Matthew Piercey, a Northern California businessman, pleaded guilty to fraud, money laundering, and witness tampering related to a $35 million Ponzi scheme, prosecutors announced on May 15, 2025. Piercey attempted to evade FBI agents by fleeing first in a car and then by jumping into a lake using a Yamaha underwater scooter. Despite his efforts to escape, he was apprehended and has now admitted to the charges.
Northern California business man who used underwater scooter in lake to evade arrest pleads guilty to investment fraud https://t.co/DGhOE0kmUt
🇺🇸$35M FRAUDSTER FLEES FBI ON UNDERWATER SCOOTER—GETS BUSTED, SOAKED, AND CHARGED Matthew Piercey ran a $35 million scam, cashed in big, and when the Feds came knocking—he bolted. First in a car. Then in a lake. Then underwater. His getaway vehicle? A Yamaha sea https://t.co/kjjYVob90J
California man who tried to evade arrest by jumping into a lake with an underwater scooter pleaded guilty Thursday to fraud, money laundering and witness tampering. https://t.co/Je7noUL598