Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409

Last updated: Jan 17, 2024

The video is about Matthew Cox, a con man who was recently released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges. He has written true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime." The video is an interview with Matthew Cox, where he talks about his first crime, which was committing mortgage fraud. He explains how it is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.

This video by Lex Fridman was published on Jan 17, 2024.
Video length: 06:00:54.

The video is about Matthew Cox, a con man who was recently released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.

Cox has written true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime." The video is an interview with Cox, where he discusses his first crime, which was a mortgage fraud. He explains how it is difficult for the average person to commit fraud in the mortgage industry due to the many safeguards set up, such as requiring W2s and bank statements.

Cox discusses how he misrepresented some aspect of his identity in order to commit fraud and how he lied to the bank, which he considers to be a form of fraud.

  • Matthew Cox committed his first crime by committing mortgage fraud.
  • He misrepresented some aspect of his identity to lie to the bank.
  • It is difficult for the average person to commit fraud in the mortgage space because there are many safeguards set up.
  • One needs to have enough of the down payment but not necessarily the closing cost.
  • To close the loan, real estate agents can raise the purchase price and have the seller pay the closing costs.
  • Matthew Cox's first crime evolved into massaging deals.
  • He emboldened himself after committing the first crime and continued to commit fraud.
  • He started to twist the rules and manipulate people's trust.
  • He used his personal relationships to get deals done.

Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 - YouTube

Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 001

Matthew Cox's First Crime

  • Matthew Cox committed his first crime by committing mortgage fraud.
  • It is difficult for the average person to commit fraud in the mortgage space because there are many safeguards set up.
  • To commit fraud in this space, one needs to misrepresent some aspect of their identity.
  • The average person that works at Walmart and makes $60,000 a year and has been there for five years and saved their deposit is the target for these transactions.
  • Matthew Cox had to lie to the bank to commit fraud in this space.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud to make a loan close.
  • His fear was that he would get caught and fired, and wouldn't get paid the money he needed.
  • He was working for a company called Eagle Lending in Tampa, Florida.
  • His manager, Gretchen Zas, eventually went to jail for fraud.
  • Cox trusted his manager and did what she said, even though he knew it was fraud.
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Matthew Cox's Background

  • Cox was in his first month of working for Eagle Lending.
  • He was trying to become a mortgage broker.
  • He had a degree in Fine Arts, which wasn't in high demand.
  • He tried to become an insurance adjuster, but that didn't work out.
  • He ended up working in construction for a few years before becoming a mortgage broker.
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Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 - YouTube

Matthew Cox's Career as a Mortgage Broker

  • Cox was born to do mortgage brokering.
  • He was good at negotiating and putting together deals.
  • He worked for a subprime lender, where options were limited.
  • He negotiated with sellers, but real estate agents typically did more of that work.
  • He was pre-approved for everything, but the loan still didn't close.
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Matthew Cox's Prison Sentence

  • Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed his first crime by committing mortgage fraud.
  • He misrepresented some aspect of his identity to lie to the bank.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up.
  • One needs to have enough of the down payment but not necessarily the closing cost.
  • To close the loan, real estate agents can raise the purchase price and have the seller pay the closing costs.
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Evolution of Matthew Cox's Crimes

  • Matthew Cox's first crime was mortgage fraud, which evolved into massaging deals.
  • He emboldened himself after committing the first crime and continued to commit fraud.
  • He started to twist the rules and manipulate people's trust.
  • He used his personal relationships to get deals done.
  • He started to commit more complex crimes, such as bank fraud and identity theft.
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Matthew Cox's Prison Sentence

  • Matthew Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He was released from prison after serving his sentence.
  • He wrote true crime stories of many of his fellow prisoners while in prison.
  • He continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
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Matthew Cox's Ethics Course

  • Matthew Cox was approached to write an ethics course for loan officers and brokers.
  • He reflected on what he had done and the truth is that some people should not own a house.
  • He helped many people get into foreclosure by putting them in houses they could not afford.
  • He realized the harm he had caused and started to write a book about his experiences.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed his first crime by committing mortgage fraud.
  • He explains how it is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • He charges a broker fee or yield spread to make money.
  • He could make a nice chunk of change by committing fraud, even on a $100,000 loan.
  • There is a lot of gray area in committing fraud, and it is not always easy to find it.
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Creating Synthetic People

  • Matthew Cox talks about creating synthetic people, meaning uh creating fake identities.
  • A credit profile is made up of your name, date of birth, social security number, and address.
  • There are many people out there that think that the credit bureau is already aware of them, but the truth is the first time the credit bureau has ever heard about you was when you told them the first time you applied for a credit card.
  • When Matthew Cox opened his own mortgage company, he was on the inside and talking to the owners of The Lending Institutions and the banks.
  • He realized through his experience that it wasn't just Eagle lending he was talking to, but there were 40 different account executives coming in on a weekly basis trying to get them to sign up with their lender.
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Liar Loans and No Doc Loans

