HOUSTON – A 61-year-old Houston contractor has pleaded guilty to conspiracy to commit wire fraud, admitting he defrauded investors of millions of dollars, U.S. Attorney Alamdar S. Hamdani announced.
Michael Wayne Galvan, who operated under MWG Ventures LLC dba MGB Builders, fraudulently obtained over $2.8 million from at least six private investors through a material scheme. Galvan, a high-end contractor specializing in granite and tile work for hotels and apartments, solicited short-term loans from individuals, falsely promising lucrative returns of 10 to 12 percent interest.
