Tulsa man convicted of defrauding investor, banks out of millions – FOX23 News


TULSA, Okla. – A man who defrauded an investor and two banks out of at least $8.4 million was convicted in federal court on Wednesday, U.S. Attorney Clint Johnson said in a news release.

Chief U.S. District Judge John F. Heil III sentenced William Brian Mulder, 64, of Tulsa to 84 months in federal prison followed by 3 years of supervised release. He was also ordered to pay $4.5 million in damages to the investor and $3.9 million in damages to Firstar Bank and BancFirst.

“William Mulder presented himself as a successful investor, trusted mentor, and friend, but that was window dressing. Instead, he was a crook who defrauded his friends and banks for years in an effort to maintain a lifestyle beyond his or her means,” said U.S. Attorney Clint Johnson. “This 7-year sentence reflects the flagrant nature of the defendant’s long-standing criminal deception. law enforcement are to be commended for exposing Mulder’s elaborate web of lies and bringing justice to the victims in this case.

“On October 19, 2021, Mulder pleaded guilty to causing interstate transmission of fraudulent money and money laundering. He was due to start his trial at the time, but chose to plead guilty instead.

According to court documents, Mulder misrepresented himself as being worth millions to friends. Mulder told several people that a wealthy Missouri widow left him over $100 million in a blind trust in recognition of his services as an insurance salesman for the widow. In another story, he said he was the beneficiary of a different blind trust worth hundreds of millions of dollars from his father. Mulder convinced his friends that if they pooled their investments with his fortune, they could grow their money faster. The government claimed there was no investment made by Mulder on their behalf, but instead Mulder deposited checks into his personal bank accounts and used the funds to pay off credit card debt and manage a chain of cafes.

To cover their tracks, Mulder created a web of convoluted rules and restrictions to prevent victims from seeing the progress of their investments. He also moved money between more than 60 bank accounts to make it difficult for investors and law enforcement to track the money.

In his plea agreement, Mulder specifically admitted that beginning in 2000 and continuing through 2017, he received numerous checks totaling approximately $4.5 million from the investor, who was a businessman. local business and friend of Mulder. Mulder advised the victim to create a trust for his son with special needs, of which Mulder would be the trustee and have complete discretion and control. Mulder told the victim he would prudently invest the funds in the son’s name. Instead, Mulder used the funds for his own personal expenses and to enrich himself.

Mulder also admitted that in December 2015 he fraudulently received a check from the victim in the amount of $142,500 and deposited funds from the check in the amount of $83,378.54 into his personal account, which he then used for a personal investment in generators in Missouri.

Additionally, Mulder admitted that he lied about his assets and submitted fabricated documents to obtain loans from Oklahoma banks to support a lifestyle he could not afford on his own.

Prosecutors claimed Mulder applied for and received loans worth millions of dollars from five banks. From 2004 to 2014, Mulder obtained the loans by promising false guarantees which included fictitious life insurance policies allegedly issued by Merrill Lynch which appeared to insure Mulder and his family members. Mulder used the same bogus font numbers with each new bank he scammed, adding new bogus fonts as he went. To secure each loan, he provided the banks with the same types of fabricated records and documents. On some of the documents, Mulder forged the signature of a former Merrill Lynch colleague. Mulder was able to repay three of the banks by obtaining new loans from other banks. In the end, two banks – Firstbank and BancFirst – suffered losses of around $3.9 million.

Prosecutors claimed that Mulder further attempted to obstruct the federal investigation into his criminal conduct by fabricating a story accusing one of his bankers of creating the fictitious life insurance policies on behalf of Mulder and the members of his family. Officers debunked the allegation based on evidence that Mulder began his scheme long before he met the accused banker.

Mulder has been taken into the custody of the US Marshals Service and will be transferred to a Federal Bureau of Prisons facility.


About Author

Comments are closed.