DES MOINES — Mark Alan Blankespoor, Pella, has been sentenced to 80 months in prison for wire fraud and ordered to pay more than $8 million in restitution.
For more than four years, Blankespoor told 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 their benefit. Blankespoor used the money for his personal expenses and paying other investors to further the scheme.
United States Attorney Marc Krickbaum announced Blankespoor was sentenced by United States District Court Judge Rebecca Goodgame Ebinger 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 more than 100 victims.
Blankespoor pleaded 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.
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.