{"id":276232,"date":"2026-09-01T03:22:16","date_gmt":"2026-09-01T03:22:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/276232\/"},"modified":"2026-09-01T03:22:16","modified_gmt":"2026-09-01T03:22:16","slug":"central-pennsylvania-man-sentenced-for-defrauding-750k-from-investors","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/276232\/","title":{"rendered":"Central Pennsylvania man sentenced for defrauding $750K from investors"},"content":{"rendered":"<p class=\"mb-4 text-lg md:leading-8 break-words\">LANCASTER COUNTY, Pa. (WHTM) &#8212; A central Pennsylvania man who posed as a wealthy businessman to defraud investors out of $750,000 will be spending a little more than six years in prison, according to the Department of Justice.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Matthew Addy, 47, of Lancaster, was also sentenced Monday by United States District Judge John Gallagher to spend three years of supervised release, the DOJ said. In April, <a data-ylk=\"slk:Addy pleaded guilty;elm:context_link;itc:0;sec:content-canvas;\" data-yga=\"{&quot;yLinkElement&quot;:&quot;link&quot;,&quot;yLinkElementType&quot;:&quot;article_link&quot;}\" href=\"https:\/\/www.abc27.com\/local-news\/lancaster-man-pleads-guilty-to-federal-charges-in-fraud-scheme\/\" rel=\"noopener noreferrer nofollow\" target=\"_blank\">Addy pleaded guilty<\/a> to 13 counts of wire fraud, a count of bank fraud and two counts of aggravated identity theft.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Addy claimed he was the operator of &#8220;the Yarah Group&#8221; and that it was worth more than $200 million.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">He was able to persuade one victim to let him run the victim&#8217;s business, then he made multiple loans and investments into &#8220;the Yarah Group,&#8221; according to prosecutors. He also never paid back any loans he applied for and received for one of the victims&#8217; businesses, which he also did without the victim&#8217;s consent.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Addy defrauded a total of $722,496 from the victim, the DOJ said.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">He also persuaded another victim to make a short-term loan to a contractor through his business, &#8220;Yarah Holdings PLC.&#8221; He promised the victim that if they funded about $25,000 of the loan, he would repay $30,000, but he instead spent the money for his own use.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">[sailthru_widget name=&#8221;Sailthru Widget Block&#8221; sailthru_list=&#8221;Evening News&#8221; title=&#8221;abc27 Evening Newsletter&#8221;]<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The DOJ said Addy also defrauded a Pennsylvania credit union of $8,500.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Addy will also have to pay a $1,000 fine, a $1,600 special assessment and restitution.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<a data-ylk=\"slk:For the latest news, weather, sports, and streaming video, head to ABC27.;elm:context_link;itc:0;sec:content-canvas;\" data-yga=\"{&quot;yLinkElement&quot;:&quot;link&quot;,&quot;yLinkElementType&quot;:&quot;article_link&quot;}\" href=\"https:\/\/www.abc27.com\" rel=\"noopener noreferrer nofollow\" target=\"_blank\">For the latest news, weather, sports, and streaming video, head to ABC27.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"LANCASTER COUNTY, Pa. (WHTM) &#8212; A central Pennsylvania man who posed as a wealthy businessman to defraud investors&hellip;\n","protected":false},"author":2,"featured_media":276233,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[115871,42437,15919,115873,28,30,29,115872],"class_list":["post-276232","post","type-post","status-publish","format-standard","has-post-thumbnail","category-pennsylvania","tag-addy","tag-doj","tag-john-gallagher","tag-matthew-addy","tag-pennsylvania","tag-pennsylvania-headlines","tag-pennsylvania-news","tag-yarah"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/276232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=276232"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/276232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/276233"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=276232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=276232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=276232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}