Factoring Program Lands Canyon Lake Man In Jail With Big Refund And Forfeited Property | USAO-WDTX


SAN ANTONIO — A Canyon Lake man was yesterday sentenced to 97 months in prison and over $8.9 million in damages for his role in a plot to defraud several financial institutions in San Antonio. He was also ordered to pay a $2.9 million judgment for proceeds from his criminal activity.

According to court documents, Ronald Wayne Schroeder, 49, along with his co-defendants, Jill Martin Alvarado, 60, of Irving; Rigo Alvarado, 57, from Barstow; Ryan Martinez, 58, of San Antonio; and Phyllis Joe Martinez, 80, of San Antonio, conspired to cheat various financial institutions out of money by factoring false and fraudulent bills. In factoring, a company sells certain receivables to third parties at a reduced price in order to accelerate its cash flow.

Schroeder used fraud and deception to fabricate false bills for companies owned by his co-defendants. Schroeder would factor these bogus bills with Southwest Bank and Bank of San Antonio (BOSA). Schroeder and other co-conspirators would then use that money for their own personal gain or to pay off old bills owed to the financial institutions, similar to a Ponzi scheme where money from new investors is used to pay old investors.

Three companies involved in the program were: Nerd Factory, owned by Ryan Martinez and later Phyllis Martinez; Alvy’s Logistics, owned by Jill and Rigo Alvarado; and Republic Logistics, a fake company created and used by Schroeder to steal money for himself. According to the court filings, false and fraudulent invoices from Nerd Factory were factored by Southwest Bank and then Bank of San Antonio. This money would then be used by Nerd Factory owners Ryan Martinez and later Phyllis Martinez for legal fees in a pending federal criminal case or as unearned profit. Alvy’s Logistics and Nerd Factory also sent some of the money it received back to Schröder.

In addition to using false and fraudulent invoices for real companies, Schroeder submitted Republic Logistics’ fake invoices to BOSA for payment. Schroeder then used that money to buy expensive items such as cars, RVs, an airplane, a boat, and a beach house, as well as $50,000 towards landscaping and the installation of a $100,000 pool. In its foreclosure proceedings, the United States seized and forfeited several items, including a Shelby Mustang and proceeds from the sale of property in Port Aransas, and sold Schroeder’s interest in a single-engine Columbia airplane.

On December 9, 2021, Schroeder pleaded guilty to one count of conspiracy to commit bank fraud.

“Today’s conviction demonstrates our office’s aggressive prosecution and prosecution of fraud against financial institutions,” said Assistant U.S. Attorney Kristy Callahan. “This type of fraud hurts the economy and ultimately the consumer. Together with our law enforcement partners, this office will hold those perpetrators accountable, deprive them of criminal proceeds, and use federal funds to compensate for victim losses.”

Schröder’s co-defendants all pleaded guilty to one count of conspiracy to commit bank fraud. Phyllis Martinez was sentenced to serve time and ordered to pay $289,984 in damages; Jill Alvarado was sentenced to serve time and ordered to pay $3,904,924.92 in damages; Rigo Alvarado was sentenced to 48 days in prison and ordered to pay $3,904,924.92 in damages; and Ryan Martinez still faces sentencing.

The FBI investigated the case. The US Marshal Service assisted in recovering property from criminal proceeds.

Assistant US Attorney Joseph E. Blackwell prosecuted the case. Assistant US Attorney Fidel Esparza III conducted the forfeiture proceedings.



Comments are closed.