⏱ 2 min read
Lancaster, PA – Matthew James Addy, a 47-year-old local businessman, lied his way into swindling two victims out of over $722k. He claimed to be a wealthy investor with a successful consulting business in Beverly Hills, California.
Between January 2020 and July 2022, Addy targeted one victim, inducing them to hire him to run their business and make multiple loans and investments in his fake company, ‘the Yarah Group.’
Addy also applied for and received loans in the name of the victim’s other business without their knowledge or consent, eventually defaulting on the debt.
In a second scheme, Addy targeted a second victim, claiming to be a diamond dealer and convincing them to invest in his fake business.
On Thursday, Addy pleaded guilty to 13 counts of wire fraud, one count of bank fraud, and two counts of aggravated identity theft.
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📋 Key Facts
- Crime: White Collar Crime
- Defendant: Pennsylvania
- Location: PA
- Source: DOJ Press Release
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