San Antonio CEO pleads guilty to $69.5M fraud in real estate scheme

February 19, 2026 - 09:10

A prominent San Antonio chief executive officer has entered a guilty plea for his central role in a sophisticated real estate investment scheme that defrauded victims of tens of millions of dollars. The executive pleaded guilty to one count of conspiracy to commit wire fraud, a charge that carries a potential maximum sentence of twenty years in federal prison.

According to court documents, the fraudulent operation involved the solicitation of funds from numerous investors for the purported development of real estate projects. Instead of using the capital as promised, the CEO and his co-conspirators diverted the money for unauthorized personal and business expenses. The elaborate scheme resulted in total investor losses estimated at approximately $69.5 million.

The guilty plea marks a significant development in a lengthy federal investigation. Sentencing for the executive is scheduled for a later date, where a federal district court judge will determine the final penalty after considering U.S. sentencing guidelines and other statutory factors. The case underscores ongoing efforts by federal authorities to combat complex financial crimes targeting investors in the real estate sector.