A Pella man federally indicted on 24 charges related to ongoing fraud has accepted a plea agreement.
Mark Alan Blankespoor was charged with twelve counts of mail fraud and twelve counts of wire fraud, and pled guilty to one count of wire fraud, according to documents filed in federal court Monday. KNIA/KRLS has reached out to Blankespoor’s attorney for a statement, and Attorney Guy Cook sent the following:
“Mark Blankespoor is a respected physical therapist, certified health coach, and successful businessman. He has been so for more than twenty years. Blankespoor plead guilty to one count of fraud of a 24 count indictment before U.S. Magistrate Judge Celeste Bremer. He did so to accept responsibility for his actions and an investment effort that failed. The plea follows an agreement reached with the government.”
The government agreed Blankespoor will receive credit at sentencing for his acceptance of responsibility and the remaining 23 charges against him will be dismissed. Blankespoor has agreed to cooperate with any restitution order entered by the court. Blankespoor regrets his actions and the financial losses incurred by some investors.”
According to the indictment issued in April, Blankespoor was a health coach and consultant in Pella. He represented to others he was involved in developing medically-oriented gyms and licensed the program to fitness clinics across the United States. From at least May 2013 through at January 2019, Blankespoor represented to investors they had an opportunity to make money by investing in the medically-oriented gym concept. At least 150 investors provided him with approximately $15 million in investment funds. The indictment alleges Blankespoor used the investors’ money for unauthorized purposes that were not for their benefit. Blankespoor used that money, unbeknownst to them, for his personal expenses and paying other investors, for losses to victims of over $6.5 million.
Mail and wire fraud are punishable by a maximum prison term of twenty years and a maximum fine of $250,000. The Federal Bureau of Investigation investigated this matter.
Sentencing is scheduled for October 24th in Des Moines.