Suburban Chicago Man Charged With Embezzling Millions From Nonprofit Organization

CHICAGO - The former Executive Director of a Chicago-area nonprofit organization has been indicted on federal fraud charges for allegedly embezzling millions of dollars in cash and real estate interests belonging to the organization.

WILLIAM SCHNEIDER served as executive director of a nonprofit organization that developed and provided affordable housing to low-income residents and senior citizens in the Chicago area and Florida. From 2018 to 2022, Schneider fraudulently transferred cash and real estate interests from the nonprofit to himself, concealing the fraud by fabricating documents that falsely reflected the transfers had been authorized, according to an indictment returned Tuesday in U.S. District Court in Chicago. The real estate interests included the rights to use the roof of a senior living facility owned by the nonprofit in Northlake, Ill., as a location for a cell phone tower, the indictment states. In early 2022, Schneider caused the nonprofit to assign its interest in a cell phone tower lease to a company owned and controlled by Schneider, in exchange for no money or other consideration, the indictment states. Shortly thereafter, Schneider sold the interest in the roof to a third-party real estate company for approximately $500,000, the indictment states.

The charges also allege that Schneider solicited and obtained kickbacks or bribes from brokerage and architectural firms retained by the nonprofit for development projects in Illinois and Florida. Schneider also schemed to take complete financial control of a senior living facility in Calumet Park, Ill. that had been owned and developed by the nonprofit, the charges allege.

The indictment charges Schneider, 54, of Antioch, Ill., with five counts of wire fraud and two counts of mail fraud. Arraignment in U.S. District Court in Chicago has not yet been scheduled.

The indictment was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI. The government is represented by Assistant U.S. Attorney Corey B. Rubenstein.

Each count in the indictment is punishable by up to 20 years in federal prison. The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.