Robert V. Matthews, formerly a high-profile hotel developer, has started his prison sentence after pleading guilty to felony fraud, money laundering, and tax evasion in the Palm House Hotel fraud case. The case involved the defrauding of 61 EB-5 investors. Matthews misappropriated the $30 million raised for personal expenses, including luxury items and clearing debts. Matthews was sentenced to 65 months in prison. The court has yet to determine any restitution for the defrauded investors.
Palm Beach Daily News article (subscription required)
