FORT WORTH, Texas — A Southlake man was sentenced to nine years in federal prison after admitting he defrauded small-business owners of more than $8 million through a loan scheme, federal prosecutors said.
William Thomas Engle, 68, also was ordered to pay $8.27 million in restitution and forfeit a Jeep Wrangler and several pieces of jewelry, according to the U.S. attorney’s office for the Northern District of Texas.
Prosecutors said Engle, a former attorney, promised business owners that he could help them obtain multimillion-dollar loans if they first deposited money into what he called “good-faith accounts.”…