A Chambersburg man has admitted guilt in a massive $2 million fraud scheme that spanned nearly a decade.
Douglas A. Stahl, 54, pleaded guilty to seven counts of wire fraud in federal court before United States District Judge Kim R. Gibson.
Prosecutors allege that between January 2008 and December 2013, Stahl devised and executed a scheme to fraudulently obtain more than $2 million from various investors.
The investigation into Stahl’s activities was a joint effort between the Federal Bureau of Investigation and the Pennsylvania State Police.
Assistant United States Attorney John J. Valkovci, Jr., is prosecuting the case on behalf of the government.
Stahl is scheduled to be sentenced on April 27, 2017, at 10 a.m. and faces a maximum total sentence of 140 years in prison, a fine of $1,750,000 or both.
The actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant, according to the Federal Sentencing Guidelines.
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- No Defendant Name Found, Bank Fraud Scheme, USA, 2022 · New York
- Marc Henry Menard, Investment Fraud Scheme, Mineola NY, 2023 · Georgia
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Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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