Tates Creek Grad & Former CEO of Goldman Sachs-Backed Firm Accused of Embezzling Millions for Lavish Lifestyle
Tates Creek High School graduate and former CEO and co-founder of Goldman Sachs-backed Slync, Christopher Kirchner, 35, has been accused by the Securities and Exchange Commission (SEC) of misleading investors and shortchanging employees. Kirchner is accused of fraudulently offering and selling over $67 million of securities to multiple investors, with over $28 million of that amount misappropriated for his personal benefit.
In a parallel action to the SEC, the US Attorney’s Office for the Northern District of Texas filed related criminal charges against Kirchner. He has been arrested by the FBI for wire fraud and appeared before a US magistrate judge. Kirchner, who was released pending trial, faces up to 20 years in prison if convicted.
The former CEO is alleged to have transferred tens of millions of dollars from Slync corporate bank accounts to his personal bank accounts and failed to make timely payroll distributions to Slync employees on several occasions, among other things. The SEC is seeking permanent injunctive relief, disgorgement with prejudgment interest, civil penalties, and an officer and director bar against Kirchner.
Kirchner used the money to fund his personal investment entity, KFIM LLC, pay entertainment expenses, purchase a $16 million personal private jet, among other personal expenses. Forbes reported that Kirchner also acquired a $495,000 luxury suite at a local sports stadium and made a bid to buy Wayne Rooney’s soccer team, Derby County.
Photo: Christopher Kirchner (Forbes)
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