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Ex-nonprofit director accused of embezzling millions in fraud scheme: indictment

By Nic Flosi
Published  December 18, 2024 3:39pm CST
Crime and Public Safety
FOX 32 Chicago

The Brief

    • William Schneider, 54, is accused of embezzling millions from a nonprofit serving low-income residents and seniors.
    • Federal charges include wire and mail fraud for misusing funds, property, and soliciting bribes.
    • Each count carries a potential 20-year prison sentence if convicted.

CHICAGO - An Antioch man who led a nonprofit organization focused on affordable housing is facing federal fraud charges for allegedly embezzling millions of dollars in cash and real estate interests.

William Schneider, 54, served as the executive director of a Chicago-area nonprofit that supported low-income residents and senior citizens in Illinois and Florida. Between 2018 and 2022, prosecutors say Schneider transferred cash and property from the organization to himself, disguising the fraud with falsified documents.

One scheme involved a senior living facility in Northlake, where Schneider allegedly assigned the nonprofit's cellphone tower lease rights to his own company without compensation. He then sold those rights to a real estate firm for $500,000, according to the indictment.

Prosecutors also claim Schneider solicited kickbacks from brokers and architects working on the nonprofit’s projects and attempted to take complete financial control of a senior living facility in Calumet Park that the nonprofit owned.

The indictment includes five counts of wire fraud and two counts of mail fraud, each carrying a possible sentence of up to 20 years in prison.

Schneider’s arraignment in U.S. District Court in Chicago has yet to be scheduled.

The Source: The information in this article was provided by the U.S. Attorney's Office, Northern District of Illinois.

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