Industry News

Mortgage fraud spree nets 26-year prison sentence

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Matthew Bevan Cox, who eluded authorities for nearly three years before pleading guilty in April to mortgage fraud charges in three states, has been sentenced to 26 years in prison and ordered to pay $5.9 million in restitution to more than 100 victims. Cox, 37, and his accomplice, Rebecca Marie Hauck, were dubbed "The Bonnie and Clyde of mortgage fraud" for a string of crimes involving identity theft and mortgage fraud in several states including Tennessee, Georgia and Florida. In the Nashville area, prosecutors said, Cox contracted to buy approximately two dozen homes using stolen identities or straw borrowers, obtaining multiple mortgage loans on the properties at inflated values. Cox would conduct bogus "federal surveys" of the homeless and drug rehab patients, obtaining personal information to obtain drivers licenses and state identification cards, lease mail drops, open bank accounts, obtain mortgage loans and apply for a passport used for travel to Greece while he was a federa...