Source: US FBI
BEAUMONT, Texas – A Lufkin man has pleaded guilty to federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.
Matthew Jess Thrash, 49, pleaded guilty to two counts of wire fraud on May 12, 2025, before U.S. Magistrate Judge Zack Hawthorn.
According to information presented in court, in December 2020, law enforcement received a report of suspected fraud. An investigation revealed Thrash obtained approximately $9,170,124 from over 100 victims through fraudulent means, including sports related investment schemes; a Las Vegas cannabis store scheme; and loans from victims. Thrash also fraudulently obtained money by applying for COVID relief loans to which he was not entitled, including a Paycheck Protection Program (PPP) loan. The PPP was a Small Business Administration program that provided forgivable loans to qualifying entities. Thrash did not invest or use the fraudulently obtained funds for the intended purposes. Instead, he used the money to gamble, pay personal expenses, and to repay other victims in an attempt to avoid detection.
Thrash faces up to 30 years in federal prison, a potential fine, and restitution at sentencing. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.
This case is being investigated by FBI’s Lufkin Field Office, the Texas Department of Public Safety, and the Lufkin Police Department. This case is being prosecuted by Assistant U.S. Attorney Lauren Gaston.
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