DENVER — Criminal investigators believe a man who was employed by the El Jebel Shrine Association secretly pilfered more than a million dollars in donations from that organization and the Shriners Hospital for Children for more than four years.
A grand jury indicted William Carl Schwartz, 43, on felony counts of:
- Theft - $1 million or more
- Money laundering - Transfer/conceal
- Theft - $100,000 to $1 million
9NEWS obtained court documents that reveal Schwartz was employed by the El Jebel Shrine Association as a bookkeeper and building manager who was responsible for handling donations to the charity. He was hired for that job in 2013.
Over a period of nearly five years, from November 2014 until May 2019, investigators accuse Schwartz of moving Shriners money, much of it donations, into several personal financial accounts including one entity called “YOLO Holdings.”
"YOLO" is an internet acronym that means “you only live once,” and is often used to express to someone that they should take a thrilling risk without concern of the consequences.
Schwartz is accused of using the money to pay for a car, RV, watercraft and personal credit cards.
The organization found suspicious bank activity occurring and reported it, the Denver District Attorney's Office said.
The total amount he’s accused of embezzling is $1,548,000.
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