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.
Schwartz allegedly stole and laundered money from November 2014 through May 2019, when one of the organizations became suspicious, the DA’s office said in a news release.
In January 2012, Schwartz had been elected treasurer, a volunteer position, to one of the organizations, according to the indictment. A year later, he was hired by the other organization as a bookkeeper and building manager. A DA’s investigator discovered the alleged theft from the second charitable organization in February 2022.
Both of the organizations, which were not identified, rely on donor funding.
In 2014, Schwartz incorporated two companies in Colorado, Yolo Holdings Inc. and Trowel Foundation Inc., which he allegedly used to steal and launder money, according to the indictment. He also allegedly used an investment account with a financial services company and a credit card account as part of the scheme, prosecutors said.
“Schwartz unlawfully, feloniously, and knowingly, without authorization or by threat of deception, obtained, retained or exercised control over, or knowing or believing it to have been stolen, received, loaned money by pawn or pledge,” according to the indictment.
Schwartz was arrested on April 21 and he is scheduled to be arraigned on June 9.
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