Missouri Attorney General Andrew Bailey announced the successful conviction of Loy Maxey, owner of "Fresh Start Credit Services," on charges related to deceptive business practices and securities fraud. The legal action resulted in over $60,000 being awarded as restitution to victims.
Bailey emphasized his commitment to consumer protection, stating, "As Attorney General, I will always fight to protect Missouri consumers." He added that his team is dedicated to investigating fraud complaints and ensuring justice for affected individuals. "Our aim is not only to hold bad actors accountable but to deliver full restitution to all affected."
Maxey's scheme involved targeting individuals with low credit scores by promising financial repair services in exchange for control over their assets. In one case, he took $36,000 from a woman under false pretenses and used the funds for personal expenses instead of managing her debt as promised.
Following an indictment by the St. Louis County Grand Jury in 2022, Maxey pleaded guilty in November 2024 to all five counts against him. The court ordered him to pay $62,595 in restitution and sentenced him to concurrent prison terms totaling seven years. However, these sentences were suspended in favor of a five-year probation period.
Attorney General Bailey urges anyone who has been scammed to report it by contacting the Missouri Attorney General’s Office through their Consumer Protection hotline or website.