Individual Sentenced for Defrauding Local Businesses
|U.S. Attorney’s Office October 11, 2010|
MEMPHIS, TN—Walter Thomas Williams, III, a Hernando, Mississippi resident, was sentenced today to a period of 10 years’ imprisonment by the Honorable Samuel H. Mays, United States District Judge, announced Edward L. Stanton, III, United States Attorney for the Western District of Tennessee. Defendant Williams was also ordered to pay restitution in excess of $10 million to his victims. Earlier this year, the Defendant pled guilty to violations of Title 18, United States Code, Section 1341 [Mail Fraud] and Section 1343 [Wire Fraud]. Williams diverted in excess of $10 million from two of his Memphis employers’ bank accounts. According to the Indictment and Criminal Information , Williams’ schemes to defraud occurred between January, 2005 and October 2009. The Defendant used the stolen funds to obtain both personal property and real estate. Items purchased by Williams included a 2010 Land Rover, 2009 Land Rover, two 2010 Jaguars, 2009 Porsche, two 2009 Mercedes Benz, Aston Martin V-8 Roadster, 2009 Cadillac Escalade, 2008 Ford Expedition, 2009 Ford F-150 Truck, 2009 Chevrolet Silverado truck, 2006 Honda Motorcycle, 2007 Honda ATV, 2009 Can-Am Spyder, trhee-wheeled motorcycle, in excess of $700,000.00 in jewelry, and seven parcels of real property located in Mississippi and Georgia.
Mr. Stanton stated, “Our office is committed to enforcing federal laws regarding those who, for their own greed, would embezzle from, and betray the trust of, their employees. Such crimes have a devastating effect on businesses and the public in general, especially in these times of economic hardship.”
“This sentence is the culmination of many months of investigation and significant coordination between the FBI and federal prosecutors,” said Amy S. Hess, Special Agent in Charge of the Memphis Division of the Federal Bureau of Investigation. “The result of their efforts should stand as a warning to those who may be tempted to seek profit through theft and deceit.”
The offenses were investigated by the Memphis Division of the Federal Bureau of Investigation. Assistant U.S. Attorney Dan L. Newsom and Assistant U.S. Attorney Christopher Cotten handled these cases on behalf of the United States Attorney’s Office.