Former municipal prosecutor sentenced for trust fund fraud

ANCHORAGE — A former Anchorage municipal prosecutor has been sentenced to more than 13 years in prison for a $52 million wire fraud and money laundering scheme.

U.S. District Judge Ralph Beistline also ordered 57-year-old Mark Avery to pay a $100,000 fine and restitution of nearly $46 million to the May Smith Trust.

Avery was a trustee and lawyer for the trust. Prosecutors say he used his influence to access $52 million of trust assets that he spent in six months.

Prosecutors say he pledged trust assets as collateral to secure a $52 million loan that he spent on businesses. Some were created after he obtained trust funds.

Among his purchases were two World War II era fighter aircraft, a 47-foot yacht and a 37-foot heavy-duty patrol boat.

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