A Manchester woman has admitted guilt in a federal court for her role in a fraudulent real estate investment scheme, according to Acting U.S. Attorney Jay McCormack.
Robynne Alexander, 63, pleaded guilty to one count of wire fraud. Her sentencing is scheduled for October 15, 2025, by U.S. District Court Judge Samantha D. Elliott.
The charges reveal that Alexander, who was previously a real estate investment coach, started raising funds from her clients in 2018 for a New England real estate venture named Raxx-LeMay, LLC. Despite assurances to acquire and renovate two commercial properties in Manchester, she raised only $700K of the required $2M by May 2018. According to her agreement with investors, if the minimum amount wasn’t raised by that deadline, they were entitled to their money back with interest. However, she failed to return the funds and used them improperly instead.
Alexander used investor capital across multiple projects without proper authority or disclosure over several years. In early 2022, she transferred Raxx-LeMay properties to another entity under her control without investor approval, resulting in total losses of about $850,000 for investors. In another project involving Elm and Baker, LLC., she misused more than half of the solicited $750,000 meant for converting a Manchester property into apartments leading to foreclosure in 2023.
Additionally, she misappropriated at least $75,000 from a large-scale resort project in Laconia after receiving $250,000 from investors but failing to close on the property. Across at least eight ventures involving at least 24 investors defrauded approximately $3 million.
The statute under which Alexander was charged provides for up to 20 years imprisonment and a supervised release term of up to three years along with a maximum fine of either $250K or twice the pecuniary gain – whichever is greater – based upon federal sentencing guidelines.
The Federal Bureau of Investigation led this investigation while valuable assistance came from both Securities Exchange Commission as well as New Hampshire’s Bureau Securities Regulation; Assistant U.S Attorney John J Kennedy will be prosecuting this case.
