Ex-Contractor Matthew Banks Faces New Charges Amid Ongoing Fraud Cases

PENSACOLA, Fla. — Former Northwest Florida contractor Matthew Banks is closer to a resolution in one of his 13 fraud cases as prosecutors added a charge of grand theft over $20,000 during a hearing yesterday. This new allegation follows claims that Banks repeatedly accepted 50-percent down payments for contracting jobs without completing any work. Prosecutors compared his actions to a Ponzi scheme. The case centers on John Mayfield, who says he paid Banks more than $61-thousand dollars for a home renovation that was never finished. With previous charges including racketeering and organized fraud, Banks faces a potential prison sentence of up to 95 years if convicted. The trial will proceed without a jury, following Banks’ decision to waive that right.