A Fresno man was sentenced on Monday to seven years and six months in prison for defrauding lenders and financial institutions out of more than $30 million, federal authorities said.

Matthew Dane Billingsley, 40, was convicted of wire fraud for a scheme that spanned nearly five years, during which he falsified brokerage account statements, forged signatures, and misrepresented the intended use of loan funds, prosecutors said.

According to court documents, between June 2018 and February 2023, Billingsley falsely claimed to have a brokerage account with millions of dollars in assets to secure loans. He provided fabricated account statements to obtain more than $30 million from individual lenders and financial institutions.

The statements were false because the brokerage account did not exist, prosecutors said. Billingsley also misrepresented how the loan funds would be used, instead using the money to pay off earlier loans and for his personal benefit.

“The defendant defrauded victims out of millions of dollars. Over nearly five years, he repeatedly and deliberately committed crimes by altering documents, forging signatures, and otherwise lying,” said U.S. Attorney Grant. “This office, together with our law enforcement partners, will continue to aggressively pursue those who defraud victims and threaten our financial system through deceit.”

The investigation was led by the FBI and IRS Criminal Investigation, and the case was prosecuted by Assistant U.S. Attorney Brittany M. Gunter.

—

Connect with Anthony W. Haddad on social media. Got a tip? Send an email.