Canyon Lake man accused of defrauding banks, using money for Port A beach house and luxury items

SAN ANTONIO – A Canyon Lake man was sentenced after pleading guilty to defrauding financial institutions in San Antonio and using the money for personal expenses like a Port Aransas beach house and a $100,000 pool, according to federal authorities.

Ronald Wayne Schroeder, 49, on Thursday was sentenced to 97 months in prison and ordered to pay more than $8.9 million in restitution. He was also ordered to pay a $2.9 million money judgment.

A news release from the Department of Justice states that Schroeder and four other co-defendants were part of a scheme that included factoring false and fraudulent invoices.

“Factoring is when a company sells specific accounts receivable to a third party at a discounted price to accelerate its cash flow,” the release states. “Schroeder used fraud and deceit to factor false invoices for companies owned by his co-defendants.”

He factored the invoices with Southwest Bank and Bank of San Antonio. Authorities said the co-defendants then used the money for “personal enrichment” or to pay off old invoices, such as a Ponzi scheme.

The co-defendants included Ryan Martinez, 58, and Phyllis Joe Martinez, 80, both of San Antonio who owned Nerd Factory; and Jill Martin Alvarado, 60, of Irving, and Rigo Alvarado, 57, of Barstow, who owned Alvy Logistics.

Some of the money that Nerd Factory and Alvy Logistics received in the factoring was sent to Schroeder. The release adds that Ryan and Phyllis Martinez later used that money to pay their legal fees.

Schroeder also created a fake company called Republic Logistics “to steal money for himself,” the release states.

“In addition to using false and fraudulent invoices for actual companies, Schroeder submitted the fake invoices from Republic Logistics to BOSA for payment,” the release states. “Schroeder then used this money to purchase expensive items, such as cars, RVs, an airplane, boat, and a beach house as well as $50,000 in landscaping and the installation of a $100,000 pool.”

The items, including a Port Aransas home and Shelby Mustang, were either seized or forfeited.

He pleaded guilty to one count of conspiracy to commit bank fraud in December. His four co-defendants also pleaded guilty to the same charge, and Phyllis Martines and Jill and Rigo Alvarado were sentenced to prison.

Ryan Martinez has yet to learn his sentence.

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