Another Debt Settlement Defendant Pleads Guilty, Faces 30 Years in Prison

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behind barsMark Farnham, a co-conspirator in a high profile merchant cash advance debt settlement fraud case, pleaded guilty on Friday to conspiracy to commit bank fraud. He faces a sentence of 30 years in prison and a $1 million fine.

According to the Department of Justice, Farnham, along with others, used a number of fraudulent companies to mail solicitations to small business owners (victims) which fraudulently informed the victims that one or more of the fraudulent companies could assist the Victims with restructuring debts they had with other lenders.

Farnham is merely the latest to plead guilty in the scheme.

Vanessa Cardona – pleaded guilty to conspiracy to commit mail fraud. Facing 30 years in prison and a $1 million fine.
Dustin Walker – pleaded guilty to conspiracy to commit bank fraud. Facing 30 years in prison and a $1 million fine.

The ringleader of the debt settlement scheme, Sergiy Bezrukov, is scheduled to begin trial next month on December 17 in Buffalo, New York. Bezrukov has been in jail for over a year.

Bezrukov and his associates operated under many business names including Corporate Restructure Inc.

Last modified: April 19, 2019
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