The U.S. Securities and Exchange Commission charged Manchester, N.H. resident Robynne Alexander with defrauding investors through real estate investment schemes resulting in investor losses of at least $3 million, according to an SEC news release.
According to the SEC’s complaint, from 2018 through 2024, Alexander solicited investors to buy securities in real estate investment projects for multiple properties in New Hampshire and Massachusetts, that she represented she would buy, renovate and sell for a profit. But Alexander defrauded investors by instead using a substantial amount of investor money to pay fictitious investment returns to certain favored investors, to repay some investors and lenders in unrelated projects, and as her primary means of paying her personal expenses.
(Editor’s note: Alexander was chosen as the top bidder in 2022 to buy the former Laconia State School property for $21.5 million, but that deal fell apart when she could not come to the table with the cash after three delays in closing. Alexander’s Legacy at Laconia LLC had an ambitious plan for housing and retail on the tract.)
The SEC’s complaint, filed in the United States District Court for the District of New Hampshire, charges Alexander with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder.
Alexander has consented to the entry of an order permanently enjoining her from violating the charged provisions; enjoining her from participating in the issuance, purchase, offer, or sale of any security, and from engaging in activities for the purpose of inducing or attempting to induce the purchase or sale of any security, except for her own account; permanently barring her from serving as an officer or director of any public company; and providing that the Court to order disgorgement plus prejudgment interest and a civil monetary penalty, in amounts to be determined by the Court.
In a parallel action, the U.S. Attorney’s Office for the District of New Hampshire filed criminal charges against Alexander. The New Hampshire Bureau of Securities Regulation also filed administrative charges against Alexander.
The SEC’s investigation was conducted by Brandon Sisson, John McCann, Alfred Day, and Celia Moore of the SEC’s Boston Regional Office. The SEC appreciates the assistance of the U. S. Attorney’s Office for the District of New Hampshire, the FBI, and the New Hampshire Bureau of Securities Regulation.
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