Ex-Houston Livestock Show and Rodeo VP faces federal prison for committing $2.8 million wire fraud

HOUSTON, Texas (KTRK) -- Former RodeoHouston vice president Michael Wayne Galvan was sentenced to 27 months in federal prison for a multimillion-dollar wire fraud.

Galvan was found guilty of conspiracy to commit wire fraud during his tenure under one of the city's largest events, according to U.S. Attorney Alamdar S. Hamdani.

On Friday, the FBI announced he was sentenced to federal prison after committing $2.8 million in wire fraud.

Federal court documents show that Galvan's sentencing includes a three-year supervised release term imposed, a $100 special assessment, fine waived, and restitution in the amount of $2,878,661.30.

A three-count indictment accuses Galvan of reportedly operated as a high-end contractor under MWG Ventures LLC doing business as MGB Builders.

Officials said from February 2016 until March 2018, Galvan used his position within the rodeo to find his victims. He would allegedly solicit short-term loans by offering the chance to earn interest through his contracting business.

Galvan, who was arrested in 2023, reportedly told the victims that he would purchase granite and exotic tiles from China and various overseas locations for his company.

The former VP hauled in nearly $2.8 million from multiple victims, who were private investors. As part of a plea deal, Galvan admitted to not using the money as he intended. According to the indictment, the money was used to repay loans and interest to other lenders.

On Friday, counts one and three were dismissed on the government's oral motion and Galvan was advised of his appellate rights.

He was ordered to self-surrender when designated by the Bureau of Prisons. Records show that the Court recommended Galvan be placed in a facility as close to Houston as possible.

In 2023, the Houston Livestock Show and Rodeo stated that Galvan had not been affiliated with the organization since 2019.