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Sneaker company founder faces prison for $80M fraud scheme
Sneaker company founder faces prison for $80M fraud scheme
Sneaker company founder faces prison for $80M fraud scheme

Published on: 01/06/2026

This news was posted by Oregon Today News

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Michael Malekzadeh, founder of the online sneaker company Zadeh Kicks, spent millions of dollars on luxury cars, jewelry and handbags as he defrauded thousands of customers, prosecutors said. These were among the personal items seized by federal investigators.

When Michael Malekzadeh’s online sneaker company Zadeh Kicks racked up 60,000 preorders of the limited Jordan 11 Retro Jubilee sneakers, the company’s founder knew he could never deliver that quantity.

News Source : https://www.oregonlive.com/crime/2026/01/sneaker-company-founder-faces-prison-for-80m-fraud-scheme.html

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