An Oklahoma City man is facing multiple lawsuits accusing him of running a fraudulent investment scheme that allegedly took more than $1 million from investors.
The lawsuits claim that the man promised to invest the funds through his company but instead used the money for personal expenses. Attorneys representing the alleged victims say the case involves fake financial documents, misleading investment promises, and luxury spending.
Oklahoma City Man Accused of Investment Fraud
Matthew Veazey, an Oklahoma City resident, has been accused in lawsuits of operating a fraudulent investment operation through his company, MVZ Holdings LLC.
According to court filings, several investors claim they gave Veazey large sums of money with the expectation that the funds would be invested and generate returns.
Instead, the lawsuits allege the money was used for personal spending rather than legitimate investments.
Attorney Billy Lewis, who represents one of the alleged victims, described the case as one of the most shocking scams he has seen.
Multiple Lawsuits Filed With Similar Allegations
The first lawsuit became public earlier this year. About a month later, another lawsuit was filed with nearly identical claims.
Attorney Jack McCurdy, who represents another investor, said the details in both cases appear very similar.
Both lawsuits claim that:
- Investors were asked to place money into MVZ Holdings LLC
- Veazey promised to invest the funds for returns
- The money was allegedly not invested as promised
Instead, court documents claim the funds were used to support a luxurious lifestyle.
Claims of Luxury Spending With Investor Money
According to the lawsuits, the funds were allegedly used for expensive personal purchases.
Attorneys claim Veazey and his wife used the money to support a lifestyle that included:
- Purchasing new vehicles
- Buying a home in the Gaillardia neighborhood
- Monthly credit card spending between $20,000 and $50,000
Lawyers for the victims say the couple had no significant income source other than the funds obtained from investors.
Bank Alert Led to Discovery of Alleged Scheme
One of the alleged victims reportedly discovered the situation after his bank flagged suspicious financial documents.
Attorney Billy Lewis said the investor was shown wire transfer records by Veazey as proof that money had been moved for investments.
However, the bank later determined the documents were fake.
According to Lewis, the wire transfer information included false routing numbers and fabricated transaction details.
Lewis said his client alone invested more than $1 million with Veazey.
Another Investor Claims Loss of $250,000
A separate lawsuit claims another investor placed $250,000 with Veazey.
Attorney Jack McCurdy said his client became suspicious when he repeatedly asked for investment returns and tax documents.
According to McCurdy, Veazey allegedly delayed responding and gave repeated excuses.
The investor reportedly continued asking for financial documents needed to file taxes related to the investment.
McCurdy said communication eventually stopped, raising further concerns and leading to the lawsuit.
Veazey Denies All Allegations
Matthew Veazey denies the accusations made in the lawsuits.
His attorney released a statement saying the claims are based on a misunderstanding of what actually happened.
According to the statement, Veazey believed he was communicating with a legitimate investment professional connected to his former employer.
The attorney said Veazey was unaware that anything improper was happening and did not believe he was involved in any fraudulent activity.
Investigation and Response Ongoing
contacted Veazey’s former employer regarding the claims mentioned in his legal defense.
However, no response had been received at the time of the report.
The lawsuits are still moving through the legal process, and the courts will determine whether the allegations against Veazey are supported by evidence.