  • Matthew Cox has heard the term liar loans, where they don't ask for any documentation if the borrower has a good credit score and a stable income.
  • He has also heard of no doc loans, where they don't ask for any documentation if the borrower has a good credit score and a stable income.
  • He explains that it is easy to get a loan with these types of loans, but it is important to understand the risks involved.
  • He has hired a bunch of brokers to work underneath him and when they would get caught, he would get the phone call from the owner of a bank or a lending institution.
  • He has learned how things work by dealing with these types of loans and the risks involved.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed mortgage fraud by using fake W2s and tax ID numbers to apply for a loan.
  • The fraud was detected by checking with sunbiz.com, the Secretary of State's website that registers corporations and verifies tax ID numbers.
  • Cox learned that every W2 has to have a matching tax ID number for the corporation that issued it, and there are safeguards in place to detect fraud on different documents like W2s.
  • Cox was shocked to learn that the broker noticed the discrepancy in the social security number on the W2 and credit report.
  • The woman who came in with perfect credit was able to get a car loan and a credit card using her husband's social security number, which was not her real one.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He misrepresented some aspect of his identity to lie to the bank.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up.
  • One needs to grab some random kid Social Security numbers and their name and pull them from file cabinet.
  • He changed the date of birth to be an adult and pulled it from file cabinet.
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Applying for Credit Cards

  • He applied for a couple credit cards using a child social security number.
  • He pulled his own credit report and saw that there had been two inquiries.
  • He went to Social Security and called or called Social Security and tried to get them to issue him Social Security numbers to adults.
  • He called up and of course he was a novice, he didn't really know what he was doing.
  • He called back probably 10 times and eventually someone said he had to be born in a hospital.
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Getting a Social Security Number

  • He called up and said he never had a social security number issued.
  • They were like how old are you and he was like 31 years old.
  • They were like that's not possible, do you have a driver's license?
  • He had a bank account and a Social Security number.
  • He brought his driver's license in and they pulled it up.
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Creating a Birth Certificate

  • He called back probably 10 times and eventually someone said he had to be born in a hospital.
  • He was like um you know he's three and they go well I'm sorry if he's over the age of 12 months old he has to come in hang up the phone call.
  • He was like my son is 10 months old he's out of the country born with a midwife never had a social security number.
  • They go oh okay that's fine just get his birth certificate and a his shot record.
  • He figured out how to create a birth certificate.
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Creating Synthetic Identities

  • Matthew Cox figured out that it was easier to go to the DMV and have them give him a driver's license than to create a fake one.
  • He noticed that they would just grab the form and go okay, like they don't even look at it.
  • Cox felt like going to the DMV was like going to a bank and depositing a check.
  • He picked a name and said his wife's last name was that if it was questioned, which it never was.
  • He applied for credit cards and was denied, but they offered him a secured credit card.
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Building Credit Profiles

  • Cox filled out the secured credit card application and sent it to the bank with the money.
  • He started making payments and pulled the credit report after a year.
  • The credit report showed that he had three credit cards with credit scores of 705, 701, and 695.
  • He only needed a 620 credit score to borrow 95% of the loan from the bank.
  • He started other synthetic identities and waited for a year to build up credit scores.
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Making Money with Synthetic Identities

  • Cox started making payments on the credit cards and building up credit scores.
  • He waited six months and randomly pulled the credit report of one of the synthetic identities.
  • The credit score was 705, which was enough to borrow 95% of the loan from the bank.
  • He started other synthetic identities and waited for a year to build up credit scores.
  • He made money by borrowing personal loans and credit cards and building up credit scores.
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Leveraging Credit Profiles

  • Cox had the ability to leverage the perfect credit profiles against the banks.
  • He could apply for personal loans and credit cards and build up credit scores.
  • He could get up to 80 or $100,000 in credit cards and personal loans.
  • He could get up to 50,000 in credit cards and personal loans per identity.
  • He could get up to 60,000 in credit cards and personal loans per identity if he was really good at it.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed mortgage fraud as his first crime.
  • He bought houses in Eore City, Tampa for $50,000 to $60,000 and sold them for $100,000 to $200,000.
  • He sold these houses to synthetic identities, who had perfect credit and provided W2s and pay stubs.
  • He thought that this would be a better way to sell the houses without having to dump $25,000 into renovations.
  • He thought that he could sell the houses for much higher by doing a little bit of renovations.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed mortgage fraud by misrepresenting some aspect of his identity to lie to the bank.
  • The average person may find it difficult to commit fraud in this space due to safeguards set up by the bank.
  • One needs to have knowledge of the industry to commit fraud in this space.
  • Matthew Cox had many people show up for the synthetic identity and signed for them almost all the documents.
  • Matthew Cox would sit in the parking lot and sign all the documents and wait for an hour or two before returning with them.
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Matthew Cox's Ability to Converse Fluently about Synthetic Identities

  • Matthew Cox was able to converse fluently about synthetic identities.
  • He had knowledge of the jobs, birth dates, and other details of the synthetic identities.
  • Matthew Cox was able to keep in mind all the conversations he had with the people involved in the fraud.
  • He was able to keep all the information in the correct category.
  • Matthew Cox was able to tell good stories with the synthetic identities.
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Matthew Cox's Ability to Obtain W2s and Rental History

  • Matthew Cox was able to obtain W2s and rental history for the synthetic identities.
  • He had everything done, and it was perfect.
  • The pay stubs and rental history were obtained legally.
  • Matthew Cox was able to print up the documents and have them signed by the people involved.
  • The people involved in the fraud knew what was going on and were still going along with it.
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Matthew Cox's Ability to Obtain Personal Loans and Credit Cards

  • Matthew Cox was able to obtain personal loans and credit cards in the names of the synthetic identities.
  • He was able to run up all of the credit cards by this point, worth tens of thousands of dollars.
  • The borrowers were worth millions of dollars.
  • Once Matthew Cox stopped paying, the banks would start getting letters from collection companies.
  • After about three months, tons of letters would be received.
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Matthew Cox's Ability to Find Articles about Accidents

