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63-year-old Manchester woman, Robynne Alexander, a former real estate investment coach, has pleaded guilty to one count of wire fraud in federal court. She faces up to 20 years in prison for her role in a real estate investment scheme that defrauded investors out of over $3 million.

    According to the U.S. attorney's office, Alexander started raising funds from her coaching clients in 2018 for a New England real estate venture called Raxx LeMay LLC. She promised to buy and renovate two commercial properties in Manchester but only raised $700,000 of the required $2 million before the deadline.

    Instead of returning investors' money when the minimum amount needed wasn't met, Alexander used it for unauthorized purposes. Court documents show she completed the purchase using hard money loans and diverted funds to repay outside investors and fund other projects. This left Raxx LeMay LLC with no assets and investors with losses of about $850,000.

    Alexander also solicited funds for separate projects, including a Manchester property conversion and a Laconia resort project. In these cases, she misappropriated investor money, causing the foreclosure of one property and the dissolution of another. Across at least eight ventures, Alexander defrauded 24 investors out of over $3 million. She is scheduled to be sentenced in October.