David Alcorn, Kent Maerki, Janus Spectrum LLC— Offering Fraud Charges
David Alcorn, Kent Maerki and Their Janus Spectrum LLC Allegedly Defrauded Investors Selling FCC Applications for Cell Licenses
David Alcorn, Kent Maerki and their firm, Janus Spectrum LLC, a Glendale, Ariz.-based company, allegedly defrauded investors with a scheme selling FCC applications for Cell Licenses, according to SEC documents. Janus Spectrum put itself out as a service provider that prepares cellular spectrum license applications on behalf of third parties.
The SEC Complaint further alleges that although Alcorn and Maerki used third parties to offer and sell securities based on the licenses to investors, they were allegedly personally involved in presentations to investors, and Maerki appeared in videos which purportedly mislead clients, including one entitled: “Money from Thin Air.”
The SEC goes on to allege that investors were also allegedly promised potentially high returns based on Janus Spectrum obtaining FCC licenses in the Expansion Band and Guard Band portions of the 800 megahertz (MHz) band. What is more, the SEC reports, Janus Spectrum and the fundraising entities reportedly claimed that investors could profit because Sprint and other major wireless carriers needed licenses in this spectrum.
Janus Spectrum FCC Licensing Scheme Allegedly Raised More than $12.4 Million from May 2012 to October 2014
The SEC’s complaint also alleges that the scheme raised more than $12.4 million from investors from May 2012 to October 2014. The fundraising entities siphoned a significant percentage of the investors’ funds to Janus Spectrum, which used only a tiny percentage to actually prepare applications for FCC licenses.
The SEC Complaint alleges that rather all of the individuals in the scheme kept a large portion of investor funds for personal use.
Four individuals and 11 companies were named as fundraising entities:
- Daryl G. Bank of Port St. Lucie, Fla., and his companies Dominion Private Client Group LLC, Janus Spectrum Group LLC, Spectrum Management LLC, Spectrum 100 LLC, Spectrum 100 Management LLC, Prime Spectrum LLC and Prime Spectrum Management LLC all based in Virginia Beach, Va.
- Bobby D. Jones of Phoenix and his company Premier Spectrum Group PMA, a Texas private membership association based in Phoenix.
- Terry W. Johnson of Heath, Texas and Raymon G. Chadwick Jr. of Grand Prairie, Texas and their companies Innovative Group PMA, Premier Group PMA and Prosperity Group PMA, Texas private membership associations based in Grand Prairie, Texas or Heath, Texas.
The Peiffer Wolf Carr & Kane Investment Recovery Attorneys Often Represent Investor
The Peiffer Wolf Carr & Kane investment recovery attorneys often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investment recovery attorneys at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.