‘Scamdaddy’ funded ‘lavish lifestyle’ with Utah bank fraud ring money, feds say
A man known as “Scamdaddy” and “Playboy Prince” is headed to prison in connection with helping run a bank fraud ring that brought in more than $450,000, federal prosecutors in Utah said.
Matthew Acquah, of Los Angeles, was sentenced to 36 months behind bars and three years of supervised release after pleading guilty to bank fraud conspiracy, bank fraud and aggravated identity theft, the U.S. Attorney’s Office for the District of Utah said in an April 1 news release.
He also must pay $452,000 in restitution, prosecutors said.
McClatchy News reached out to Acquah’s attorney April 3 and was awaiting a response.
According to prosecutors, Acquah, now 24, “admitted that he used fraudulent identification documents to open lines of credit on behalf of unwitting victims and then take out unauthorized cash advances.”
In addition, he “admitted helping plan and execute numerous bank fraud sprees in Utah involving out-of-state coconspirators,” prosecutors said.
Prosecutors described the operation as “sophisticated” in a court filing and said it ran from late 2023 to mid-2024.
Acquah called himself “Scamdaddy” and “Playboy Prince” in messages with others involved in the ring, and he “took a leading role directing the fraud spree,” the filing said.
He “arranged airfare for coconspirators, booked hotel rooms, facilitated vehicles and drivers, trained new recruits, and performed other management functions for the bank fraud ring,” according to prosecutors.
The ring netted more than $450,000 from Utah credit unions, and “Acquah used his share to fund a lavish lifestyle, including an apartment in downtown Los Angeles” and a Tesla, prosecutors said.
When Acquah was arrested, he had “$100,804 in U.S. currency split between his apartment and an offsite storage unit, which will be used to repay victims,” prosecutors said.
This story was originally published April 3, 2025 at 12:51 PM with the headline "‘Scamdaddy’ funded ‘lavish lifestyle’ with Utah bank fraud ring money, feds say."
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