Mount Holly Promoter Goes Directly to Jail
SAM Magazine-Salt Lake City, Utah, Aug. 24, 2011-Marc Jenson, one of the principal players in the scheme to transform Elk Meadows ski area into the upscale Mount Holly Club, was found in violation of an unrelated fraud case and jailed yesterday after he failed to make any payments toward a $4.1 million court-ordered restitution.
Later in the day, he was charged with eight counts in a second case that alleges communications fraud, money laundering, and unlawful activity in his sales efforts for Mount Holly. His brother Stephen Jenson was charged with 11 counts of communications fraud, money laundering and a pattern of unlawful activity.
The latest charges claim that in 2007 and 2008, the Jenson brothers used false information about Mount Holly to secure investments in Mount Holly, and that the brothers then spent the money on expensive homes, cars, and vacations for themselves, and to pay down other, unrelated debts-including legal fees Marc accumulated while defending himself against fraud charges filed in 2005. That case led to the restitution judgment that precipitated Jenson's jailing.
Since Jenson made no attempt at restitution despite having three years in which to convert assets into cash, the prosecutor said he would seek "a lengthy term of incarceration," according to the Deseret News. Jenson could receive up to five years for each of three counts on restitution.