Multimillion Dollar Scam Artist Flees Cops On Underwater Scooter
A multimillion-dollar scam artist fled from the cops on an underwater scooter, which led to a very interesting chase. Matthew Piercey ran this whole operation, but when he was caught, he did the first thing that came to mind. So, how did they ultimately catch him? Keep reading for more details.
Multimillion Dollar Scam Artist Flees Cops On Underwater Scooter
After scamming people out of thirty-five million dollars in five years, Matthew Piercey’s number was up. He was able to get investor money, and between 2015 and 2020, he went on a spending spree. Per the U.S. Attorney’s office, Matthew used these millions for business/personal expenses, plus payment for a criminal defense firm. He also went on to buy two residential properties, but was caught in 2020, and that was when things took a turn. Matthew was to be arrested by FBI agents, but he did not care for that, so he fled.
He did not want to get caught by any means, so Matthew sped away in a car. Matthew went through the streets and the highways, but decided he had another trick up his sleeve. That was when he pulled out a Yamaha 350LI underwater submersible device, aka an underwater scooter. As for how long Matthew was out of sight, documents stated this detail:
“Piercey spent some time out of sight underwater where law enforcement could only see bubbles.”
It is unclear if he brought underwater gear with him so he could stay submerged longer, but it seems he spent some time there.
The scooter runs under $600, so it was a decent investment for the price Matthew Piercey paid. Divers will tend to utilize them, but they do not run fast. Rather, they go around four miles per hour. He did ask people to remove his items that he had stored away, but when the FBI made it to his storage unit, Matthew had roughly $37K. Matthew scammed so many, as Special Agent Sid Patel shared. He went into more detail about Matthew Piercey’s crimes and the severity:
“Many invested their life savings with Matthew Piercey’s companies, not knowing that the claim of guaranteed returns were the empty promises of a Ponzi scheme. The FBI agents, forensic accountants, and other specialized personnel work tirelessly to ensure those who exploit the trust of a hopeful public will face serious consequences.”
He Pleads Guilty
After his great escape, Matthew Piercey did plead guilty. As of now, he will be sentenced in September 2025 and faces up to twenty years in prison. However, it must be noted that he has paid back $8.8 million already, but it is unclear if he plans to pay more. There are also no details as to what happened to his scooter once it was submerged. This is the most interesting way to flee, and it seems Matthew knew what was coming as he had the scooter ready and raring to go.
What do you think of Matthew’s great escape, and are you shocked at his creativity? Let us know in the comments below.
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