A Scottsdale man was sentenced in U.S. District Court in Norfolk, Virginia on March 15 to 16 years in prison for his role in a nationwide mail and wire fraud scheme that cost victims tens of millions of dollars.
Kent Maerki, 78, pleaded guilty in November to conspiring to mail and wire fraud in two investment schemes.
Maerki is the founder of Dental Support Plus Franchise LLC and Janus Spectrum LLC. According to government officials, Maerki and his conspirators used a team of salesmen to solicit investments and misrepresent the two businesses regarding investment opportunities for over five years.
According to court documents, Maerki and his conspirators sold Dental Support Plus as an annuity for retirement where $20,000 could be invested and within 180 days, the franchise would pay that individual up to $200 a month. Maerki and his conspirators would then loot the investor funds so that when the investments all failed, investors were left with nothing.
Read more of this subscription-only story from the Business Journal.
