Kent Maerki, Elder Fraud Scheme, Virginia 2021

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Table of Contents

Norfolk Man Pleads Guilty to Multi-Million Dollar Elder Fraud Scheme

Kent Maerki, 78, of Scottsdale, has pleaded guilty to a massive investment fraud conspiracy that cost victims tens of millions of dollars.

According to court documents, Maerki, the founder of Dental Support Plus Franchise, LLC, and Janus Spectrum, LLC, made a multitude of misrepresentations about those businesses in materials used to solicit investments, including during appearances on radio shows and in a presentation about investments in wireless spectrum he called ‘Money From Thin Air.’

Maerki acknowledged that he and his conspirators used a team of salesmen to solicit investments in extremely risky businesses that ultimately failed; made numerous material misrepresentations about the claimed investment opportunities; and continued to sell the investments without disclosing that the Securities and Exchange Commission, the Virginia State Corporation Commission, and the Arizona State Corporation Commission were investigating the conspirators for fraud.

Many of the victims in this scheme were elderly and losses exceeded $23 million, over $4 million of which went to Maerki.

Maerki pleaded guilty to conspiring to commit mail and wire fraud related to two investment schemes. He faces a maximum penalty of 20 years in prison when sentenced on March 15, 2021.

Combatting elder abuse and financial fraud targeted at seniors is a key priority of the federal government. Elder abuse is an intentional or negligent act by any person that causes harm or a serious risk of harm to an older adult. It is a term used to describe five subtypes of elder abuse: physical abuse, financial fraud, scams and exploitation, caregiver neglect and abandonment, psychological abuse, and sexual abuse.

Elder abuse is a serious crime against some of our nation’s most vulnerable citizens, affecting at least 10 percent of older Americans every year.