WESTLAKE, Texas — Multiple media outlets have reported that Christopher Kirchner, 37, the founder of Slync, a supply-chain management software startup, was sentenced to 20 years in federal prison for defrauding investors of tens of millions of dollars, authorities announced recently.
A jury convicted Kirchner of four counts of wire fraud and seven counts of engaging in monetary transactions in property derived from specified unlawful activity. He was sentenced to 240 months in federal prison by U.S. District Judge Mark Pittman, who also ordered him to pay more than $65 million in restitution, according to the reports.
The judge also recommended to the Bureau of Prisons that Kirchner be able to participate in its Inmate Financial Responsibility Program, and will seek to have Kirchner be incarcerated at a facility near the Dallas, Fort Worth area, if possible.
Once Kirchner is released from prison, he will serve three years of supervised release.
Kirchner founded Slync in 2017 and held the position of CEO until his termination by the Board of Directors in 2022. He was initially charged in February 2023 after he was arrested at his home in Westlake on allegations that he misappropriated $20 million from the company.
Kirchner fraudulently raised more than $71 million over two years from numerous investors based on false representations and promises about Slync’s business operations, false representations about its financials, false representations about its customers and fantastical revenue projections. He then misappropriated over $25 million of the investor funds in various ways, according to evidence presented at the sentencing hearing.
Between April 2020 and March 2022, Kirchner initiated nearly 100 wire transfers moving money from his company’s Silicon Valley Bank account into the company’s account at JPMorgan Chase Bank which only he could access. He then wired some of the money from the Chase account to his personal bank accounts.
Kirchner also wired $20 million directly from Slync’s Silicon Valley Bank account into his personal checking account.
With the misappropriated funds, Kirchner bought a $16 million private jet, a suite at AT&T Stadium, exotic vehicles including a Rolls Royce and Mercedes Benz G-Class, and jewelry including a $500,000 Richard Mille watch, several Rolex watches and a Cartier necklace.
Television station WFAA contributed to this report.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
