In Redding, California, 44-year-oldMatthew Piercey, who owns two investment companies, was indicted for a $35 million-dollar Ponzi scheme on November 12. But when FBI agents tried to arrest him, he drove off, leading authorities on a chase through neighborhoods. He then abandoned his car and tried to escape by diving into Shasta Lake in an underwater submersible vehicle, according to court documents.
But despite theJames Bondescape attempt, he was arrested when he came out of the water 25 minutes later. Piercey is charged with wire fraud, money laundering, and witness tampering.
Piercey, who is a member of Bethel Church, used his connections to prey on fellow parishioners. He faces multiple charges that could land him in prison for up to 20 years with a 250,000 dollar fine.