DALLAS, Texas – Christopher Kirchner, the former CEO of Southlake-based tech firm Slync.io, was convicted by a federal jury in Texas for defrauding investors of $25 million. The 36-year-old Kirchner was taken into custody by U.S. Marshals immediately after the verdict. The jury found him guilty of four counts of wire fraud and seven counts of money laundering after a four-day trial. Kirchner’s sentencing is set for July 11 before U.S. District Court Judge Mark T. Pittman. Kirchner and his public defender, Jason D. Hawkins, did not respond to interview requests.
Slync was well on its way to becoming a prominent supply chain technology firm before Kirchner was ousted by the board of directors in August 2022. The company had a valuation of $240 million and had received funding from Goldman Sachs. Slync had also secured sponsorship deals with the Dallas Stars and was the title sponsor of the European Tour golf tournament’s Dubai Desert Classic.
However, Kirchner’s actions caused the company’s downfall. Government prosecutors alleged that Kirchner converted the company’s funds for personal use. Despite raising $57 million in investments, Kirchner transferred the money to an account only he could access. He used the funds to purchase a $16.1 million private jet and secure a luxury suite at a Dallas sports team stadium. Kirchner also attempted to buy an English soccer team but was unable to fulfill the payment.
While Kirchner enjoyed a lavish lifestyle, Slync faced financial difficulties and struggled to make payroll. Kirchner tried to cover his tracks by convincing investors to pump $850,000 into the company in a third investment round without the board’s approval. Kirchner was suspended in July 2022 after an employee reported his actions to the board. Kirchner blamed an administrative error for the fake investment round.
Kirchner’s departure from the company was not without controversy. Prosecutors claimed that he revoked IT administrator privileges for crucial employees, hindering access to important computer systems. He also attempted to delete company data, including emails.
Amid the federal fraud investigation, Slync filed for bankruptcy in October 2023 to liquidate its assets. Kirchner sued the company, alleging that Slync owed him for legal bills in his fraud case after his assets were frozen. Kirchner publicly expressed his frustrations against Slync on LinkedIn.
Kirchner now faces up to 30 years in federal prison for the wire fraud and money laundering charges.