Franklin County Man Admits Guilt in $2M Fraud Scheme
JOHNSTOWN, Pa. - A resident of Chambersburg, Pa., pleaded guilty in federal court to charges of wire fraud, Acting United States Attorney Soo C. Song announced today.
Douglas A. Stahl, age 54, of Chambersburg, Pa., pleaded guilty to seven counts before United States District Judge Kim R. Gibson.
In connection with the guilty plea, the United States presented information to the Court which established that between January 2008 and December 2013, Stahl devised and executed a scheme to fraudulently obtain more than $2 million dollars from various investors.
Judge Gibson scheduled sentencing for April 27, 2017, at 10 a.m. The law provides for a maximum total sentence of 140 years in prison, a fine of $1,750,000 or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney John J. Valkovci, Jr., is prosecuting this case on behalf of the government.
The Federal Bureau of Investigation, and the Pennsylvania State Police conducted the investigation that led to the prosecution of Stahl.