The reality TV star is accused of defrauding hundreds of victims, many of whom were elderly, through a telemarketing scheme by selling them services for online businesses that were nonexistent.
The services included coaching sessions, and website design, even though many victims didn’t even own a computer, according to the indictment.
Prosecutors said Jen Shah, and her former assistant, Stuart Smith, generated and sold “lead lists” of victims to other scammers.
Shah and Smith attempted to conceal their roles in the scheme by incorporating business entities under third-party names and telling other participants to do the same thing.
In July, Jen pleaded guilty to conspiracy to commit wire fraud, which carries a maximum sentence of 30 years in prison.
As part of her plea deal, Jen Shah agreed to forfeit $6.5 million and pay up to $9.5 million in restitution.
Prior to her sentencing, the reality TV star and certified scammer wrote the following statement:
I accept complete responsibility for my bad conduct.
My poor judgment and bad business associations caused innocent people to lose their money and be victimized by investing in poorly structured businesses/products that I influenced or controlled.
For that, I am genuinely sorry, and I will work for the rest of my life to make it right.
My heart goes out to everyone who has been victimized by Jen Shah and her crew of scammers.
The only thing I have to say to Jen Shah is…
Source: CBS News