Chris Kirchner | |
---|---|
Born | |
Alma mater | University of Kentucky |
Occupation | Entrepreneur |
Known for | Co-founder, Slync.io |
Chris Kirchner is an American entrepreneur. The co-founder and former CEO of logistics company Slync.io, he was convicted on fraud and money laundering charges in January 2024.
Kirchner was born in San Francisco, California[1] and studied international marketing at Butler University before moving on to study communications at the University of Kentucky,[2] leaving in 2009 before graduating.[3]
After leaving the University of Kentucky, he started Kirchner Entertainment, an advertising and entertainment company. He later took positions with tech supplier Best Buy until 2015 and then Lexington-based Turner Labels,[2] where he met Raj Patel while working with a Salesforce contact.[3]
In 2017, Kirchner and Patel co-founded the logistics firm Slync.io, where Kirchner served as the company's CEO.[2] Investors in the business included Goldman Sachs and Blumberg Capital, with funding rounds totaling $80m, valuing the company at $240m.[3]
In late 2021, Kirchner was also among several potential bidders for the then financially-troubled English association football club Derby County,[4][5] publicly declaring his interest in November[6] before withdrawing his bid on December 24, 2021.[7] After a failed attempt to buy Championship rivals Preston North End,[8][9] he renewed his interest in Derby County and was confirmed as preferred bidder on April 6, 2022.[10] He withdrew his bid for the club in June 2022.[11]
In July 2022, a Forbes investigation reported Kirchner had fired Slync.io executives after they raised questions about company funds; he was also facing a lawsuit for wrongful termination and claims of "fraudulent behavior". He was said to have told Slync.io's board that the business had generated close to $30 million in revenue in 2021, from about 20 customers, while the real figures were closer to $1 million from fewer than five customers.[3] Kirchner was first suspended[12] and then fired by Slync.io in August 2022[3][13] after making financial misrepresentations to the company board.[14]
In October 2023, Slync.io went into liquidation, saying it could not continue to operate "due to its financial underperformance and Kirchner’s [alleged] fraud".[15][16]
In February 2023, Kirchner's home in Westlake, Texas was raided by the FBI[17] and he was charged with wire fraud for transferring $20 million in company funds to his personal bank account while employed at Slync.[18] The U.S. Attorney for the Northern District of Texas alleged Kirchner had used the money to fund a "lavish lifestyle", including a $16m private Gulfstream jet, a $495,000 luxury suite at a Dallas sports stadium, prestige cars including a Rolls-Royce,[19] and membership of an exclusive Dallas-area golf club called the Vaquero.[12]
In January 2024 a federal jury in Texas convicted Kirchner of four counts of wire fraud and a further seven counts of money laundering, defrauding investors of at least $25 million.[20]