Glen Zinszer, founder of the self-proclaimed “Facebook for Business” Brazzlebox, was sentenced to 51 months in prison for committing wire fraud and filing false tax returns.
For years, Zinszer lied to investors about how well Brazzlebox was doing by inflating the company’s user numbers, having employees create fake user accounts, creating false revenue generating partnerships, and forging a letter of intent to purchase Brazzlebox for millions of dollars.
From 2012 to 2016, Zinszer used the bulk of the money invested to pay for personal items, including mortgages on his homes, concert tickets and jewelry. From 2013 to 2016 he also underreported his income on his federal tax forms.
In addition to the prison sentence, Zinszer was ordered to pay $3,049,933 to his victims, including the government, and forfeited $2,763,811.
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