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★ Forbes 30U30 2013✅ Convicted
MICHAEL LIBERTY
Mozido · 2017
Securities fraud / investor fund diversion
Michael Liberty founded Mozido, a mobile payments startup, and raised approximately $300M from investors including a Saudi prince. Prosecutors charged Liberty with securities fraud and wire fraud in 2017, alleging he diverted at least $45M in investor funds to personal use — artwork, real estate, and a film studio. He pled guilty to money laundering in 2019 and was sentenced to approximately 5 years 7 months in federal prison.
Raised
$300M
Outcome
🔒 Prison
Prison
6 yrs
Investors
Prince Alwaleedprivate investors