Tulsa man charged with defrauding banks, investors of $5M

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TULSA, Okla. (KFOR) – A Tulsa man was charged last week in federal court with defrauding five federally-insured financial institutions and two investor families of more than $5 million.

61-year-old William Mulder, of Tulsa, is charged with 26 counts of bank fraud, 41 counts of causing the interstate transmission of moneys taken by fraud, and five counts of engaging in unlawful monetary transactions.

Mulder allegedly repeatedly represented himself to banks and investors as a person of high net worth who owned and controlled assets that did not exist.

According to the U.S. Attorney’s Office, Mulder “pledged these assets as collateral for loans and lines of credit that totaled approximately $4 million. Among the phony assets were life insurance policies that Mulder represented to have been worth hundreds of thousands of dollars.”

Mulder was also charged with having fraudulently obtaining more than $1 million from investors.

He allegedly told the investors that they could invest through his own family trust and also “in specific ventures,” such as the financing of a doctor’s home that Mulder claimed was being built in Missouri.

An indictment alleges that the purported investment opportunities were fake and Mulder used the funds for his own purposes.

If convicted, Mulder faces a maximum of 30 years in prison and fines of twice the amount of loss caused by the incident.

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