Madison Couple Indicted on Federal Wire Fraud and Money Laundering Charges
|U.S. Attorney’s Office February 13, 2012|
JACKSON, MS—Demetrius Mathis, 49, and Jacqueline Mathis, 45, husband and wife from Madison, Mississippi, have been arraigned on a federal indictment charging Demetrius Mathis with two counts of federal wire fraud, and charging both Demetrius and Jacqueline Mathis with one count of money laundering, U.S. Attorney John Dowdy and FBI Special Agent in Charge Daniel McMullen announced.
The indictment alleges that, from May 2009 through August 2009, Demetrius Mathis carried out a scheme to defraud two individuals from Norway relating to a real estate investment purchase from a company owned and operated by Demetrius and Jacqueline Mathis named Cash Flow Investments Services, LLC. The Norwegians wired Demetrius Mathis approximately $25,000.00 based upon Mathis’ representation that this money would be applied toward the purchase of an apartment complex in Arkansas. However, according to the indictment, Demetrius and Jacqueline Mathis instead spent the money for their own use to the detriment of the Norwegian real estate investors, while offering false assurances to the investors about the status of their investment.
The case has been set for trial on April 2, 2012 before U.S. District Judge Henry T. Wingate. If convicted on all counts of the indictment, Demetrius Mathis faces a maximum penalty of 70 years in federal prison. If convicted on count three of the indictment, Jacqueline Mathis faces a maximum penalty of 10 years in federal prison.
The Federal Bureau of Investigation conducted the criminal investigation and the prosecution is being handled by Assistant United States Attorney Carla J. Clark.
The public is reminded that, as in any criminal case, a person is presumed innocent until and unless proven guilty. The charges filed merely contain allegations of criminal conduct.