Christopher Kirchner, founder of supply chain management software company Slync, was sentenced today to 20 years in federal prison for defrauding investors of tens of millions of dollars, U.S. Attorney for the Northern District of Texas Leigha Simonton announced.
Kirchner, 37, founded Slync in 2017 and served as CEO until his termination by the Board of Directors in 2022. He was charged in February 2023 and, following a jury conviction in January 2024, was found guilty of four counts of wire fraud and seven counts of engaging in monetary transactions involving proceeds from unlawful activity. U.S. District Judge Mark Pittman imposed the 240-month sentence and ordered Kirchner to pay over $65 million in restitution.
During the sentencing hearing, evidence revealed that between 2020 and 2022, Kirchner raised more than $71 million from investors through false representations about Slync’s operations, financial status, customer base, and inflated revenue projections. He misappropriated over $25 million of these funds.
Kirchner executed nearly 100 wire transfers from Slync’s Silicon Valley Bank account to his JPMorgan Chase Bank account, which he exclusively controlled, and transferred approximately $20 million directly into his personal checking account. The misappropriated funds were used for a lavish lifestyle, including a $16 million private jet, luxury vehicles, and high-end jewelry.
When Slync faced payroll issues in spring 2022, Kirchner sought to recover some misappropriated funds by persuading investors to wire about $850,000 for a non-existent Series C investment round, which had not been authorized by the Board of Directors.
Following his suspension in July 2022, Kirchner restricted access to Slync's computer systems for key employees and attempted to delete approximately 18 gigabytes of company data, including emails.
The investigation was conducted by the FBI’s Dallas Field Office.
