Madison couple indicted - MSNewsNow.com - Jackson, MS

Madison couple indicted

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JACKSON, MS (Mississippi News Now) -

 A Madison man and his wife have been indicted on fraud charges. 

The house, 137 Calumet Drive in Madison, was swarming with FBI agents and Madison Police Friday morning and afternoon. Saturday morning, no one answered when 3 On Your Side reporter Cheryl Lasseter knocked on the door. It is the home of 49-year-old Demetrius Mathis and his wife, Jacqueline Mathis.

The pair have been indicted on two counts of fraud in a scheme to get money and property from investors identified only as "R. J." and O. N.", both citizens of Norway. Demetrius Mathis is CEO of Cash Flow Investment Services, LLC. Cash Flow's website bills itself as "your place for profitable investment properties."

 The indictment says beginning about May 2009 and continuing through about August 2009, "R. J." and "O. N." doing business as Aasgard, LLC., responded to Mathis' website. Aasgard was asked to wire $25,000 earnest money to Cash Flow to buy Westbrook Apartments in West Memphis, Arkansas.

The money was wired but the indictment says, instead of investment property, Mathis used it for personal gain; increasing cash flow into his business and diverting money from Cash Flow Investments to finance the lifestyle of Mathis and his family. Jacqueline Mathis represented herself to be the 100% shareholder of Cash Flow Investments and an authorized signor on its bank account.

Now, Demetrius and Jacqueline Mathis are being asked to forfeit this house and everything else involved in the offenses, to the United States government. .

Demetrius Mathis also operates a business called Bargain Properties, LLC located in Madison.

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