Hernando man accused of wire fraud

Associated Press - November 6, 2009 6:24 AM ET

MEMPHIS, Tenn. (AP) - A federal grand jury has returned a 31-count indictment against a Hernando man accused of diverting more than $10 million from his Memphis employer's bank account. The U.S. Attorney for the Western District of Tennessee says the money was used to purchase jewelry, cars, and real estate.

The indictment charges Walter Thomas Williams III with 31 separate counts of wire fraud. Williams is accused of diverting the money between March 2008 and October 2009 into three separate personal accounts which the he had opened in Tennessee, Mississippi and Georgia.

If convicted, Williams faces up to 20 years in prison and a $250,000 fine on each count.

Information from: The Clarion-Ledger, http://www.clarionledger.com