Ronald “Wayne” Schroeder, a former executive with a Bank of San Antonio subsidiary, heads into federal court on August 25.
William Luther, Staff Photographer / Staff photographerA former San Antonio bank executive Ronald “Wayne” Schroeder, 49, will serve 97 months in federal prison for a fraud scheme that cost the Bank of San Antonio over $13 million. Schroeder’s sentence was handed down on Thursday, August 25, the Express-News reported, after he pled guilty to conspiracy to commit bank fraud in December.
Schroeder netted himself almost $3.2 million by submitting fraudulent invoices to the bank for a fake company that he created. The funds he obtained were used to buy a beach house, an airplane, a boat, and vehicles. The bank also told the courts that Schroeder orchestrated a $13.2 million Ponzi scheme.
The Express-News reported that Schroeder told the sentencing judge on August 25 that he was “embarrassed” to stand before him.
“It’s not who I am. It’s not how I was raised,” Schroeder said. “I’ve done my family and friends a great amount of harm by my actions.”
The courts dropped three counts of bank fraud and a single count of conspiracy to commit money laundering when he pled guilty. After his prison sentence, Schroeder must also pay…
