ADDISON, N.Y. (WETM) – An Addison man has been sentenced and ordered to pay almost $275,000 for wire fraud and embezzlement dating back to 1994.

Thomas Mann, 74, was sentenced to 24 months in prison by Chief U.S. District Judge Elizabeth Wolford. Mann was also ordered to pay $273,571.66 in restitution.

The sentencing and payment stem from Mann’s involvement in the Transport Investment Club, a club formed in Wellsboro in 1958 in Wellsboro, Pennsylvania. According to U.S. Attorney John Field, who handled the case, TIC originally had about 25 members.

Mann became treasurer in 1994 and was responsible for “collecting and disbursing funds, buying, and selling stocks as directed by TIC and its members, maintaining a set of books covering operations and assets, and preparing a monthly statement documenting the club’s liquidating value, which was the total value of the club’s stock holdings.”

According to John Field, by February 2020, TIC’s investments should have been worth $290,614.05, but Mann had embezzled all except $707.74.

With sole control over the TIC bank account at Citizens and Northern Bank and the investment accounts at brokerage firms, Mann was convicted of routinely embezzling funds collected at monthly meetings for his personal use. The funds were supposed to be used to purchase stocks as directed by club members, but he regularly gave members fake liquidations statements.

One of the fraud victims reportedly said “Mann’s soulless duplicity and clear cunning fooled us all,” according to the announcement.