Fraudulent Loans and the Gray Area of the Real Estate Industry

22min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The chapter discusses the state of the real estate and banking system, highlighting how it is still prone to corruption and fraudulent practices like those seen before the 2008 financial crisis. The speaker questions how many people in the industry operate in this gray area and mentions the prevalence of fraud in bank loans. They also touch on the challenge of finding a balance between preventing manipulation and allowing access to loans for the average person.

Matthew Cox is a former con man who served 13 years in federal prison for bank fraud, mortgage fraud, and identity theft. He is the author of many books, including his memoir Shark in the Housing Pool, and runs the YouTube channel Inside True Crime. Please support this podcast by checking out our sponsors:
– Freud’s Last Session: see it in select theaters
– Babbel: https://babbel.com/lexpod and use code Lexpod to get 55% off
– BetterHelp: https://betterhelp.com/lex to get 10% off
– NetSuite: http://netsuite.com/lex to get free product tour
– LMNT: https://drinkLMNT.com/lex to get free sample pack

Transcript: https://lexfridman.com/matthew-cox-transcript

EPISODE LINKS:
Matthew’s YouTube: https://youtube.com/@InsideTrueCrime
Matthew’s Instagram: https://instagram.com/insidetruecrime
Matthew’s Art Instagram: https://instagram.com/coxpopart
Matthew’s TikTok: https://tiktok.com/@matthewcoxtruecrime
Shark in the Housing Pool (book): https://amzn.to/3S52EEy

PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
Apple Podcasts: https://apple.co/2lwqZIr
Spotify: https://spoti.fi/2nEwCF8
RSS: https://lexfridman.com/feed/podcast/
YouTube Full Episodes: https://youtube.com/lexfridman
YouTube Clips: https://youtube.com/lexclips

SUPPORT & CONNECT:
– Check out the sponsors above, it’s the best way to support this podcast
– Support on Patreon: https://www.patreon.com/lexfridman
– Twitter: https://twitter.com/lexfridman
– Instagram: https://www.instagram.com/lexfridman
– LinkedIn: https://www.linkedin.com/in/lexfridman
– Facebook: https://www.facebook.com/lexfridman
– Medium: https://medium.com/@lexfridman

OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:43) – Mortgage fraud
(23:32) – Creating fake people
(57:17) – Arrested by FBI
(1:14:08) – Omerta: Code of silence
(1:36:26) – Fake ID’s
(2:05:48) – Getting caught
(2:19:12) – Going on the run from FBI
(2:30:54) – Identity theft
(2:51:34) – More scams
(3:03:23) – FBI Most Wanted
(3:05:51) – Close calls
(3:36:46) – Break up with Becky
(3:41:26) – Calling parents
(3:43:25) – Calling FBI
(3:49:06) – Running from cops
(4:10:56) – Getting arrested
(4:26:21) – Snitching
(4:42:35) – Prison
(5:00:08) – War dogs
(5:06:50) – Frank Amodeo
(5:42:21) – Freedom
(5:53:15) – Family
(5:59:19) – Regret