Jonathan Kendig, of Southeast Portland, has been sentenced to two years
in prison followed by three years of supervision and must pay back over
a million dollars that officials say was taken from investors in a classic
Kendig was a senior loan officer during the period of 2004 to 2009 when
the Ponzi scheme is alleged to have run. According to officials, Kendig
took in a friend with the scam and wrecked the retirement savings of at
least three senior investors. Kendig dealt in short-term loans for real
estate owners, and he is said to have promised
Unfortunately, Kendig allegedly pocketed the money, and the purported
loans were a lie. He did pay a small amount back to investors in order
to keep up the appearance of legitimate interest.
Kendig apparently had a known gambling addiction, which led him to lose
large amounts of cash. It is alleged that he started this Ponzi scheme
to cover his gambling losses and continue to have cash to gamble with.
FINRA lawyers with Meyer Wilson represent victims of Ponzi schemes and other investment fraud in
stockbroker mediation, arbitration, and litigation across the U.S. We have recovered millions
of dollars in losses for our clients, and we look forward to speaking with you.