Everett Craig Williams of Round Rock was indicted by a Nueces County Grand Jury on Dec. 15 on one charge of securities fraud for allegedly selling investment agreements issued by Favor Ministries Inc. without telling investors he owes more than $5 million in civil judgments and tax liens.
Williams raised at least $170,000 from three Texas investors. He sold investment contracts, promissory notes, and other debt in a program intended to profit from real estate transactions.
According to the indictment, Williams did not inform investors that he was using their money to pay personal expenses and that previous investors in the Favor Ministries program had lost significant amounts of money.
Williams failed to disclose at least seven civil judgments entered against him in Texas state courts, totaling $2.6 million; a notice of a child support lien filed by the office of the Texas Attorney General; and judgments totaling $2.8 million in the Bankruptcy Court for the Southern District of Texas.