Victims to get $4.1 million in new deal

A second plea deal — after a judge rejected the first as too lenient — will cost an accused swindler $4.1 million more than first proposed.

It comes in a case where both sides had accused Attorney General Mark Shurtleff of unfairly meddling amid political pressure, and Shurtleff in turn said a bribe was offered.

Marc Sessions Jenson, 48, of Holladay, pleaded no contest Thursday to three felony counts of selling unregistered securities in a plea bargain accepted by 3rd District Judge Robin Reese.

As in the first rejected deal, Jenson — an ex-felon accused of bilking millions of dollars each from three victims — will face no prison time and must pay a $15,000 fine to the state. And if he commits no crimes in the next three years and meets other deal terms, the conviction will be erased.

But this time, the deal also calls for Jenson to pay two victims a combined $4.1 million in restitution (a third victim said he has already received restitution). Reese had rejected the first settlement because it did not clearly order restitution. The judge had also questioned whether the first deal served justice.

"The concerns of the victims were the driving force behind this (new) settlement," said Kirk Torgensen, chief deputy of Utah Attorney General's Office.

He said the deal makes it more likely for victims to obtain all their money than had the case gone to trial and restitution were ordered upon conviction. He said victims in that situation often receive only cents on the dollar because a convict cannot make much money while in jail, and probation often ends before full restitution is made.

Reese, as he accepted the deal, warned Jenson that he could face up to 15 years in prison and $750,000 in fines on the charges if he does not make full restitution and meet other terms of the deal within the ordered three years.

The deal specifically allows Jenson to continue as a principal in a group trying to convert the old Elk Meadows ski resort near Beaver into the private Mt. Holly Club. But it bans him from engaging in "hard-money lending" involved in this case, where high-interest, short-term loans are offered to entrepreneurs as they seek longer term loans.

Representatives of two victims told the judge in court they were pleased with the new restitution terms. A third victim, Ricke White, did not object to the deal, but questioned if Jenson was being punished enough.