  • Matthew Cox was able to find articles about accidents in the newspaper or online.
  • He would use these articles to find a 12C car pileup or other accidents.
  • He would use the names of the people involved in the accidents to create new synthetic identities.
  • Matthew Cox would use the names of the people involved in the accidents to create new synthetic identities.
  • He would use the names of the people involved in the accidents to create new synthetic identities.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • One needs to have multiple rental properties or primary residence and all of their credit cards went bad everything went bad at the same time.
  • A letter from a fictional sister can be used to convince collection companies to stop writing less letters and take the houses back.
  • The letter should happen people get divorced, they lose their job, they get an accident, it's reasonable when they look into it all looks legitimate even if they ordered another appraisal by this point.
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Matthew Cox's Thought Process

  • Matthew Cox thought about making a fake death certificate.
  • He thought about primary mortgage insurance and trying to claim that the primary mortgage insurance tried to claim that the borrower was dead.
  • He thought about writing a letter saying he was going through a divorce and his wife's keeping those houses.
  • He thought about shutting down the scam without the borrower dying.
  • He thought about using a newspaper to mail a car pile-up as a solution.
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Matthew Cox's Innovative Idea

  • Matthew Cox's idea was to use a newspaper to mail a car pile-up as a solution.
  • He thought about making a fake death certificate.
  • He thought about primary mortgage insurance and trying to claim that the primary mortgage insurance tried to claim that the borrower was dead.
  • He thought about writing a letter saying he was going through a divorce and his wife's keeping those houses.
  • He thought about shutting down the scam without the borrower dying.
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Matthew Cox's Better Bet

  • Matthew Cox's better bet was to use a newspaper to mail a car pile-up as a solution.
  • He thought about making a fake death certificate.
  • He thought about primary mortgage insurance and trying to claim that the primary mortgage insurance tried to claim that the borrower was dead.
  • He thought about writing a letter saying he was going through a divorce and his wife's keeping those houses.
  • He thought about shutting down the scam without the borrower dying.
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Matthew Cox's Scam

  • Matthew Cox's scam ended up making like 11 and a half million or something.
  • There were so many other people involved in that scam that were getting 50,000, 20,000, 25,000, and so on.
  • The bank would foreclose on that property and put it back on the MLS for 100,000 to 200,000.
  • The FBI said they did 1009 houses, but it's not true.
  • The whole area shot up after a while, and the FBI said they did 1009 houses.
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Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed mortgage fraud in the early 2000s.
  • He started a mortgage company with a dozen employees.
  • Fraud was a significant part of the business, with around 60-70% of transactions being fraudulent.
  • The business looked legitimate, with FHA and VA approvals and subprime lenders.
  • Cox and his team became more creative and emboldened as they got away with fraud.
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Creating a Fake Bank

  • Cox and his team decided to create their own bank.
  • They used the internet, which was still in its infancy, to set up the bank.
  • They created a website and a 1-800 number for the bank.
  • They made bank statements to prove down payments for mortgage applications.
  • They raised the purchase price of homes to cover the down payment or brought it down for the buyer.
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Paying Off Debts and Incentivizing Signatures

  • Cox and his team paid off debts and gave incentives to sign mortgage applications.
  • They offered 100% financing or even 110% financing to buyers.
  • They wanted to incentivize people to sign, even if they didn't have the money to buy the home.
  • They did "insane things" to make the deals work.
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Gretchen Zas and Creative Financing

  • Cox's old manager, Gretchen Zas, opened her own mortgage company.
  • Her company, Creative Financing, was fraudulent from the beginning.
  • Cox and Zas became close and went on vacation together.
  • Zas would ask Cox to make W2s or pay stubs for her.
  • Cox would verify rent or rental history for her clients.
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Zas's Trouble and the End of the Friendship

  • Zas got in trouble for doing fraudulent loans.
  • Cox stopped helping her and their friendship ended.
  • Cox continued to commit fraud until he was caught and sentenced to prison.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud to buy a house worth $300,000 with a $550,000 loan.
  • He used a fake identity to misrepresent some aspect of his identity to lie to the bank.
  • The appraisal was jacked up in an area where it was easy to get it done.
  • The straw man scam was a cashback scam that allowed him to get a couple hundred thousand in his pocket.
  • He was willing to ruin his credit to get the money, and it was not a synthetic or stolen identity.
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Matthew Cox's Prison Sentence

  • Matthew Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He bought five houses with the $550,000 loan, but never made the first payment and let them go into foreclosure.
  • The bank immediately investigated and realized the fraud, and the FBI came in to investigate.
  • Matthew Cox and his accomplice were indicted and had to hire an attorney.
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Matthew Cox's Refinance Request

  • Matthew Cox came to Pete and Gretchen with a request to refinance their house and get a $75,000 loan to pay their attorney.
  • Gretchen provided W2s and pay stubs that were fake, and the attorney knew something was wrong.
  • The attorney knew that the mortgage company had been shut down and that it was impossible to borrow $775,000.
  • The attorney told Matthew Cox that he needed to wear a wire to talk to the FBI.
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Matthew Cox's Meeting with the FBI

  • Matthew Cox met with the FBI to discuss his case.
  • The FBI was concerned about the fraudulent activity and wanted to talk to him.
  • Matthew Cox was indicted and had to hire an attorney.
  • He was told to wear a wire to talk to the FBI.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up.
  • One needs to misrepresent some aspect of their identity to lie to the bank.
  • The average person may not have the resources or knowledge to commit fraud in this way.
  • Matthew Cox's first crime was committing mortgage fraud.
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Matthew Cox's Prison Experience

