Cases by state
Ponzi schemes in Iowa
7 cases announced 2012–2024, involving about $20.9M in reported investor money. Most common types: investment funds & advisory, insurance-linked and lending & cash advance. Listed by where the main defendant was based.
The largest by reported amount: Mark Alan Blankespoor ($15M, 2019). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “would receive a financial return”
- “medically-oriented gym concept”
- “plus a guaranteed rate of return”
- “surprise gifts”
- “interest free loans”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| Jun 10, 2024 | W Holdings of Iowa, Excel Performance Management William Jack Berg |
Waukee, IA | Insurance-linked | $1.5M |
| Mar 23, 2022 | Carley Financial Group, Prosperity Partners, Main Street Solutions Jeffrey M. Carley |
Treynor, IA | Investment funds & advisory | $1.4M |
| Mar 26, 2019 | Mark Alan Blankespoor | Pella, IA | Investment funds & advisory | $15M |
| Feb 22, 2017 | Randall Finer | Lake Mills, IA | Investment funds & advisory | $800,000 |
| Aug 31, 2012 | Beverly Joan De Ronde | Pella, IA | Lending & cash advance | $730,000 |
| May 31, 2012 | John Francis Holtsinger | Ottumwa, IA | Investment funds & advisory | $493,000 |
| Feb 23, 2012 | Virtual Vision Inc Jeffrey J. Kinseth |
Cedar Rapids, IA | Trading, forex & commodities | $975,360 |