Troy Wragg, Wire Fraud, Pennsylvania 2005

Troy Wragg, Wayde McKelvy, and Amanda Knorr Indicted in $54 Million Ponzi Scheme

PHILADELPHIA, PA – An indictment was unsealed today charging three people in an investment scheme that defrauded over 300 investors from around the country.

Troy Wragg, 34, a former resident of Philadelphia, PA, Amanda Knorr, 32, of Hellertown, PA, and Wayde McKelvy, 52, of Colorado, are charged with conspiracy to commit wire fraud, conspiracy to commit securities fraud, securities fraud, and seven counts of wire fraud, announced United States Attorney Zane David Memeger and FBI Special Agent-in-Charge William F. Sweeney, Jr.

As the founders of the Mantria Corporation, Wragg and Knorr allegedly promised investors huge returns for investments in supposedly profitable business ventures in real estate and “green energy.”

Between 2005 and 2009, Wragg, Knorr, and McKelvy, through Mantria, intended to raise over $100 million from investors through Private Placement Memorandums (PPMs). In actuality, they raised $54.5 million.

The indictment alleges that Wragg and Knorr repeatedly made false representations and material omissions about the economic state of their businesses to induce investors to invest funds.

“The scheme alleged in this indictment offered investors the best of both worlds – investing in sustainable and clean energy products while also making a profit,” said Memeger. “Unfortunately for the investors, it was all a hoax and they lost precious savings. These defendants preyed on the emotions of their victims and sold them a scam.

Troy Wragg, Wayde McKelvy, and Amanda Knorr are charged with the following crimes:

Conspiracy to commit wire fraud

Conspiracy to commit securities fraud

Securities fraud

Seven counts of wire fraud

The indictment alleges that Wragg and Knorr spent a considerable amount of the investor money on projects to give investors the impression that they were operating wildly profitable businesses.

A receiver was appointed by the court to liquidate what few assets Mantria owned after the SEC initiated civil securities fraud proceedings against Mantria in Colorado.

Troy Wragg, Wayde McKelvy, and Amanda Knorr continue to face charges in this ongoing case.

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