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Since 2018, Matthew Campbell used at least $2.29 million in newly acquired investor funds to pay previous investors and keep up his scheme.

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A real estate agent and investor based in Fresno, California, has pleaded guilty to a $9 million wire fraud scheme in connection with two of his investment companies.

Since 2012, Matthew Campbell, 43, operated Preferred Property LLC and Ampez Rehab Investments LLC to buy and sell real estate, build and renovate properties and solicit investors to fund his projects. But in 2018, he began using those companies to conduct a Ponzi scheme, the U.S. Department of Justice announced on Monday.

At that point, Campbell began to make false representations about the business’s finances and return on investment in order to attract new investors and then used those funds to pay returns to previous investors.

From the beginning of 2018 to October 2025, Campbell was able to acquire $9.1 million from investors, which he used in unauthorized ways, the DOJ said. At least $2.29 million in new investor funds was used to pay previous investors and keep up the scheme.

The Federal Bureau of Investigation handled the investigation, and Assistant U.S. Attorneys Cody S. Chapple and Arelis M. Clemente are prosecuting the case.

Campbell’s sentencing is scheduled for May 11, 2026. Although sentencing is up to the court’s discretion, Campbell could face up to 20 years in prison and a fine of up to $250,000.

Email Lillian Dickerson

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