Matthew Dane Billingsley, 39, of Fresno pleaded guilty to wire fraud in a $30 million scheme involving fake brokerage accounts, forged documents, and misuse of loan funds. (Reuters File)
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A Fresno man pleaded guilty Monday to wire fraud in a scheme that defrauded lenders and financial institutions out of more than $30 million, federal prosecutors said.
Matthew Dane Billingsley, 39, admitted to fabricating brokerage account statements and misrepresenting loan purposes between June 2018 and February 2023, according to the U.S. Attorney’s Office.
Prosecutors said Billingsley falsely claimed to have millions in assets to secure loans and used forged documents — including a fake profit-sharing agreement with a Fresno restaurant owner — to obtain funds.
Instead of using the loans as promised, he used the money to pay off earlier debts and for personal expenses, officials said.
The FBI and IRS Criminal Investigation led the investigation. Assistant U.S. Attorney Brittany M. Gunter is prosecuting the case.
Billingsley faces up to 20 years in prison and a $250,000 fine. Sentencing is set for Nov. 1.
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