The founder and former chief financial officer of a defunct limited-edition sneaker company, Zadeh Kicks, pleaded guilty to fraud charges linked to millions of dollars in unfulfilled orders.
Founded in 2013 by Michael Malekzadeh, Eugene-based Zadeh Kicks bought and sold collectible sneakers. Around 2020, the company started taking preorders for limited-edition sneakers, according to federal prosecutors, but Malekzadeh set prices below market rates knowing he’d get more orders than he could fill.
The company collapsed in 2022 after federal prosecutors said he had accepted more than $65 million for sneakers he never delivered…