NH Coach Swindled Investors Out of $3M

CONCORD, NH – A Manchester woman admitted today to running a brazen $3 million real estate investment scheme, leaving a trail of ruined finances and broken trust in its wake. Robynne Alexander, 63, pleaded guilty in federal court to one count of wire fraud, a charge carrying a potential 20-year prison sentence.

Acting U.S. Attorney Jay McCormack announced the guilty plea, detailing a scheme that began in 2018. Alexander, previously a real estate investment coach, pitched a New England venture, Raxx‑LeMay, LLC, to her clients, promising lucrative returns on commercial property acquisition and renovation in Manchester. She set a May 2018 deadline to raise $2 million, but fell short, securing only $700,000. Instead of honoring her agreement to return funds with interest, Alexander plunged ahead, using investor money for unauthorized purposes.

The scheme quickly spiraled. Alexander secured expensive hard-money loans and began diverting investor capital to other entities she controlled, repaying unrelated investors, and funding additional projects – all without proper disclosure or authority. By early 2022, she had transferred the Raxx‑LeMay properties to a new entity she controlled, stripping the original venture of its assets and leaving investors facing total losses of approximately $850,000. This was just the beginning.

The fraud extended to at least eight separate ventures. In one instance, Elm and Baker, LLC, Alexander solicited $750,000 to convert a Manchester property into apartments, then siphoned off over half the funds to cover personal debts and unrelated investor repayments, leading to foreclosure in 2023. A proposed resort project in Laconia met a similar fate: $250,000 in investor funds were solicited, at least $75,000 misappropriated, and the project ultimately dissolved without a closing. The total defrauded from at least 24 investors now stands at roughly $3,023,000.

U.S. District Court Judge Samantha D. Elliott has scheduled Alexander’s sentencing for October 15, 2025. Beyond imprisonment, the defendant faces up to three years of supervised release and a fine of up to $250,000, or twice the pecuniary gain derived from the fraud – whichever is greater. The final sentence will be determined based on U.S. Sentencing Guidelines and relevant statutes.

The Federal Bureau of Investigation led the investigation, with valuable 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, aiming to bring some measure of justice to the victims of Alexander’s calculated deception. This case serves as a stark reminder of the risks lurking within seemingly legitimate investment opportunities, and the importance of due diligence for any prospective investor.