A Manchester woman has admitted guilt in a federal court for running a fraudulent real estate investment scheme, as announced by Acting U.S. Attorney Jay McCormack.
Robynne Alexander, 63, pleaded guilty to one count of wire fraud. Her sentencing is set for October 15, 2025, by U.S. District Court Judge Samantha D. Elliott.
Court documents reveal that Alexander began soliciting funds from her coaching clients in 2018 for a New England real estate venture called Raxx-LeMay, LLC. She promised to acquire and renovate two commercial properties in Manchester but only raised $700,000 of the required $2 million by May 2018. Despite failing to meet the minimum funding requirement, she did not return investors’ money with interest as agreed but instead used the funds improperly.
Alexander proceeded with the property purchase using costly hard-money loans and misappropriated investor funds for unauthorized purposes. Over subsequent years, she continued using investor capital without proper disclosure or authority across multiple projects.
In early 2022, she transferred Raxx-LeMay properties to another entity under her control without investor approval, resulting in total losses of about $850,000 for investors. In another project involving Elm and Baker, LLC, she solicited $750,000 to convert a Manchester property into apartments but diverted more than half of these funds improperly.
By late 2022, Alexander sought investments for a resort project in Laconia but failed to close on the property after misusing at least $75,000 of the received funds. Across at least eight ventures involving at least 24 investors, she defrauded them out of approximately $3 million.
The charge carries a potential sentence of up to 20 years imprisonment along with supervised release terms and fines based on U.S Sentencing Guidelines and statutes.
The Federal Bureau of Investigation led this investigation with assistance from the Securities and Exchange Commission and New Hampshire Bureau of Securities Regulation. Assistant U.S Attorney John J Kennedy is handling prosecution duties in this case.
