The owner of a former Oregon business that sold collectible sneakers online was sentenced on Tuesday to 70 months in federal prison for a fraud conspiracy involving more than $80 million.
According to the Oregon U.S. Attorney’s Office, customers were defrauded of more than $65 million in unfulfilled orders, and a conspiracy that cost financial institutions more than $15 million.
Michael Malekzadeh (42), of Eugene, was the owner of Zadeh Kicks LLC. He must forfeit more than $15 million in assets, with restitution to be determined on March 31, 2026. He was also sentenced to five years of supervised release.
His Fraud Was Fueled by Greed
Malekzadeh ‘fed’ his lavish lifestyle by defrauding banks and cheating his customers, collectors, and investors out of millions, according to District of Oregon U.S. Attorney Scott E. Bradford. Bradford says in a press statement that Malekzadeh’s multi-million-dollar fraud was fueled by insatiable greed that wreaked havoc on the lives of his victims and their families…