OKC Man Charged in $3M Fraud Scheme

Federal indictment alleges Matthew Veazey defrauded friends and family over several years.

Apr. 11, 2026 at 2:08am

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An extreme close-up of a crumpled, torn financial document reflecting a harsh, direct camera flash, conceptually illustrating the devastating impact of financial fraud.A stark, gritty close-up of evidence from a multi-million dollar fraud scheme that exploited the trust of friends and family.Oklahoma City Today

A federal grand jury has charged Matthew Veazey, an Oklahoma City resident, with 30 counts including wire fraud, money laundering, and identity theft. The charges stem from a multi-year scheme where Veazey allegedly defrauded friends, family members, and other investors of over $3 million.

Why it matters

This case highlights the devastating impact that financial fraud can have on close-knit communities. Veazey is accused of exploiting the trust of those closest to him for personal gain, raising concerns about the need for stronger safeguards to protect vulnerable investors.

The details

According to the indictment, Veazey solicited investments from friends and family members by falsely claiming he could generate high returns through various business ventures. Instead, he allegedly used the funds for personal expenses and to pay off earlier investors in a Ponzi-like scheme. Prosecutors say Veazey also stole the identities of some victims to open fraudulent bank accounts.

  • The alleged fraud scheme took place over several years, from 2018 to 2025.
  • Veazey was indicted by a federal grand jury on April 10, 2026.

The players

Matthew Veazey

A 42-year-old Oklahoma City resident charged with 30 federal counts of wire fraud, money laundering, and identity theft for allegedly defrauding friends and family members of over $3 million.

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What they’re saying

“This case is a sobering reminder that financial predators can lurk within our own communities, exploiting the trust of those closest to them.”

— U.S. Attorney Timothy J. Downing, U.S. Attorney for the Western District of Oklahoma

What’s next

Veazey faces up to 20 years in prison for each wire fraud count, up to 10 years for each money laundering count, and up to 15 years for each identity theft count. He is currently being held without bond pending trial.

The takeaway

This case highlights the importance of thorough due diligence and skepticism when considering investment opportunities, even from trusted sources. Experts advise verifying credentials, checking for red flags, and never investing more than one can afford to lose.