Ryan Blumling, Wire and Mail Fraud, Pennsylvania 2023

Pittsburgh, PA – $2M Fraud Scheme Exposed

A Moon Township resident has admitted to a long-running scheme that swindled over 130 individuals out of more than $2 million, U.S. Attorney David J. Hickton announced today.

Ryan Blumling, 35, pleaded guilty to two counts of mail fraud and two counts of wire fraud in connection with the scheme. Blumling, appeared before U.S. District Court Judge Arthur J. Schwab and admitted to defrauding investors who thought they were putting money into coal mines and borrowers seeking loans.

According to information presented to the court, Blumling engaged in the scheme from 2005 to 2014. He made false representations and failed to use funds consistent with the promises he made to investors. Blumling used the funds for personal expenses or to pay off previous investors who were threatening to sue him.

In one instance, Blumling secured two wire transfers totaling $90,000 from an investor on the same day. At the time, he had approximately $200 in his bank account. He used the funds to purchase a new Range Rover, which he traded in on a new Lexus that he put into his wife’s name.

The investigation conducted by the FBI showed that Blumling sent an email to a potential borrower, assuring him that he had access to enough money to fund a loan of over $7,000,000. However, the attached bank statement showed a balance of zero, revealing Blumling’s scheme.

The law provides for a maximum total sentence of up to 20 years in prison, and a fine of up to $250,000 or both at each of the four counts. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

The Federal Bureau of Investigation conducted the investigation leading to the guilty plea in this case. Blumling’s actions have left over 130 victims with more than $2,000,000 in losses.

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