Matthew Dane Billingsley, a 39-year-old resident of Fresno, has pleaded guilty to one count of wire fraud after admitting to defrauding individual lenders and financial institutions out of more than $30 million. The announcement was made by Acting U.S. Attorney Kimberly A. Sanchez.
Court documents reveal that from June 2018 through February 2023, Billingsley falsely claimed to have a brokerage account with millions in assets, which he used as supposed collateral for loans. He provided fake brokerage account statements to secure over $30 million in loans from both individuals and financial entities. Authorities stated that the brokerage account did not exist.
Billingsley also misled lenders about how the borrowed funds would be used, diverting the money instead to pay off previous debts and for personal use. In one instance, he forged a Fresno restaurant owner’s name and signature on a profit-sharing agreement that he created himself. This fraudulent document was then submitted to a financial institution as part of his loan application.
The Federal Bureau of Investigation and IRS Criminal Investigation led the inquiry into Billingsley’s activities. Assistant U.S. Attorney Brittany M. Gunter is prosecuting the case.
Sentencing is set for November 10, 2025 before U.S. District Judge Jennifer L. Thurston. Billingsley could face up to 20 years in prison and a fine of $250,000 if given the maximum penalty allowed by law. The actual sentence will be determined by the court based on statutory factors and federal guidelines.
“The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables,” according to information released by authorities.
