In this clip, Matthew Cox opened up about being caught with $2 million in bad loans from Pinnacle Bank Corp., and the bank sweeping it under the rug and knowing it was fraud. He went on to speak about the FBI estimating that his company had $40 million in bad loans, which Matthew said he was re-investing and added that the money was always fluxuating due to the nature of the real estate market and flipping homes. Matthew also detailed how his former employee got caught in a scam and wore a wire to testify against him, which led to Matthew getting 3 years probation. Instead of switching careers, Matthew said that he decided to go “full fraud,” and he devised a way to come up with fake identities to get loans. To hear more, including how he pleaded guilty to the FBI to save his wife, hit the above clip.
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