Maurice E. Bethea, who previously plead guilty in connection with his participation with several other individuals in an investment and mortgage fraud scheme perpetrated by Alexis Enterprises, LLC, was sentenced to 18 years in prison and ordered to pay approximately $2.5 million in restitution. Bethea is the final defendant to be sentenced in connection with the Alexis Enterprises fraud scheme. (Previously, Charlotte, North Carolina attorney James (“Jay”) E. Ferguson pled guilty to a single count of conspiracy as a result of his participation in the fraudulent business affairs of Alexis Enterprises.)

Bethea’s sentence is believed to be one of the longest sentences ever imposed in the Charlotte, North Carolina district for mortgage fraud. The Bill of Indictment alleged that, while serving as an employee of Alexis Enterprises, Bethea solicited investors in the company based on the false representation that the invested funds would be used to purchase real estate. In fact, Alexis Enterprises did not purchase a single piece of real estate. Instead, the Indictment alleges, Bethea arranged for third-parties to purchase real estate in their own names through the use of fraudulent mortgage loan applications. After the closing, Bethea would receive a portion of the mortgage loan proceeds.

Bethea and his co-conspirators then spent the proceeds of their fraud schemes to finance an extravagant lifestyle, paying for illicit acts, exotic dancers, tailor-made suits, expensive dinners, vacations, cigars, and lavish parties with Alexis investor funds.