Former CEO Of Technology Firm Gets 49-Month Prison Sentence For $7M Fraud Scheme

Acting U.S. Attorney Joon H. Kim announced Friday the former CEO and founder of a technology firm was sentenced to 49 months in prison for defrauding investors of more than $7 million.

Forty-six-year-old Maryse Liburdi of Victoria, Minnesota misrepresented her company’s assets and revenue to entice people to invest in her company. To support her claims, Liburdi altered the company’s bank accounts, telling investors the company had million of dollars in revenue, when in fact it had earned little to no revenue, according to court documents.

PrisonLiburdi utilized more than $1 million of that money to pay her personal expenses, including rental payments for a Manhattan apartment, credit cards, luxury clothing, cosmetics, spa treatments and expensive wines.

To inflate the company’s finances, Liburdi withdrew hundreds of thousands of dollars on bank accounts with insufficient funds. In 2013, she wrote a check for $700,000 from a bank account with approximately $2,000 and deposited it into the company’s account.

In addition to the 49-month prison sentence, Liburdi was ordered to pay $7,079,904.46 in restitution.

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