Missouri Attorney General Andrew Bailey announced that Loy Maxey, the owner of Fresh Start Credit Services, was convicted on three felony counts of deceptive business practices and two felony counts of securities fraud. The convictions resulted in over $60,000 in restitution for victims.
Attorney General Bailey emphasized the importance of protecting consumers, stating, “My Consumer Protection team thoroughly investigates complaints of fraud and takes swift action to obtain justice for Missourians who have been ripped off. Our aim is not only to hold bad actors accountable but to deliver full restitution to all affected.”
Maxey targeted individuals with low credit scores through his company, gaining their trust by promising to repair their financial situations in exchange for control of their assets. One notable case involved a St. Louis County woman from whom Maxey took $36,000. He claimed the funds would be placed in a high-interest account to manage her debt payments. Instead, he misused the money for personal expenses…