Woman accused of embezzling nearly $16 million from Austin company heads to prison

SAN ANTONIO (KTSA News) – The former Chief Financial Officer for Richardson Enterprises, Ltd. headquartered in Austin has been sentenced to more than 5 years in prison for embezzling nearly $16 million.

Federal prosecutors say Tamra Villarreal, aka Tamra Creighton Villarreal, pleaded guilty in August to wire fraud and making a false income tax return.   The 51-year-old Lakeway woman admitted that from 2009 to January 2018 she embezzled the funds from Richardson accounts and diverted the money to accounts belonging to her and her husband.   The money was used for personal expenditures, including luxury items, hotel stays and restaurant tabs. Law  enforcement officers executing a search warrant at her Lakeway residence in 2018 recovered rare coins, gold bars, expensive watches, jewelry and several firearms.

In addition to 63 months in prison, Villarreal has been ordered to pay $15.9 million in restitution to the Richardson family and $4.2 million in restitution to the IRS.  She’ll be placed on supervised release for three years after completing her prison term.

Villarreal’s former husband, 48-year-old Robert Scott Villarreal, has pleaded guilty to money laundering,  possession with intent to distribute cocaine,  and failure to file a federal income tax return. Sentencing is scheduled in January.

Richardson Enterprises has automobile dealerships in Arizona, New Mexico and Texas.