Two Dallas—Fort Worth area homes are about to be seized by feds, who claim the properties were purchased with money made through a “Ponzi-type” scheme.
A group was investigated for generating $138 million from clients under the guise of making a profit buying and selling international bonds. Instead of investing the funds, the group used the money to pay previous investors and for their own purposes, the complaint alleges.
So far, the group includes Kenneth Alexander of Axiom Financial and Vanguard Holdings Group, Caedrynn Connor of Benchmark Capital Group, Robert Welsh of FFC Capital Ventures and Christopher Fisher of Magnolia Financial Group.
The complaint filed in district court for the Eastern District of Texas claims the accused fraudsters used the proceeds from their schemes to purchase 3805 Bellaire Drive in Fort Worth and 454 Keystone Bend in Heath, a far east suburb of Dallas.
TFTWDEV Group Irrevocable Trust purchased the Fort Worth property in Oct. 2022. Alexander signed the deed for this property.
This home was built in 1939 and was valued at $767,150 in 2024, appraisal data shows.
Destiny Hunter LLC purchased the Heath property in May 2024 with a $1.94 million mortgage from AMGT Capital LLC, loan documents show. Emily Knize signed the loan agreement for the LLC.
According to the complaint, Conner bought the Heath house with the money he made selling his Dallas home, which he bought with funds “directly traceable to victim proceeds.”
The 5,400-square-foot home has five bedrooms and six bathrooms and was built in 2023. Zillow estimates the property’s market value is $1.9 million.
In June, Destiny Hunter also secured a $721,000 mortgage for 10 Sunset Trail in Rockwall, a $417,000 mortgage for 4321 Soaring Star Lane in Mesquite and a $239,000 mortgage for 1215 Paladao Drive, also in Mesquite. AMGT was the lender for all three loans.
Prosecutors are asking the district court to forfeit the Fort Worth and Heath properties.
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