  • Matthew Cox was released from federal prison after serving 13 years.
  • He has written true crime stories of many of his fellow prisoners.
  • He continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
  • Matthew Cox's prison experience has given him a unique perspective on the criminal justice system.
  • He has seen firsthand the impact of incarceration on individuals and their families.
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Matthew Cox's Interview with Gretchen

  • Matthew Cox was interviewed by Gretchen about his first crime.
  • Gretchen asked Matthew Cox if he had lied to the FBI.
  • Matthew Cox responded by saying that he had lied to the FBI.
  • Gretchen immediately started crying and said that Matthew Cox's actions were not true.
  • Matthew Cox was not lying to Gretchen for her benefit, but rather to express his feelings about the situation.
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Matthew Cox's Prison Sentence

  • Matthew Cox was sentenced to prison for committing mortgage fraud.
  • He was convicted of identity theft, passport fraud, and other charges.
  • Matthew Cox was sentenced to 13 years in prison.
  • He was released from prison after serving 13 years.
  • Matthew Cox's prison sentence was a result of his actions and the evidence against him.
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Matthew Cox's First Crime

  • Matthew Cox's first crime was committing mortgage fraud.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • Cox explains that he saw The Godfather and knew that he was not supposed to cooperate.
  • He was not loyal to the FBI and did not want to snitch on his friends.
  • Cox regrets not going into the weekly meeting with a dolly and scooping up the files to give to the FBI.
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Cooperation with the FBI

  • Cox did not cooperate with the FBI and did not want to snitch on his friends.
  • He believed that most people from his experience would sacrifice all integrity to save their own ass.
  • He only had one person who did not talk to the FBI.
  • Cox's ex-wife, who is a gangster, did not talk to the FBI.
  • After seeing how many people cooperate and the way the system is set up, Cox's understanding of loyalty is now more realistic.
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Committing Crime

  • Cox did a bunch of scumbag things, including lying, cheating, and stealing.
  • He cannot go around behaving like a scumbag and expect those same scumbags to abide by a street code and not roll over on him.
  • People cooperate when they're not even looking at any real time.
  • If you're looking at 30 years and especially after going to prison, people's friends and family are not likely to come to see them.
  • Most of those guys turned around and got indicted for other things years later, even though they did not snitch.
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Snitching

  • Cox did not snitch on his friends and did not want to cooperate with the FBI.
  • People signal virtue by not snitching, but actually do secretly.
  • Everyone sees the example of Cox and is considering whether to snitch.
  • Cox's ex-wife did not snitch on him.
  • Cox regrets not going into the weekly meeting with a dolly and scooping up the files to give to the FBI.
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Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • One needs to have a high level of creativity to commit fraud in this space.
  • Matthew Cox wrote true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 076

Humanity Flourishes Because of Criminals

  • There are a lot of people out there that do the thing that is difficult to do in terms of Integrity.
  • These aren't people with Integrity, these are criminals.
  • If these were decent human beings and all of them will tell you why'd you do that oh you know I was a drug addict or I I needed the money.
  • If you were if you were a decent human being you would have gotten off the drugs you would have gone and gotten three jobs you can work 80 hours a week.
  • For you to sit there and say hey I'm going to act like a scumbag but now I got caught or I don't want you to tell on me well you're a guy that robs Banks you stick guns in people's faces you kidnap people you torture people you sell drugs you're not you're not a moral ethical person but you want everybody else to hold up to some ethical code while while you're robbing grandma that's not right.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 077

Matthew Cox's Story

  • Matthew Cox's story is one of I don't know if it came from desperation versus a love of this kind of game right like it it wasn't part of it an attraction to the the creative aspect of this of breaking the rules when nobody else can and you figure out a way to do it.
  • Initially, it was I needed the money, but then you get $50,000 in your bank and then you get a 100 and then it's 200.
  • It turns into the creativity in part for me and too it was a chance for me to prove to everybody how smart I was.
  • It was done out of desperation initially and then it just turned into pure narcissistic arrogance look at me look at how I can do things that nobody else can do look how smart I am.
  • Matthew Cox walked into Bank of America handed them seven documents that were all fraudulent and they cut him a check for $250,000.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 079

Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox committed mortgage fraud as his first crime.
  • He misrepresented some aspect of his identity to lie to the bank.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up.
  • One needs to misrepresent some aspect of their identity to lie to the bank.
  • Cox felt great about committing the crime and felt like he was James Bond.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 080

Causing Harm to Victims

  • Initially, nobody got hurt because Cox didn't take any direct money.
  • At some point, Cox took off on the run, and people did lose money.
  • Cox put people in a position where he damaged the credit or title to their house.
  • People had to pay a lawyer $110,000 to fix the damage caused.
  • Cox caused a lot of anguish to those people who had done nothing wrong.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 082

Probation and Forfeiture of License

  • Cox was caught and received three years of probation.
  • He was forbidden from owning a mortgage company anymore.
  • Cox transferred his brokerage business license to a friend who bought his business.
  • He was allowed to work as a consultant in the mortgage industry.
  • Cox's ex-wife received a huge child support payment, which was a chunk of change.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 083

Starting a New Career

  • After losing everything in his divorce, Cox couldn't be a mortgage broker anymore.
  • He received $9,000 a month to cover his bills and support his ex-wife.
  • Cox started flipping houses, both legitimately and illegally.
  • He was in the middle of figuring out how to make a living.
  • Cox felt great about starting a new career and making a lot of money.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 085

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He misrepresented some aspect of his identity to lie to the bank.
  • He renovated a house on 26th Street and sold it to a synthetic identity.
  • He ended up selling the house to a synthetic identity and letting him refinance it.
  • He started naming his synthetic identities after characters from the movie Reservoir Dogs.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 086

