December 22, 2017
By Bob Coleman
Editor, Fraud Friday
Fraud Friday — Mark Feathers Guilty of Fraud
The former owner of one of the 14 non-bank SBA lending licenses pled guilty to one count of mail fraud on Wednesday.
The remaining 28 counts of fraud are dismissed by the Feds.
Sentencing is scheduled for March 2nd. The term of his incarceration is unknown. But moving from county jail, where he will have sat for almost a year, to a federal white-collar pen will be a much appreciated change in scenery for the newly convicted felon.
Mark has been in Alameda county jail since his bail was revoked threatening witnesses with his infamous March 7, 2017 5:32 am email.
The email subject line?
“you will need to ask the court for extra marshals to my jury trial”
Then the threat.
Mark says, “I am putting you on notice now that if the word Ponzi is used at trial, or the word swindler, or similar, I will rise out of my seat and attempt to bring injury to any party that uses the word. To and through this date you have been able to introduce prejudice with the use of the word Ponzi in public and in hidden court pleadings. You won’t get away with it again (with me at least!) Feathers.”
The SEC seized the Northern California-based Small Business Capital in 2012 alleging a Ponzi scheme to guarantee investors a 7.5% a year annual return. Mark was arrested in 2014 on 29 counts of fraud.
Check out our previous reporting here.
November 14, 2014
Small Business Capital’s Mark Feathers Indicted on 29 Counts of Fraud
January 29, 2013
SB Capital Update – Mark Feathers Fights SEC for Control
July 16, 2012
SEC Closes SBA Lender In Ponzi Scheme Charges