DES MOINES — Mark Alan Blankespoor, of Pella, has been sentenced to 80 months in prison for wire fraud and ordered to pay more than $8 million in restitution.
United States Attorney Marc Krickbaum announced Blankespoor was sentenced by United States District Court Judge Rebecca Goodgame Ebinger for wire fraud on Nov. 1.
Blankespoor was ordered to three years of supervised release to follow his prison term. Additionally, he must pay $8,464,103 in restitution to over 100 victims.
Blankespoor pled guilty to wire fraud in June 2019. According to court documents, 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.
For more than four years, Blankespoor represented to investors they had an opportunity to make money by investing in the medically-oriented gym concept. At least 100 investors provided Blankespoor with approximately $15 million in investment funds.
Blankespoor admitted he used the investors’ money for unauthorized purposes that were not for the benefit of the affected investors. Blankespoor used the investor money, unbeknownst to them, for his personal expenses and paying other investors to further the scheme.
The Federal Bureau of Investigation assisted in the investigation. The case was prosecuted by the United States Attorney’s Office for the Southern District of Iowa.