A Manchester woman has pleaded guilty in federal court to operating a fraudulent real estate investment scheme, according to Acting U.S. Attorney Jay McCormack.
Robynne Alexander, 63, admitted guilt to one count of wire fraud. U.S. District Court Judge Samantha D. Elliott has scheduled her sentencing for October 15, 2025.
Court documents reveal that Alexander, previously a real estate investment coach, began soliciting funds from her clients in 2018 for a New England real estate venture named Raxx-LeMay, LLC. She promised to acquire and renovate two commercial properties in Manchester but only raised $700K of the required $2M by the May 2018 deadline. According to her agreement with investors, if the minimum amount was not raised by that date, investors were entitled to their money back with interest. However, Alexander did not return the funds and instead used them improperly.
Alexander continued using investor capital without proper authority or disclosure across multiple projects over several years. In early 2022, she transferred Raxx-LeMay properties to another entity she controlled without investor approval, resulting in total losses of about $850,000 for investors. In another project called Elm and Baker, LLC, she solicited $750,000 but misused more than half of it for unrelated purposes leading to foreclosure on the property in 2023.
Additionally, she sought funds for a resort project in Laconia and received $250,000 from investors before misappropriating at least $75,000 and failing to complete the purchase.
Overall, Alexander defrauded at least 24 investors out of approximately $3 million across eight ventures.
The wire fraud charge carries a potential sentence of up to 20 years imprisonment along with supervised release and fines as per federal guidelines.
The Federal Bureau of Investigation led the investigation into this case with assistance from the Securities and Exchange Commission and the New Hampshire Bureau of Securities Regulation. Assistant U.S Attorney John J. Kennedy is prosecuting the case.
