Ousted Startup CEO Jon Mills Facing 20 Years in Prison for Fraud

After months of building a reputation for decadent parties, wasted money, and scammed friends, Jon Mills was arrested by the FBI, and could go to prison for 20 years if convicted of wire fraud charges. Read the full report below.

Mill's Mark Cuban-backed company, Motionloft, was (and still is) a good business with a good product: sensors that detect physical foot and vehicle traffic for other businesses. But Mills developed a taste for splurging—as was the case when he hired Miguel, above, for a private show—and allegedly started to splurge with his friends' money, as first reported by TechCrunch. That's money that was invested in Motionloft to build the business, not build an ego. The SF Examiner says Mills is still in custody.

The criminal complaint below singles out one prominent investor, a San Francisco doctor who gave Mills over $200,000 after being told Motionloft was about to be acquired by Cisco for hundreds of millions of dollars. Not only was this a lie, but the doc never even got his shares of Motionloft.

Ousted Startup CEO Jon Mills Facing 20 Years in Prison for Fraud

This is what you call wire fraud, and it'll be enough to put a cap on an already ruined reputation for Jon Mills, erstwhile mega-techie-party-boy. It might be a long time before he's back to flying strippers into Coachella

Motionloft