PORTLAND, Ore. (KOIN) — The former owner of an Eugene company that sold limited edition and collectible sneakers online was sentenced to federal prison on Tuesday for his role in an $80 million wire fraud scheme.
Michael Malekzadeh, 42, the owner of the now-defunct Zadeh Kicks, LLC, received a 70-month sentence, which will be followed by 5 years of supervised release. He was also ordered to forfeit more than $15 million in assets.
“This million-dollar fraud was fueled by the defendant’s insatiable greed and wreaked havoc on the lives of his victims and their families—delaying home purchases, retirements, and engagements,” said Scott E. Bradford, U.S. Attorney for the District of Oregon. “Michael Malekzadeh fed his lavish lifestyle by cheating his customers, collectors, and investors out of millions and defrauding banks. The sentence imposed today reflects the seriousness of these crimes and should serve as a warning to anyone contemplating fraud as a get-rich-quick scheme.”…