Shavertown Man Found Guilty Of Bank Fraud And Conspiracy

SCRANTON - The United States Attorney's Office for the Middle District of Pennsylvania announced that James Mahon, IV, age 66, of Shavertown, Pennsylvania, was found guilty by a federal jury on June 18, 2026, of bank fraud and conspiracy to commit bank and wire fraud.

According to United States Attorney Brian D. Miller, Mahon was the former Executive Vice President of Tammac Holdings, a Wilkes-Barre company that specialized in the origination of mortgages for manufactured housing. After originating loans, Tammac would sell loan portfolios to banks and investors while continuing to service the loans. From 2008 through 2021, Mahon and other employees of Tammac suppressed delinquency rates on loan portfolios by falsifying payments to loans and also repossessed properties without remitting the proceeds to banks and investors. Tammac executives also provided false records to auditors, banks and investors, and misrepresented the status of their loan portfolios when Tammac was sold to an investment firm in 2019.

The Federal Bureau of Investigation investigated the case. Assistant United States Attorneys Joseph J. Terz and Geoffrey W. MacArthur prosecuted the case.

Mahon faces a maximum of 60 years of imprisonment, a $500,000 fine, and a term of supervised release. A sentence following the finding of guilt is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines.

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