newsnet5.com user locates mysterious businessman investors claim played key role in alleged scam

Cleveland homes abandoned, cash vanished

DALLAS - A tip from a newsnet5.com user led to an exclusive interview with a man investors claim played a key role in one of the largest foreclosure scams in Cleveland.

A 5 On Your Side investigation that first aired last March uncovered how a California-based company recruited investors to buy foreclosed homes in Cleveland--then abruptly closed its doors.

EZ Access Funding, based in Newport Beach, California, left behind 129 foreclosed homes in Cleveland and a trail of angry investors who claim those running the company vanished into thin air.

But now, thanks to a newsnet5.com user, one of the businessmen associated with EZ Access Funding was found  in Texas where he gave NewsChannel5 an exclusive interview that will air Monday at 11.

Michael Alexander has been sought for more than two years by angry investors and a former business partner who claim he disappeared with millions of dollars.

It's not the first time that Alexander has disappeared.

Twenty-five years ago, court records show he vanished in North Carolina after his boat was found sunk off the coast.

He later pleaded guilty to insurance fraud.

The newsnet5.com user saw our exclusive series of reports detailing Alexander's role in the foreclosure scheme and provided key information on his whereabouts.

Our nationwide search began in southern California, then Philadelphia and onto to Dallas, Texas before finally catching up with Alexander outside an office complex where he has launched another business enterprise.

In our exclusive report, Alexander details what he knows about the alleged fraud, his role in the company -- and where the money wound up.

But Alexander denied any wrongdoing, but cut short the interview when asked about that North Carolina insurance fraud case.

"I don't want to talk to you anymore," said Alexander when pressed about details.

Watch Chief Investigator Ron Regan's story Monday night on NewsChannel5 at 11.

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