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A supposed real estate investor who ran a podcast dubbing himself the “Cash Flow King” was really fueling his business by running a Ponzi scheme, according to new charges filed this week by the U.S. Securities and Exchange Commission.

Matt Motil operated his business from Cleveland, where he was scooping up homes with money raised from smaller investors.

During his 2017-2021 run, Motil raised over $11 million from five dozen investors across the country in what the SEC called a classic Ponzi scheme that defrauded investors.

“We allege that Motil used podcasts and social media platforms to bolster his reputation as an investing expert while fraudulently targeting investors’ hard-earned retirement assets, including, in at least one instance, almost the full balance of an investor’s self-directed IRA,” said Mark Cave, associate director of the division of enforcement. “We are committed to holding those who prey on others accountable for their unlawful conduct.”

“Nearly everything about his scheme was a lie,” the SEC said.

In one case, Motil raised over $1.3 million from at least 20 investors, the SEC said. He issued the same number of promissory notes, which were all tied to one single-family house Motil bought for $47,000.

“Despite promising many investors that he would record their mortgages, Motil failed to do so,” the SEC said.

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