Matthew Acquah, a 24-year-old from Los Angeles, has been sentenced to three years in federal prison for defrauding Utah-based credit unions. The ruling, delivered by Chief District Judge Robert J. Shelby, includes three years of supervised release and a requirement for Acquah to pay $452,000 in restitution.
Acquah pleaded guilty in January 2025 to charges of bank fraud, conspiracy to commit bank fraud, and aggravated identity theft. In court, he admitted to using fake identification documents to open lines of credit in the names of unsuspecting victims and withdrawing cash without authorization. He was involved in orchestrating a series of bank fraud operations in Utah, working with accomplices from out of state. Prosecutors noted that Acquah was known to his coconspirators by the names "Scamdaddy" or "Playboy Prince."
The fraudulent activities, conducted between December 2023 and June 2024, generated over $450,000 in illicit profits from Utah credit unions. Court documents reveal that Acquah used these funds to maintain an opulent lifestyle, which included living in a downtown Los Angeles apartment and owning a luxury vehicle. Authorities discovered $100,804 in cash at his apartment and a storage unit, which will be returned to the fraud victims.
The investigation was a collaborative effort involving Homeland Security Investigations and the Taylorsville City Police Department. The case was prosecuted by Assistant United States Attorney Tanner Zumwalt from the U.S. Attorney’s Office for the District of Utah.
