Man Pleads Guilty of Mortgage Fraud, Gets 26 Years in Prison
November 30th, 2007 amy
Matthew Bevan Cox, who pleaded guilty to a mortgage fraud scheme that affected over 100 people, was sentenced to more than 26 years in prison in federal court in Atlanta earlier this month, the Associated Press recently reported. In addition to the prison term followed by five years of supervised release, Cox was ordered to pay $5.9 million in restitution and to forfeit $6 million in property.
Per the Associated Press, federal prosecutors said, “The Cox victims include innocent homeowners, individual lenders, corporate lenders, banks, title companies, closing attorneys and those whose identity was stolen.”
Cox’s identity theft efforts were complex and included going to court to change the name of one of his scheme’s victims. He stole the identities of nearly 50 adults and 8 minors. Cox reportedly stole identities by conducting what he called “federal surveys” of homeless people and drug rehab patients to get their personal information.
After stealing the identities, he got fake drivers licenses, opened fraudulent bank accounts and mail boxes, and secured mortgage loans.
According to the Secret Service, Cox used at least 10 aliases and may have had plastic surgery to alter his appearance.
