$3 million investment fraud alleged against Kansas City man
A federal grand jury indictment returned Wednesday accuses a Kansas City man of defrauding a business investor out of more than $3 million.
Over a nine-year period, John Clifford Williams obtained more than $8.6 million from the investor for a variety of business ventures, including Central American gold and manganese mines, according to the indictment.
But according to the allegations, Williams, 65, misappropriated nearly $3.3 million of the investor’s money, using it for personal expenses, including to pay for his daughter’s wedding.
He also allegedly invested money in other business ventures unrelated to the projects that the investor, identified in court documents as JM, had provided money for.
The indictment in U.S. District Court in Kansas City charges Williams with 10 counts of wire fraud and four counts of money laundering.
It also seeks the forfeiture of any property and money that Williams allegedly obtained illegally.
Tony Rizzo: 816-234-4435, @trizzkc
This story was originally published June 29, 2016 at 3:47 PM with the headline "$3 million investment fraud alleged against Kansas City man."