Mistakes Made in Fraud

  • Matthew Cox made many mistakes within the fraud, such as naming his synthetic identities after characters from the movie Reservoir Dogs.
  • He thought it was cute to use these names, but it was a mistake.
  • The judge looked at him like a jackass when he heard about the Reservoir Dogs and the synthetic identities.
  • Matthew Cox made fake banks to make down payments in.
  • The purpose of the fake banks was to have three months worth of bank statements to show that he had the $50,000 in the bank.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 088

Verifying Synthetic Identities

  • Matthew Cox had to verify the identities of the synthetic identities he used.
  • He had to call the bank and verify the identity of the person who had the down payment in the bank.
  • He had to provide bank statements to the bank to verify the identity.
  • The bank wanted to see that Matthew Cox had reserves to pay all mortgage payments for six months.
  • The bank wanted to make sure that Matthew Cox could maintain all mortgage payments if he lost his job.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 089

Matthew Cox's Prison Experience

  • Matthew Cox was released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He wrote true crime stories of many of his fellow prisoners while in prison.
  • He continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
  • Matthew Cox remembers renovating a house completely on 26th Street.
  • He ended up selling the house to a synthetic identity and letting him refinance it.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 091

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as a first crime.
  • He misrepresented some aspect of his identity to lie to the bank.
  • It is difficult for the average person to commit fraud in this space because there are many safeguards set up.
  • His success was his first time his father had ever been proud of him.
  • He became a mortgage broker and closed four loans in his first month.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 092

Matthew Cox's Success

  • Matthew Cox's financial success was significant.
  • He closed four loans in his first month as a mortgage broker.
  • His dad was proud of him for the first time.
  • He was making a lot of money and thought he was doing well.
  • He was not aware that his actions were illegal.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 094

Matthew Cox's Career

  • Matthew Cox started working as a mortgage broker.
  • He was promoted to a manager position within a few weeks.
  • He was making a lot of money and thought he was doing well.
  • He was not aware that his actions were illegal.
  • He was eventually arrested and indicted for fraud.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 095

Matthew Cox's Prison Sentence

  • Matthew Cox was sentenced to three years of probation.
  • He was aware that he had done something wrong.
  • He was aware that he had disappointed his father.
  • He thought he could flip houses and start a development company.
  • He was not aware of the difficulty in finding qualified borrowers.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 097

Matthew Cox's First Crime

  • Matthew Cox's first crime was committing mortgage fraud.
  • He bought houses for $50,000 and recorded them at $200,000.
  • He had synthetic identities buy all the properties and refinance them, pulling out cash for six months' worth of payments.
  • He let all the properties go into foreclosure.
  • This strategy worked well and he made a lot of money.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 098

Creating Fake Identities

  • Cox figured out how to make a real ID by sanding off information on a regular ID and printing the corrected information in reverse on a piece of transparency.
  • He used this method to create fake IDs for all the people involved in his scam.
  • The fake IDs looked authentic and passed muster with the bank.
  • Cox was able to open bank accounts with the fake IDs.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 100

Finding a Picture for a Fake ID

  • Cox went to Hillsboro County's arrest website to find people he knew who had been arrested.
  • He found a picture of Eric Tamargo, who had been arrested for a DUI or domestic violence.
  • Cox printed out the picture, cut it up, and pasted it onto a driver's license.
  • He made a copy of the driver's license with the picture and used it as James Red's ID.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 101

Getting Eric Tamargo to Help

  • Cox called Eric Tamargo and asked him to help with the scam.
  • Eric was initially hesitant, but Cox convinced him to help.
  • Eric worked for someone else, but periodically they would buy a house and ask him to trim the trees and clean up the yard.
  • Cox asked Eric to come to the office and trim the trees of one of the houses.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 103

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud.
  • He used mug shots of someone else to impersonate James Red.
  • When he was arrested, he was the only person who could pull off the scheme.
  • He made a lot of money from the scheme, but it went back into the properties.
  • He had to sign a fake ID to complete the scheme.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 104

Matthew Cox's Prison Experience

  • Matthew Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He wrote true crime stories of his fellow prisoners while in prison.
  • He interviewed criminals about their crimes on his YouTube channel called "Inside True Crime."
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 106

Matthew Cox's First Crime Story

  • Matthew Cox's first crime was committing mortgage fraud.
  • He used mug shots of someone else to impersonate James Red.
  • When he was arrested, he was the only person who could pull off the scheme.
  • He made a lot of money from the scheme, but it went back into the properties.
  • He had to sign a fake ID to complete the scheme.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 107

Matthew Cox's Prison Experience Story

  • Matthew Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He wrote true crime stories of his fellow prisoners while in prison.
  • He interviewed criminals about their crimes on his YouTube channel called "Inside True Crime."
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 109

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He misrepresented some aspect of his identity to lie to the bank.
  • There are many safeguards set up to prevent fraud in the mortgage industry.
  • One needs to have a license to get appraisal software.
  • Cox ordered appraisal software by emailing it as someone else.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 110

Appraisal Software

  • Cox ordered appraisal software by emailing it as someone else.
  • He paid for the software with a credit card.
  • The software was like 1,500 bucks or something.
  • Cox created a synthetic appraiser by using someone else's license.
  • He used an email address as her uh so it was a synthetic appraiser.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 112

Appraisal Process

  • Cox's appraisal was done by a desktop review.
  • The appraiser checked to make sure all comparable sales were sold for what the pictures looked like.
  • The appraiser's salary was on salary and he did the review quickly.
  • It was cheaper to pay for the appraiser appraisal than to have an in-house appraiser.
  • Everybody was getting paid right.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 113

