Business ProfileforVSP North America

Gov. Action
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

John Von Stach and his company, VSP North America LLC pleaded guilty in Kent County Circuit Court to 21 felony counts in what the Michigan Attorney General describes as a racketeering scheme that defrauded investors out of more than $2.2 million. According to the Michigan Attorney General, VSP North America and Von Stach's other company, V-Power Energy, sold investments to investors across the United States and Canada between 2014 and 2018. The investors were promised a 20 percent return on their investment in 90 days. At least 20 victims have come forward claiming they lost money. As part of the plea agreement, Von Stach will not be sentenced until January 2020. If he repays $1 Million toward restitution by his sentence date 18 of the 21 counts will be dismissed and he will be sentenced to 19 months in prison. If Von Stach pays $1.5 million toward restitution by his sentence date 18 of the 21 counts will be dismissed and he will be sentenced to 15 months in prison. According to the plea agreement, of Von Stach does not pay at least $1 million by his sentence date he will be sentenced on all 21 counts, which could carry a sentence of as much as 20 years in prison. According to the Michigan Attorney General, Von Stach's other company, V-Power Energy, Inc., was not charged, but was actively involved in the racketeering scheme.