SALT LAKE CITY, Utah – In a stunning turn of events, Kenny Dirk Van Der Spek, a Belgian national living in South Jordan, Utah, has been sentenced to 60 months’ imprisonment for operating a $5 million Ponzi scheme that spanned five years.
Van Der Spek, aged 36, pleaded guilty to securities fraud, wire fraud and money laundering in May 2025. His fraudulent activities resulted in approximately 75 investors losing their hard-earned savings. He admitted to using at least $3 million of the stolen funds for personal luxuries such as real estate, a 2022 Chevrolet Corvette, a personal chef, online gambling, and more.
U.S. District Court Judge has also sentenced Van Der Spek to three years’ supervised release following his prison term and ordered him to pay $4,107,282.97 in full restitution to the victims. The court also mandated the forfeiture of real property in Martinsville, Virginia, and Spanish Fork, Utah.
According to court documents, Van Der Spek was the owner and manager of K & K Strategies, LLC, which he falsely marketed as a hedge fund. Between December 2017 and November 2023, he deceived investors with false promises about the success of their investments, presenting fabricated financial records while in reality causing substantial losses.
Acting U.S. Attorney Felice John Viti of the District of Utah emphasized the severity of Van Der Spek’s crime, stating that “Stealing hard earned money from our citizens is a serious offense, and it will not be tolerated.” Robert Cummings, Director of the Utah Division of Securities, highlighted the impact on victims: “Van Der Spek’s ‘mom and pop hedge fund’ had a devastating financial impact on hardworking Utahns, exploiting them for personal gain.”
Special Agent in Charge Robert Bohls of the Salt Lake City FBI echoed sentiments of justice served, noting that “Most of the victims in this case didn’t have the money to lose, resulting in financial and emotional devastation.” The IRS-CI Acting Special Agent in Charge, Jarom G (full name not provided), concluded by emphasizing the importance of holding fraudsters accountable: “Mr. Van Der Spek chose to live a life of fraud built on the backs of hardworking Americans.”
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Key Facts
- State: Utah
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime|Organized Crime
- Source: Official Source ↗
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