Story perspectives

Ex-Sneaker Mogul Sentenced to 70 Months for $65M Fraud

1/7/2026

Summary

Story summary

Michael Malekzadeh, former owner of Zadeh Kicks, received a 70-month federal prison sentence for defrauding customers of over $65 million and financial institutions of more than $15 million.
Malekzadeh, 42, pleaded guilty to wire fraud and conspiracy, misleading customers with unfulfilled sneaker preorders to fund a lavish lifestyle.
U.S. Attorney Scott E. Bradford criticized the fraud's impact on victims, while Judge Michael McShane highlighted the scheme's alarming scale.
Malekzadeh is ordered to pay nearly $85 million in restitution, with a hearing set for March 31, 2026.

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Story summary

Michael Malekzadeh, former owner of Zadeh Kicks, received a 70-month federal prison sentence for defrauding customers of over $65 million and financial institutions of more than $15 million.
Malekzadeh, 42, pleaded guilty to wire fraud and conspiracy, misleading customers with unfulfilled sneaker preorders to fund a lavish lifestyle.
U.S. Attorney Scott E. Bradford criticized the fraud's impact on victims, while Judge Michael McShane highlighted the scheme's alarming scale.
Malekzadeh is ordered to pay nearly $85 million in restitution, with a hearing set for March 31, 2026.