An Angelina County man has entered a guilty plea on federal charges for running various fraudulent schemes. Matthew Jess Thrash, a 49-year-old from Lufkin, faced the justice system on May 12 when he admitted to two counts of wire fraud before U.S. Magistrate Judge Zack Hawthorn, as reported by the U.S. Attorney's Office for the Eastern District of Texas.
Investigations that began in December 2020 unravelled a web of deceit Thrash spun to dupe over a hundred victims, snaring approximately $9.17 million in the process. His list of fraudulent activities ranged from sports-related investment frauds to a Las Vegas cannabis store and falsified loan applications. Among the victims of Thrash's schemes were those who invested in what they believed to be legitimate enterprises, and the federal government, when Thrash secured a Paycheck Protection Program loan under the guise of needing COVID relief funds, according to the U.S. Attorney's Office.
Instead of using the funds for their intended purposes, Thrash gambled them away, paid his personal expenses, and, in a cyclical chain of deceit, repaid some victims to sidestep detection, as described by the U.S. Attorney's Office. The seriousness of Thrash's crimes weighs heavily, with the potential of a 30-year federal prison sentence looming over his head. Additionally, he may be required to pay a substantial fine and restitution.
The court will set a date for sentencing after the U.S. Probation Office conducts a presentence investigation. While the statute allows for a sentence of up to 30 years, the final decision will be at the discretion of the court after considering the advisory sentencing guidelines and other statutory factors. The FBI's Lufkin Field Office, the Texas Department of Public Safety, and the Lufkin Police Department led the investigation that brought Thrash's criminal activities to light. Assistant U.S. Attorney Lauren Gaston is handling prosecution of the case, as per the U.S. Attorney's Office.
As this legal chapter closes on Thrash's actions, his victims await restitution and the justice system prepares to deliver a sentence fitting the breach of trust, and the magnitude of the fraud committed. The full account of Thrash's schemes and the case's progression is detailed on the U.S. Attorney's Office for the Eastern District of Texas website.
