered a fugitive, and a warrant remains outstanding for his arrest. Anyone with information about his whereabouts is asked to contact the FBI at 713-693-5000.
IRS Criminal Investigation, the Federal Housing Finance Agency - Office of Inspector General (OIG), FBI and Federal Deposit Insurance Corporation - OIG conducted the investigation. Assistant U.S. Attorney Belinda Beek is prosecuting the case.
IRS-CI is the criminal investigative arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money-laundering, public corruption, healthcare fraud, identity theft and more. IRS-CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a 90% federal conviction rate. The agency has 20 field offices located across the U.S. and 14 attaché posts abroad.