The real estate developer, whose limited experience did not deter the state from believing she could transform 220 acres in Laconia into a massive housing, medical, and business complex, was sentenced Wednesday to 2 1/2 years in federal prison for wire fraud.
Robynne Alexander, 64, pleaded guilty to defrauding nearly two dozen investors of $3 million by promising them shares in her various real estate developments. One of those developments was “Legacy at Laconia,” a project that never got off the ground, after Alexander failed to pay the state the $21.5 million she offered for the former Laconia State School property.
Alexander faced 4 1/2 years in prison. She and a federal prosecutor asked the court to shorten that sentence.
Alexander hoped to spend a year in prison and three years on supervised release. In a court document, her lawyer cited a difficult childhood that included sexual assault and time in an orphanage. Her attorney also requested a bottom bunk for Alexander due to health issues. She has repaid $8,000 toward the $3 million she owes investors.
Judge Samantha Elliott said she would recommend the federal of Bureau of Prisons accommodate Alexander's bunk request.
Several of Alexander’s friends also urged the court to show leniency, saying she had been an invaluable real estate coach to them.
A federal prosecutor requested Alexander spend just over 2 1/2 years in prison, saying her willingness to admit her wrongdoing and plead guilty warranted less than the maximum sentence. As part of the deal, Alexander must repay the investors she defrauded $2.8 million.
The sentencing ends a three-year saga that began in 2022, when Alexander outbid several others for the Laconia property, which had most recently been a state prison campus. The state had been unable to sell the site for years.
To encourage buyers, then-Gov. Chris Sununu arranged for a law change that allowed him and the Executive Council to sidestep the usual vetting process for land deals.
State officials were not deterred when media accounts showed Alexander had a history of tax liens and foreclosures. They accommodated her requests to delay the closing several times. The deal fell apart last year after Alexander missed her final deadline.
The state found another buyer, who offered $10.5 million, but extended negotiations with Alexander delayed the site’s development. Andrew Hosmer, then Laconia’s mayor, called Alexander’s project “transformational” because the city so desperately needed the housing she promised.