Getting Caught

  • Cox got caught periodically.
  • He was living in Tampa Heights which is next to Eboro city in Tampa.
  • He bought an 8-unit building and renovated it into a Triplex.
  • He was driving an Audi and dating a woman he shouldn't have been dating.
  • He went on vacations and got a phone call from his broker.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 115

Allan Duncan

  • Allan Duncan never made his first mortgage payment.
  • Cox's friend of his codefendant got a check for the same amount.
  • Cox and his friend got checks for 20 or $30,000 on every closing.
  • They were trying to turn all the money into a development company.
  • Cox's friend had to go to Amsterdam for two weeks.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 116

Matthew Cox's First Crime

  • Matthew Cox commits mortgage fraud by misrepresenting his identity to a bank.
  • He runs downstairs to his apartment and opens the door to find his broker, who is Duncan, and asks if he has made the payment.
  • Duncan turns around and says he did not make the payment, and Cox realizes he is in trouble.
  • Cox calls the account executive at Southstar Bank and is told that there is a problem with the account, but they do not know exactly what it is.
  • Cox goes to the office and calls Southstar Bank, but nobody answers. He realizes it is Rudy's fault.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 118

Talking to the Vice President of Southstar Bank

  • Cox calls the vice president of Southstar Bank and is told that Alan Duncan is on the phone.
  • Cox assures the vice president that he wants to talk to Duncan and that he is in the presence of his lawyer and the president of the bank and the head of fraud.
  • The vice president tells Cox that Duncan is not available and that he should hold on for a few seconds.
  • Cox is put on hold for 20 seconds and then the vice president answers the phone.
  • Cox explains the situation to Duncan and apologizes for the mistake.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 119

The Issue

  • The issue is that Southstar Bank does not have a record of Cox.
  • Cox is terrified but tries to play it cool.
  • Duncan tells Cox that he does not think he is talking to Alan Duncan.
  • Cox is confused and asks if Duncan has called the authorities yet.
  • The head of the fraud department tells Cox that the FBI has worked for them for 10 years or more.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 120

Paying Back the Money

  • Cox offers to pay back the money he owes Duncan.
  • Duncan tells Cox that they will get the money back when they foreclose on the property.
  • Cox is confused and asks if Duncan has the appraisal in front of him.
  • Duncan tells Cox that the property is worth $195,000 and Cox realizes he owes more than that.
  • Cox asks Duncan to open the appraisal and look at the comp numbers to see if they are accurate.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 122

Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox, a con man who was recently released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He has written true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
  • In this interview, Cox talks about his first crime, which was committing mortgage fraud.
  • He explains how it is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • Cox says that it is not uncommon for people to be caught red-handed in mortgage fraud, but it is rare for any funds to be recouped.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 123

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud.
  • He used fake identities to lie to banks.
  • He was caught and released from prison after 13 years.
  • He now interviews criminals on his YouTube channel.
  • He explains how difficult it is for the average person to commit fraud in the mortgage industry.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 125

Matthew Cox's First Crime - Details

  • Matthew Cox's first crime was committing mortgage fraud.
  • He used fake identities to lie to banks.
  • He was caught and released from prison after 13 years.
  • He now interviews criminals on his YouTube channel.
  • He explains how difficult it is for the average person to commit fraud in the mortgage industry.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 126

Matthew Cox's First Crime - How it Happened

  • Matthew Cox's first crime was committing mortgage fraud.
  • He used fake identities to lie to banks.
  • He was caught and released from prison after 13 years.
  • He now interviews criminals on his YouTube channel.
  • He explains how difficult it is for the average person to commit fraud in the mortgage industry.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 128

Matthew Cox's First Crime - Consequences

  • Matthew Cox's first crime was committing mortgage fraud.
  • He used fake identities to lie to banks.
  • He was caught and released from prison after 13 years.
  • He now interviews criminals on his YouTube channel.
  • He explains how difficult it is for the average person to commit fraud in the mortgage industry.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 129

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud by transferring the deed of a property from the real owner's name into his stolen identity.
  • He refinanced the house multiple times using the stolen identity.
  • Allison, the person he was pretending to be, went to different closings with the stolen identity.
  • At one closing, the title person questioned Allison's identity and refused to give her the check.
  • Allison and Matthew Cox drove away from the closing and realized that the scam was over.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 131

Matthew Cox's Interview

  • Matthew Cox talks about his first crime, which was committing mortgage fraud.
  • He explains how he transferred the deed of a property from the real owner's name into his stolen identity.
  • He refinanced the house multiple times using the stolen identity.
  • Allison, the person he was pretending to be, went to different closings with the stolen identity.
  • At one closing, the title person questioned Allison's identity and refused to give her the check.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 132

Matthew Cox's Interview (Continued)

  • Allison and Matthew Cox drove away from the closing and realized that the scam was over.
  • Allison changed her hair color to match her stolen identity, but this did not help her in the long run.
  • At the next closing, the title person questioned Allison's identity and refused to give her the check.
  • Allison realized that she was not going to get the check and that the scam was over.
  • Matthew Cox and Allison drove away from the closing and realized that the scam was over.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 134

Matthew Cox's Interview (Continued)

  • Allison tried to convince Matthew Cox to continue with the scam, but he refused.
  • Allison realized that she was not going to get the check and that the scam was over.
  • Matthew Cox and Allison drove away from the closing and realized that the scam was over.
  • Allison tried to convince Matthew Cox to continue with the scam, but he refused.
  • Allison realized that she was not going to get the check and that the scam was over.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 135

