Attorney General secures $62,000 for victims and felony convictions.

scheme targeting individuals with poor credit scores has led to convictions for Loy Maxey, who was the owner of “Fresh Start Credit Services” in St. Louis. These convictions were based on three counts of deceptive business practices and two counts of securities fraud. The sentence included a payment of over $60,000 in restitution to the victims of Maxey’s fraudulent scheme.

Attorney General Andrew Bailey spoke out about the importance of protecting consumers in Missouri, emphasizing the commitment of his Consumer Protection team to investigating fraud claims thoroughly and taking quick action to ensure justice for those affected. The primary goal is not only to hold wrongdoers accountable but also to secure complete restitution for victims who have been deceived.

Maxey’s fraudulent activities involved targeting people with low credit scores, establishing trust, and promising to help improve their financial situation if they provided him with control over their finances. In one instance, Maxey convinced a woman in St. Louis County to give him $36,000, assuring her that the money would be kept in a high-interest account to pay off her loan. Instead, he misused the funds for personal expenses, betraying the victim’s trust.

Following an indictment by the St. Louis County Grand Jury in 2022, Maxey pleaded guilty to all charges in the indictment in November 2024. As part of the legal proceedings, Maxey was ordered to repay $62,595 in restitution to the victims. The Court sentenced him to four years in the Missouri Department of Corrections for each count of deceptive business practices and seven years for each count of securities fraud. These sentences were to run concurrently, with the execution of the imprisonment being suspended, and Maxey was placed on probation for five years.

Attorney General Bailey urged individuals who have fallen victim to scams to report their experiences to the Missouri Attorney General’s Office. Complaints can be lodged by contacting the Consumer Protection hotline at 800-392-8222 or submitting a complaint through the official website at ago.mo.gov.

In conclusion, the case against Loy Maxey and “Fresh Start Credit Services” emphasizes the importance of consumer protection and holding fraudulent actors accountable. The successful prosecution of Maxey and the restitution awarded to his victims highlight the dedication of law enforcement agencies in safeguarding the financial well-being of individuals in Missouri.