Joshua Matthew Houchins, Wire Fraud and Firearm Possession, North Carolina 2022

Raleigh Real Estate Developer Pleads Guilty to Wire Fraud and Firearm Possession Charges

Raleigh, N.C. – Joshua Matthew Houchins, a 36-year-old Raleigh real estate developer, pleaded guilty to wire fraud and firearm possession charges in a federal court in North Carolina.

Houchins, the owner of various real estate development companies, including Rossshire Development LLC, Greenstone Ventures LLC, and Modern South Development LLC, admitted to carrying out a fraud upon real estate investors. He also admitted to illegally possessing a firearm after having been convicted of a felony.

According to the superseding indictment, between 2014 and 2018, Houchins used his companies to carry out a fraud upon his real estate development investors. He solicited investment monies by telling victims that their money would be “put to work” on a specific property, and further represented that the investments would be secured by deeds of trust filed with the county register of deeds. However, Houchins did not put all of the investor funds to work on the property on which the investor was solicited to invest, and instead, regularly used investor funds on other properties, or on personal expenses.

The indictment alleges that Houchins diverted investor money away from the property on which the funds were supposed to be spent, and then defaulted on the notes by failing to pay investors their promised returns. The investors were unable to foreclose upon the investment properties because Houchins had not secured the promissory notes with a deed of trust filed, thereby resulting in losses to the investors.

Houchins specifically pled guilty to Count Nine, which alleged one instance of the above-described fraud on January 6, 2017. As a part of the plea, Houchins agreed to make restitution to all victims for losses arising from the scheme, and related schemes.

According to the superseding indictment, the grand jury began to investigate Houchins in 2018 concerning the aforementioned offenses. Following the issuance of subpoenas to his attorney and to his various real estate companies, Houchins only produced a small number of documents to the grand jury. Instead, the indictment alleges that Houchins admitted in a February 2020 letter that he had “destroyed all of the evidence.”

The superseding indictment also alleges that Houchins, who had recently separated from his wife, began to send her harassing messages. The indictment alleges that Houchins’ wife obtained a Domestic Violence Order of Protection (DVPO) barring Houchins from contacting, threatening, or harassing his wife. While Houchins was already prohibited from possessing a firearm due to his status as a convicted felon, the DVPO further prohibited Houchins from possessing a firearm.

Joshua Matthew Houchins, the Raleigh real estate developer, pleaded guilty to wire fraud and firearm possession charges, and agreed to make restitution to all victims for losses arising from the scheme.

Raleigh, N.C. – Joshua Matthew Houchins, a 36-year-old Raleigh real estate developer, pleaded guilty to wire fraud and firearm possession charges in a federal court in North Carolina. Houchins, the owner of various real estate development companies, including Rossshire Development LLC, Greenstone Ventures LLC, and Modern South Development LLC, admitted to carrying out a fraud upon real estate investors.

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