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Published · transcript-backed

Matthew Cox: belief

17 Jan 2024 Lex Fridman Podcast #409 – Matthew Cox: FBI Most Wanted Con Man – $55 Million in Bank Fraud

“I can tell you exactly what I said because it’s burned in my mind. He comes in. So what Eric was doing at that time, he was actually working for us.”

— Matthew Cox

Source trail

Everything needed to verify it.

Speaker
Matthew Cox
Attribution
Verified speaker
Claim type
belief
Recorded
17 Jan 2024
Publisher
Lex Fridman Podcast

Transcript context

…I would love to hear the opener few sentences that you have with him. I can tell you exactly what I said because it’s burned in my mind. He comes in. So what Eric was doing at that time, he was actually working for us. He worked for somebody else, but periodically we’d buy a house and we’d call him up and we’d say, “Hey, can you and your boss, can you guys come over and trim the trees of this house? Trim all the trees, take all the crap in the yard, clean it up?” They go, “Yeah, sure, no problem.” Because that’s what he did, worked for a handyman service. So they would come and they’d clean it up and they’d do that. So I said, “Can you come over?” And he goes, “Yeah.” So he comes to the office, whatever, a few hours later, and he comes in the conference room. I said, “Hey, Eric, what’s going on?” And he says, “How’s it going?” I said, “Listen, I’m going to tell you something. I need a favor.” He’s like, “Okay, cool. What is it?” I said, “You know all these houses we’ve been having you go and clean up?” He’s like, “Yeah.” “You painted that one house. You did this.” “Yeah, yeah, yeah. I know. I know.” “Right. So here’s what we’ve been doing. I’ve been buying these houses for $50,000, recording them for 200, and then I have these fake people buy them.” And I explain, I just lay it out for him and he’s like, “Wow.” He’s like, “Fucking, bro, that’s ingenious, man. That’s smart.” Like, “Wow.” I was like, “Okay. Yeah, I know. That’s great. So here’s the thing.” I said, “The title company, who’s been closing some of these loans, and we have a closing in a couple of days, she wants this guy James Red to show up, and I need someone to show up as James Red.” And he goes, “Wow.” He goes, “Who are you going to get to do that?” And I was just thinking just like, “You’re not understanding. I’m not confiding in you because I need a friend.” And I looked at him, I said, “Well, I was thinking you might do it.” He was like, “That’s a big favor.” I said, “It is a big favor.” “I could be in a lot of trouble.” And I said, “I know.” And he goes, “Well, wait a minute. I can’t go.” He said, “You have to give these people a driver’s license. You said the driver’s licenses, you were using mugshots. You said she’s closed a couple of these. She’s seen this guy’s picture.” And I go, “She has seen his picture.” I said, “The thing is for James Red, I pulled the mugshot offline of you when you were arrested a couple of years ago.” And he jumps up and he goes, “You motherfucker.” And I go, “Whoa, whoa.” I said, “Eric, wait a minute. Hold on, hold on.” I said, “Listen, I only did that because I knew if it came down to this moment, you were the only person that I knew that could pull this off, that’d have the balls to walk in and do it.” And he sat there and he went, “Yeah, you’re right. You’re right.” And I couldn’t believe he fell … Listen, this guy would beat the brakes off me. this off, that’d have the balls to walk in and do it.” And he sat there and he went, “Yeah, you’re right. You’re right.” And I couldn’t believe he fell … Listen, this guy would beat the brakes off me. He’s like five ten, five eleven. He’s boxed. He’s a big guy. So it’s like I’ve weathered that part of the storm. And he sat there and he goes, “Right, right.” And he goes, “Well, I’m not doing it for free. I’m not doing it for nothing.” I said, “No, bro, of course not.” He’s like, “You’re making a lot of money.” I said, “Well, keep in mind a lot of that money goes back in the property. It’s not like we’re walking away with” … I think I said tens of thousands. We’re really walking away with hundreds of thousands. “It’s not like we’re walking away with a bunch of money, Eric. We got to buy more properties. We got to keep it going. We got to make the payments.” “I know but still I could get in a lot of trouble.” I said, “I understand, bro.” I go, “Well, what do you want?” And I remember thinking if he asked for more than 10 or 15,000, I’ll do it myself. We’ll just change title companies and we’ll go and I’ll do it myself. And he sat there and he went, “I want $500.” And I went “$500?” Listen, I almost started laughing. I put my hand over my mouth. I was like, “$ 500? It’s going to take you 30 minutes.” And he’s like, “I don’t care, bro. I could get in a lot of trouble.” I was like, “Well, I’m not paying you now. You got to sign first.” And he’s like, “Oh, you know I’ll sign. I’ll sign. I know you’re good for it.” For 500 bucks. I made a fake ID for him. He goes into the place, he signs James Red. Comes out. What was funny about that was when we walked into the title company, we’re sitting in the lobby and Mary comes walking out, she looks at me and she goes, “Mr. Cox. I don’t know why you’re here.” She goes, “I told Kelly” … that was the broker … “I told the broker that I’m not closing the loan unless James Red shows up.” And Eric stands up on cue and he goes, “I’m James Red.” And she goes, “Hold on a second.” She runs in the back, comes back with a file, opens it up, looks at the picture, and she’s like, “Oh, I’m so sorry. Give me five minutes. I’ve got the file.” Prints up the docs. He goes in, signs. And when we’re there, she’s passing out the checks, 5,000 here, 25,000 here, 35,000 here, 7,000 here, 6,000 here. So he sees all these checks and I’m like, “Oh, I got that. I have the construction company. No, no, no, I have that. I’ll take care of that. I’ll take care of that.” So I get all the checks and I leave. We go sit in my Audi and he sits down and he’s like, “Bro, that’s a lot of money.” “A lot of that money goes back into the properties, Eric.” And he’s like, “Ah, still, bro.” And I counted out 500 bucks. But listen, a week later-…

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