What led Matthew Cox into fraud?

Matthew Cox's descent into fraud started with desperation for money, initially driven by financial needs. Over time, his motivations twisted towards the thrill of the challenge and the enjoyment of outsmarting systems which he viewed as a display of creativity, intelligence, and ultimately sheer narcissistic arrogance. Cock relished in the idea that he could commit fraud so seamlessly and that the financial institutions were powerless in stopping him. This psychological thrill and perceived intelligence fed into his ego, making him feel superior 1.

Moreover, as he became involved in the mortgage business, where a considerable amount of transactions involved fraud, the fraudulent actions evolved into a game of creativity for Cox. He described feeling emboldened with each successful scam, leading to further and more elaborate fraudulent activities, including creating fake banks and manipulating financial documents 2.