Were you or someone you know a victim of the Zadeh Kicks Ponzi scheme? You may be entitled to monetary compensation. As the sneaker retailer’s founder, Michael Malekzadeh, continues to pay his legal dues for cheating customers out of millions of dollars, authorities are putting his inventory up for sale.
Michael Malekzadeh was officially accused of a Ponzi scheme that swiped customers of more than $70 million dollars worth of sneakers. Federal prosecutors charged Malekzadeh with stealing the money, as well as falsifying $15 million worth of bank loan applications with his girlfriend as an accomplice. He was also charged with wire fraud, conspiracy to commit bank fraud, and money laundering.
