Angelina County man sentenced for $9 million fraud scheme

Summary

Federal press release datelined Beaumont, Texas in which U.S. Attorney Jay R. Combs announces that Matthew Jess Thrash, 50, of Lufkin, pleaded guilty to two counts of wire fraud and was sentenced by U.S. District Judge Marcia A. Crone on January 6, 2026 to 97 months in federal prison and $8,100,024 in restitution. After a December 2020 fraud report, an investigation described to the judge found Thrash obtained over $9 million from over 100 victims through sports investments, a Las Vegas cannabis store and loans from victims. The release says he also applied for COVID relief loans to which he was not entitled.

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Full text

BEAUMONT, Texas – A Lufkin man has been sentenced for federal violations related to a fraud scheme in the Eastern District of Texas, announced U.S. Attorney Jay R. Combs.

Matthew Jess Thrash, 50, pleaded guilty to two counts of wire fraud and was sentenced to 97 months in federal prison by U.S. District Judge Marcia A. Crone on January 6, 2026. Thrash was also ordered to pay restitution of $8,100,024.

According to information presented in court, in December 2020, law enforcement received a report of suspected fraud. An investigation revealed Thrash obtained over $9 million 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 to avoid detection.

This case was investigated by FBI’s Lufkin Field Office, the Texas Department of Public Safety in Lufkin, and the Lufkin Police Department. This case is being prosecuted by Assistant U.S. Attorney Lauren Gaston.

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