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud in Clearwater, Florida.
  • Travis, his partner in crime, committed mortgage fraud in Orlando, Florida.
  • They were both running scams and had already yielded half a million dollars.
  • Cox had a bank account that he wanted to give to Travis to deposit in his account.
  • Cox explained the situation to Travis, but Travis was not convinced and wanted to give him the check.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 137

The Bank Manager's Demand

  • The bank manager demanded that Cox endorse the back of the check or they would not clear it.
  • Cox was in the parking lot and did not want to go to the bank.
  • Travis called Cox and said the cops were waiting for him.
  • Cox was convinced that the cops were waiting for him and was scared.
  • Travis told Cox to calm down and that the cops were not waiting for him.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 138

The Bank Manager's Demand

  • The bank manager demanded that Cox endorse the back of the check or they would not clear it.
  • Cox was in the parking lot and did not want to go to the bank.
  • Travis called Cox and said the cops were waiting for him.
  • Cox was convinced that the cops were waiting for him and was scared.
  • Travis told Cox to calm down and that the cops were not waiting for him.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 140

The Bank Manager's Demand

  • The bank manager demanded that Cox endorse the back of the check or they would not clear it.
  • Cox was in the parking lot and did not want to go to the bank.
  • Travis called Cox and said the cops were waiting for him.
  • Cox was convinced that the cops were waiting for him and was scared.
  • Travis told Cox to calm down and that the cops were not waiting for him.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 141

The Bank Manager's Demand

  • The bank manager demanded that Cox endorse the back of the check or they would not clear it.
  • Cox was in the parking lot and did not want to go to the bank.
  • Travis called Cox and said the cops were waiting for him.
  • Cox was convinced that the cops were waiting for him and was scared.
  • Travis told Cox to calm down and that the cops were not waiting for him.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 143

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud to start a tree trimming business.
  • He needed to buy a tree trimmer, which cost $5,000.
  • He gave another $25,000 to start the business.
  • Cox was working with a task force, which was put together by the state.
  • The task force was involved in multiple counties and it wasn't hard for Cox to explain his scam.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 144

Cox's Scam

  • Cox's scam involved buying houses and flipping them.
  • He was paying his partners, but they hadn't been paid back yet.
  • The money was taken out in cash, which could always be shown.
  • Cox was concerned about the process, but he was still flipping properties.
  • One day, a friend named Steve Sutton, a sheriff's deputy, called Cox.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 146

Sutton's Call

  • Sutton was calling people to ask about a property sold to Lee Black.
  • Cox had never met Mr. Black, but he was nervous.
  • Sutton was a reporter for the St. Petersburg Times.
  • There were subpoenas being served on several of Cox's files.
  • Cox was very concerned and didn't know what was going on.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 147

Sheriff's Deputy Visit

  • Sutton walked into Cox's office in uniform.
  • Cox was stiffened when Sutton walked in.
  • Sutton said he had to talk to Cox outside.
  • Cox went outside and Sutton told him that a girl he used to date worked in the Tampa Police Department.
  • Sutton said that one of Cox's friends had been arrested in Orlando and was being investigated for other things in Clearwater.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 149

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud.
  • He arranged all the loans for a buyer who signed the paperwork and walked away with a check for 30,000.
  • The buyer did not know if the loan was legitimate and signed the paperwork without fully understanding the terms.
  • The buyer had perfect credit and walked away with a check for 30,000.
  • The buyer did not know Y and the buyer's job was a sheriff's deputy.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 150

Cooperating with the FBI

  • Matthew Cox was told to cooperate with the FBI.
  • He was afraid of getting hemmed up and was told not to talk to the FBI.
  • He was told that all white-collar criminals cooperate with the FBI.
  • He was told that he should tell the FBI that he arranged all the loans for the buyer.
  • He was told that he should tell the FBI that the buyer signed the paperwork and walked away with a check for 30,000.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 152

Leaving the Scene

  • Matthew Cox was told to leave the scene and not talk to the FBI.
  • He was told that he could not stay in the area because he was on federal probation.
  • He was told that he could not go to prison again.
  • He was told that he could not defend himself against a guy who was 6 foot 3 and tatted up.
  • He was told that he could not benefit a gang.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 153

Cutting Checks

  • Matthew Cox cut checks to people and gave them cash.
  • He gave out 5,000 checks, 7,000 checks, 8,000 checks, 6 checks, and 9 checks.
  • He gave out a total of 80,000 in cash.
  • He was able to give out the money because he had a job and was able to cut checks.
  • He was able to give out the money because he had a job and was able to cut checks.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 155

Rebecca Hal

  • Matthew Cox was dating Rebecca Hal.
  • He had forgotten about plans to go out with her.
  • She showed up at his house and was upset.
  • He told her that he was leaving and that he was going to prison.
  • She suddenly begged to come with him.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 156

Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox is a con man who was recently released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He has written true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
  • In this interview, Cox talks about his first crime, which was committing mortgage fraud.
  • He explains how it is difficult for the average person to commit fraud in this space because there are many safeguards set up, and one needs to misrepresent some aspect of their identity to lie to the bank.
  • Cox states that it is not uncommon for people to commit mortgage fraud, but it is often done by people who are desperate or under pressure.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 158

Matthew Cox's First Crime: Mortgage Fraud

  • Matthew Cox was born in Hillboro County, Florida.
  • He went to high school with a kid named David Freeman.
  • Cox had an ID with a fake name, David Freeman, and a fake address in Florida.
  • He went to Atlanta to set up a business and make a fake driver's license.
  • Cox rented a house in Georgia using a fake identity and a fake driver's license.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 159

