Investment Advisor And Attorney Sentenced To 10 Years In Prison After Pleading Guilty To Stealing More Than

United States Attorney Andrew M. Luger today announced the sentence of MARK HOLT, 45, to
ten years in federal prison for stealing more than $4 million from his investment advisory clients.
The defendant, a securities broker, investment advisor, and now disbarred attorney, operated a
fraud scheme for at least eight years, during which time he used the criminal proceeds to fund his
own lavish lifestyle. HOLT pleaded guilty on April 1, 2014, in United States District Court in St.
Paul, MN, to wire fraud.

“Far too often, investment advisors are caught defrauding their clients,” said U.S. Attorney Luger.
“This defendant was an attorney during the time that he was stealing from his clients. He not only
engaged in criminal activity by stealing from his clients, he eroded public trust in our
profession. My Office will continue to prosecute aggressively those who abuse professional
positions of trust.”

According to his guilty plea, HOLT owned and operated the Harbor Investment Planning Group, LLC,
later known as the Harbor Group, LLC (Harbor Group) from 2002 through January 2014. In 2005, HOLT
opened bank accounts in the name of the Harbor Group, over which he had exclusive control. Between
September 2005 and November 2013, HOLT persuaded investors to place more than $4 million into his
trust by telling them that he was investing their money in legitimate long-term investments, such
as bonds and mutual funds with JP Morgan Chase, Morgan Stanley, Berkshire Hathaway, and
others. By convincing clients to make long-term investments, HOLT expected them not to draw on
those funds for many years. Instead, HOLT diverted the funds into Harbor Group checking accounts.

HOLT continued to defraud his clients using an array of schemes to make their investments seem
legitimate, including making monthly annuity or interest payments to clients; providing
fraudulent Morningstar “Portfolio Fact Sheet, Client Summary” printouts falsely reflecting that
the clients’ funds had been placed in legitimate investment products; and creating
online accounts for clients with Blueleaf, a web-based portal for viewing account information, including
account balances and performance information, and causing weekly e-mail updates to be sent to
clients via the Blueleaf system showing fraudulent account balances.

According to the documents filed in court, HOLT converted the investors’ money to his own use. He
spent most of the money to fund his lavish lifestyle, including purchasing a membership at the
White Bear Yacht Club, luxury cars from Maplewood Imports and Sears Imports, and stays at the Ritz
Carlton. He also used some of the stolen funds to make Ponzi payments to the victims.

This case was prosecuted by Assistant U.S. Attorney Kimberly Svendsen.

U.S. Attorney Luger thanked the Federal Bureau of Investigation for its assistance in the
investigation.

Defendant Information:

MARK HOLT, D.O.B. 9/15/1969
Vadnais Heights, MN

Convicted:
• Wire Fraud, 1 count

Sentenced:
• 10 years in Federal Prison
• 3 years supervised release
• Restitution of $2,940,982.75