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Mpls. Man Gets 12 Years Over $20M Scam

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(credit: Jupiter Images)

(credit: Jupiter Images)

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MINNEAPOLIS (WCCO) – A 63-year-old man was sentenced to more than 12 years in prison for running four investment scams that cost investors between $20 million to $50 million.

Michael Joseph Krzyzaniak, of Minneapolis, was sentenced in federal court on Friday to 151 months in prison.

Krzyzaniak pleaded guilty to running schemes between 2003 and 2011, luring investors into funding a number of ventures he never finished, according to the U.S. Attorney.

This isn’t Krzyzaniak’s first time running afoul of the law. The justice department says he pleaded guilty to mail fraud back in 1993, but fled before the case could be resolved. He was arrested in Florida and received a 72-month sentence.

“Krzyzaniak represents the worst in criminals in that he does not learn from or feel remorse for his wrong doing,” said U.S. Attorney B. Todd Jones. “He just continues to victimize those around him.”

When passing down the sentence, District Court Chief Justice called Krzyzaniak “a sociopath or something close to it.”

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