Creating a Fake Identity

  • Cox ordered Scott Cuno's birth certificate, social security card, and registered a vote in his name.
  • He made a lease agreement in Scott Cuno's name and got a driver's license in his name.
  • Cox went to Alabama to get a driver's license in his own name.
  • He went to the DMV and presented all the fake documents.
  • Cox got a driver's license in his own name and started driving a car in his own name.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 161

Creating a Fake Business

  • Cox created a virtual office in Atlanta that answered phone calls and forwarded messages.
  • He made a business card for Becky, who rented a house from Michael Shanahan.
  • Cox rented Michael Shanahan's house using a fake identity.
  • He ordered Scott Cuno's birth certificate, social security card, and registered a vote in his name.
  • Cox made a lease agreement in Scott Cuno's name and got a driver's license in his name.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 162

Creating a Fake Business

  • Cox created a virtual office in Atlanta that answered phone calls and forwarded messages.
  • He made a business card for Becky, who rented a house from Michael Shanahan.
  • Cox rented Michael Shanahan's house using a fake identity.
  • He ordered Scott Cuno's birth certificate, social security card, and registered a vote in his name.
  • Cox made a lease agreement in Scott Cuno's name and got a driver's license in his name.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 164

Creating a Fake Business

  • Cox created a virtual office in Atlanta that answered phone calls and forwarded messages.
  • He made a business card for Becky, who rented a house from Michael Shanahan.
  • Cox rented Michael Shanahan's house using a fake identity.
  • He ordered Scott Cuno's birth certificate, social security card, and registered a vote in his name.
  • Cox made a lease agreement in Scott Cuno's name and got a driver's license in his name.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 165

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He started running ads in magazines saying "home loans, good credit, bad credit, no problem, call this number" to get real IDs and driver's licenses.
  • He changed a person's name without their knowledge or consent.
  • He got a driver's license in the name of the person he changed, without them ever showing up anywhere.
  • The person he changed their name to showed up at the lawyer's office, and Cox realized the process of changing someone's name was more complicated than he thought.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 167

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He used a federal statistical survey form to misrepresent his identity to the bank.
  • He surveyed homeless people, who were not actively engaging with the economic system.
  • Most of the homeless people he surveyed did not believe they would be gainfully employed within the next two years.
  • Filling out the form and asking questions back and forth took only five minutes.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 168

Homeless People in Society

  • Being in prison and dealing with mental illness and drug addiction are difficult for homeless people.
  • Housing homeless people is a difficult problem with no good solution.
  • Most homeless people are on the street because they have messed up over and over again.
  • Mark Lea, a person who highlights the humanity of people who have had a difficult life, mentions that their stories need to be heard.
  • Money would have to be dumped into correcting the problem of homelessness, but it is complicated and not everyone is paying for it.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 170

Matthew Cox's Prison Experience

  • Matthew Cox was released from federal prison after serving 13 years for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He wrote true crime stories of many of his fellow prisoners and continues to interview criminals about their crimes on his YouTube channel called "Inside True Crime."
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 171

Matthew Cox's Interview with Lex Fridman

  • Matthew Cox was interviewed by Lex Fridman about his first crime, which was committing mortgage fraud.
  • He explained how he used a federal statistical survey form to misrepresent his identity to the bank.
  • He surveyed homeless people, who were not actively engaging with the economic system.
  • Most of the homeless people he surveyed did not believe they would be gainfully employed within the next two years.
  • Filling out the form and asking questions back and forth took only five minutes.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 173

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud as his first crime.
  • He ordered six items to get a driver's license in someone else's name.
  • He fumbled through the process and lied to the DMV.
  • He was able to get a driver's license, voter's registration card, and other documents.
  • He was arrested by the FBI a few days later.
  • He was able to escape and go into hiding.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 174

Matthew Cox's Prison Experience

  • Matthew Cox was sentenced to 13 years in prison for bank fraud, mortgage fraud, identity theft, passport fraud, and other charges.
  • He wrote true crime stories of many of his fellow prisoners.
  • He interviewed criminals about their crimes on his YouTube channel called "Inside True Crime."
  • He was released from prison after serving 13 years.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 176

Matthew Cox's First Crime after Prison

  • Matthew Cox was able to get 27 driver's licenses in seven different states.
  • He was able to get over 2 dozen passports.
  • He was able to get multiple IDs for a single identity.
  • He was able to get a passport expedited and have it in two weeks.
  • He was able to get a driver's license in the name of Michael Eert.
  • He was able to get a proof of residency, primary, and secondary documents.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 177

Matthew Cox's Prison Experience

  • Matthew Cox was able to get a driver's license by lying to the DMV.
  • He was able to get a proof of residency, primary, and secondary documents.
  • He was able to get a driver's license in the name of Michael Eert.
  • He was able to get a proof of residency, primary, and secondary documents.
  • He was able to get a driver's license in the name of Michael Eert.
  • He was able to get a proof of residency, primary, and secondary documents.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 179

Matthew Cox's First Crime

  • Matthew Cox committed mortgage fraud.
  • He used a fake ID to apply for a mortgage in someone else's name.
  • He obtained credit cards in the name of the person he used as an alias.
  • He used these credit cards to make purchases and obtain loans.
  • He was caught and sentenced to 13 years in prison.
Matthew Cox: FBI Most Wanted Con Man - $55 Million in Bank Fraud | Lex Fridman Podcast #409 180

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