SAN FRANCISCO — A former Oakland man has been sentenced to five years in prison for wire fraud after he persuaded people to invest more than $650,000 in the fake bank he ran out of his apartment, the U.S. Attorney’s office announced Monday.
Matthew Hattabaugh, 32, of Tulsa, Okla., was convicted of 12 counts of wire fraud on March 30 by a federal jury. He was sentenced Monday.
Beginning in the fall of 2002, Hattabaugh told people if they wired money to his “bank,” he would issue certificates of deposit to secure their investments. Hattabaugh secured promises to invest more than $4.5 million and received more than $650,000, U.S. Attorney spokeswoman Linda Woo said.
In addition to prison time, Hattabaugh must pay $87,850 in restitution and spend three years on supervised release.
