Phoenix Real Estate Investor Pleads Guilty to $50 Million Mortgage Fraud Scheme
June 23, 2011
Total Loss:
$50 million
Brett Matheson, 46, pleaded guilty on Monday in federal court to conspiracy to commit wire fraud in a $50 million mortgage fraud scheme based in Phoenix. Two others have also entered guilty pleas and are awaiting sentencing. The case against Matheson and his co-conspirators is based on an investigation conducted by the Internal Revenue Service’s Criminal Investigation Division and the Federal Bureau of Investigation. Matheson acknowledged in his guilty plea that as President and CEO of Maricopa Property Investment Solutions, Inc., he recruited straw buyers in real estate seminars.
Source:
FBI