Kent Maerki, 78, of Scottsdale, Ariz., was recently sentenced to 16 years in prison for his role in a nationwide investment fraud conspiracy. The scheme bilked investors out of over $23 million.
According to a news release from the U.S. Department of Justice, Maerki founded two companies – Dental Support Plus Franchise, LLC, and Janus Spectrum, LLC – and made many misrepresentations about those entities when he was soliciting investments in the businesses.
Maerki and his conspirators sold purported “franchises” and “private equity” opportunities in these entities, selling investors illiquid, highly speculative investment products.
According to the press release, Maerki targeted people who were at our near retirement age:
“Many of the victims targeted in this scheme were elderly. Unsuspecting investors cashed out 401(k) retirement plans and other retirement accounts to invest in companies founded by Maerki, without knowledge that significant portions of their money were being transferred to other companies controlled by members of the conspiracy. As a result, some individual investors—including investors who were blind, disabled, or otherwise unable to return to work—lost hundreds of thousands of dollars from their retirement savings. The total amount of victim losses from this scheme exceeded $23 million, and over $4 million of those fraudulently obtained funds went to Maerki.”
If you believe that you may have suffered financial losses due to the misconduct of a financial professional, we may be able to help. Our lawyers will review your investments, analyze your specific situation, and provide you with our opinion as to whether or not you may have a viable claim, free of charge.
Please contact us to discuss your potential claims.