A Fresno resident has admitted to a wire fraud scheme that led to over $30 million in losses for individual lenders and financial institutions. Matthew Dane Billingsley, 39, entered a guilty plea on Monday to one count of wire fraud, according to Acting U.S. Attorney Kimberly A. Sanchez.
Prosecutors stated that from June 2018 through February 2023, Billingsley falsely claimed he held a brokerage account containing millions of dollars, which he used as collateral to secure loans. He submitted fake brokerage account statements as part of the process and misled both individual lenders and financial institutions about how the borrowed money would be used. Instead of using the funds as promised, authorities said Billingsley applied them toward paying down previous loans and for his personal expenses.
In one instance, officials allege that Billingsley forged the name and signature of a Fresno restaurant owner on a profit-sharing agreement he created himself. This document was then used in an application to obtain another loan from a financial institution.
The case was investigated by the Federal Bureau of Investigation and IRS Criminal Investigation. Assistant U.S. Attorney Brittany M. Gunter is prosecuting.
Billingsley’s sentencing is set for November 10, 2025 before U.S. District Judge Jennifer L. Thurston. He could face up to 20 years in prison and a fine reaching $250,000; however, any final sentence will depend on court discretion and federal guidelines after weighing relevant factors.
“Billingsley gave fabricated brokerage account statements to obtain more than $30 million in loans from individual lenders and financial institutions,” Acting U.S. Attorney Kimberly A. Sanchez said in the announcement.
“Billingsley also misrepresented to individual lenders and financial institutions the intended use of the loan funds and instead used the money to pay down previous loans and for his personal benefit,” Sanchez added.
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