CEO Pled Guilty to Wire Fraud for Spending Startup Funding on Parties

Nitasha Tiku · 10/16/14 12:00PM

Former Motionloft CEO Jonathan Mills has pled guilty to two counts of wire fraud. The San Francisco entrepreneur, who raised funding from Mark Cuban, was arrested by the FBI in February. He admitted to spending "substantial amounts" of his victims' money on "vacations and other entertainment," like that time he hired Grammy-award winner Miguel (above) for a private show and numerous trips to Vegas.

Sam Biddle · 02/20/14 06:16PM

Jon Mills, who made an armful of enemies through squandered investments in his company Motionloft, is in FBI custody, TechCrunch reports.