Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
A financier has been extradited from the United Kingdom to the United States to face allegations that he cheated investors who were promised monthly gains of 10 percent in what was effectively a Ponzi scheme, authorities said.
Matthew Melton, 61, of Boulder, Colorado, remained jailed in a federal prison in Brooklyn after appearing in court Saturday to face charges of securities fraud and wire fraud. His attorney did not immediately respond to a message seeking comment.
Authorities said Melton falsely represented to at least 20 investors that his investment fund, Price Physics, used a proprietary trading algorithm to invest in futures contracts and produce record returns.
But U.S. Attorney Jay Clayton said Melton did nothing groundbreaking or cutting-edge in the scheme, which he used to finance a luxurious lifestyle from 2018 to 2020.
“In reality, Melton allegedly operated one of the world’s oldest scams, taking money from new investors to pay old ones and pocketing funds for himself along the way,” Clayton said in a statement.
Melton allegedly used some of the nearly $3.4 million he brought in to pay his mortgage and for boat trips.
Join us at the Fortune Workplace Innovation Summit May 19 and 20, 2026, in Atlanta. The next era of workplace innovation is here – and the old playbooks are being rewritten. At this exclusive and dynamic event, the world’s most innovative leaders will come together to explore how AI, humanity and strategy converge to redefine, once again, the future of work. Register now.
