Kentucky Men Mark Carroll and Luke Curry Plead Guilty in Nearly $12 Million Sham Loan Scheme

Case from 2023–2026 (U.S. Attorney's Office latest release: April 21, 2026). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Mark Carroll, 50, of Lexington, Kentucky, and Luke Curry, 39, of Bowling Green, Kentucky, pleaded guilty on April 16, 2026, in federal court in Rockford, Illinois, to wire fraud for a scheme that caused borrowers, lenders and investors to hand over nearly $12 million through sham loan programs and investments, the U.S. Attorney's Office for the Northern District of Illinois announced [1].

Important: Both men have pleaded guilty. Sentencing was set for Aug. 4, 2026; we found no public report of the sentences as of Oct. 16, 2026.

How the scheme worked

According to the plea agreements as summarized by prosecutors [1]:

1. The companies: Carroll and Curry created companies including Catapult Marketing LLC and Catapult Funding LLC.
2. "80/20" credit lines: They claimed to extend lines of credit to borrowers in exchange for an upfront deposit of about 20%. The 2023 indictment said the credit lines were never actually funded [2].
3. Private loan agreements: They also signed "private loan agreements" with lenders and investors, falsely promising to repay principal and interest at maturity.
4. Misused money: They used victims' money for purposes other than what they had promised.

The government says the scheme harmed 60 people, with an actual loss of at least $11.8 million [1]. Victims included a business in Boone County, Illinois, according to the 2023 indictment announcement [2].

The people who pleaded guilty

Mark Carroll, 50, Lexington, Ky. and Luke Curry, 39, Bowling Green, Ky. [1]

• Indictment: six counts of wire fraud, announced May 16, 2023, after both were arrested in Kentucky [2].
• Pleas: guilty to wire fraud on April 16, 2026, in Rockford.
• Statutory exposure (informational): up to 20 years in prison and a fine of up to $250,000 each.
• Sentencing: set for Aug. 4, 2026, before U.S. District Judge Iain D. Johnston.
• Prosecution: Assistant U.S. Attorneys Lisa R. Munch and Robert Ladd; investigated by the FBI Chicago Field Office, with help from the U.S. Postal Inspection Service.

Red flags

• A lender that wants a large upfront deposit (such as 20%) before releasing a loan or credit line. This is the classic advance-fee loan pattern.
• Guaranteed interest rates on "private loan agreements" with a little-known company.
• Repeated delays in funding after you've paid.

What to do if you're targeted

1. Never pay a large upfront fee to get a loan. Verify the lender with your state banking regulator.
2. Get a lawyer to review any private loan or note agreement.
3. Report advance-fee loan fraud to the FTC at reportfraud.ftc.gov and the FBI at ic3.gov.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Mark Carroll, 50, Lexington, Ky.	N.D. Ill., Western Division (Judge Johnston)	Pleaded guilty to wire fraud April 16, 2026; sentencing set for Aug. 4, 2026; no sentencing outcome found in public sources as of Oct. 16, 2026	[1]
Luke Curry, 39, Bowling Green, Ky.	N.D. Ill., Western Division (Judge Johnston)	Pleaded guilty to wire fraud April 16, 2026; sentencing set for Aug. 4, 2026; no sentencing outcome found in public sources as of Oct. 16, 2026	[1]

A guilty plea admits the charged conduct.

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "Two Plead Guilty to Operating Nearly $12 Million Fraudulent Loan Program Harming Dozens of Victims," April 21, 2026. https://www.justice.gov/usao-ndil/pr/two-plead-guilty-operating-nearly-12-million-fraudulent-loan-program-harming-dozens
2. U.S. Attorney's Office, Northern District of Illinois, "Two Kentucky Men Charged With Scheming To Obtain Millions of Dollars From Victims in Illinois and Throughout the U.S.," May 16, 2023. https://www.justice.gov/usao-ndil/pr/two-kentucky-men-charged-scheming-obtain-millions-dollars-victims-illinois-and

---

Corrections and updates: If you are named in this article, or represent someone who is, and believe anything here is inaccurate or out of date (including a dismissal, acquittal, or change in case status), please contact us at editorandchief@scammers.com. We will review it and update the article promptly.