Real Estate Professional Pleads Guilty in Mortgage Scheme

Alexander Matthews plead guilty to fraud charges in a mortgage scheme that spanned the last seven years, 3 mortgages, straw borrowers and real estate investors for a total bill of some $11.5 million in mortgages.

The attention came when Matthews defaulted on the 3 loans, and investigation followed to uncover the fraudulent activity. Matthews is scheduled for sentencing on September 30th, and faces up to 30 years for bank fraud, and 20 years for wire fraud.

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