Kentucky Men Plead Guilty in $11.8 Million Fraudulent Loan Scheme

ROCKFORD – Two Kentucky men have pleaded guilty in federal court to operating a fraudulent loan and investment scheme that authorities say caused nearly $11.8 million in losses to about 60 victims. Federal prosecutors said Mark Carroll, 50, of Lexington, and Luke Curry, 39, of Bowling Green, admitted they used companies they created to solicit money through false promises of credit lines and private loan agreements. Officials said victims were told they could receive so called 80/20 lines of credit and guaranteed repayment with interest, but the money was instead misused for other purposes. Both men pleaded guilty to wire fraud charges and face up to 20 years in prison and fines of up to $250,000 each. Sentencing is scheduled for August 4, 2026, in federal court in Rockford.