A Southlake man has been sentenced to nearly a decade in federal prison for his involvement in a wire fraud scheme that targeted small businesses seeking loans. William Thomas Engle, 68, received a nine-year sentence on July 30 after pleading guilty to one count of wire fraud, as announced by the U.S. Department of Justice.
Between 2020 and 2022, Engle, a former attorney, operated a fraudulent scheme where he promised small businesses multi-million-dollar loans in exchange for upfront payments. Victims reported transferring more than $2 million to Engle, who provided fake bank statements to convince them their loans were forthcoming. Instead, he fabricated excuses to explain the delays in funding.
Engle misappropriated the funds for his personal gain, using the stolen money to purchase luxury items, including a yacht, vehicles, and jewelry. Upon his sentencing, he was ordered to forfeit these acquired assets.
Initially charged in September 2025 with multiple offenses, including wire fraud and money laundering, Engle’s case went to trial in 2026. However, after just two days of testimony, he chose to plead guilty to wire fraud.
U.S. Attorney Ryan Raybould commented on the case, stating, “William Engle built an elaborate scheme that preyed on small business owners seeking legitimate financial help. These victims were working to build their futures, and instead of the promised support, Engle fed them repeated lies and forged documents while siphoning off millions from them to fuel his own greed. This sentence demonstrates our commitment to protecting the public and holding accountable those who defraud Main Street Americans.”
