Saturday, June 3, 2023

Man allegedly stole $1.5 million from two Denver charities over a four-year period

Man allegedly stole $1. 5 million from two denver charities over a four-year period

A man who allegedly stole more than $1.5 million from two charitable organizations in Denver has been charged with theft and money laundering.

William “Bill” Carl Schwartz, 43, has been indicted by a Denver grand jury, according to the Denver District Attorney’s Office.

The DA’s office said in a news release that Schwartz allegedly stole and robbed money from November 2014 to May 2019, when one of the organizations became suspicious.

According to the indictment, in January 2012, Schwartz was elected treasurer for an organization, a volunteer position. A year later, he was hired by another organization as an accountant and building manager. A DA investigator discovered the alleged theft from another charitable organization in February 2022.

Both organizations, which were not identified, rely on donor funding.

According to the indictment, in 2014, Schwartz incorporated two companies in Colorado, YOLO Holdings Inc. and Trowell Foundation Inc., which he allegedly used to steal and launder money. Prosecutors said he also allegedly used an investment account with a financial services company and a credit card account as part of the scheme.

According to the indictment, “Swartz illegally, felony and knowingly, without authorization or threat of deception, obtained, retained or exercised control, or knowing or believing that theft, obtained, pawned or Money has been borrowed by pledge.”

Schwartz was arrested on April 21 and is due to be produced on June 9.

World Nation News Desk
World Nation News Desk
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