Michael Glaspie sentenced to 6 years for Mike G Deal fraud
Michael Glaspie has been sentenced to six years in prison for his participation in the Mike G Deal.
Glaspie, 72, will surrender himself to the BOP on February 14th, 2024. He has also been ordered to pay a $2.4 million monetary judgment.
In handing down Glaspie’s sentence, his presentencing objection to the amount his victims lost was upheld.
The court however rejected Glaspie’s request for a downward variance on his sentencing, instead opting to vary upward (increase the penalty).
This variance adjustment resulted in a longer sentence than the maximum 57 months the DOJ requested (4.75 years).
If he makes it out alive, Glaspie will be subject to a further three years of supervision on release. Either way, Glaspie’s scamming has come to an end.
Restitution with respect to Glaspie’s Mike G Deal victims is to be determined at a later date. This likely ties into the sentencing of Glaspie’s co-defendants, Neil Chandran and Bryan Lee.
A Status Conference for Chandran’s and Lee’s respective criminal cases is scheduled for November 7th.
Parallel civil fraud proceedings initiated by the SEC also hinged on Glaspie’s sentencing.
Upon being criminally convicted and sentenced … Glaspie will be collaterally estopped from contesting liability in this case and the SEC intends to promptly move for summary judgment on that basis.
It’s expected the SEC will file for summary judgment against Glaspie in the coming weeks.
Update 29th April 2024 – As per the BOP, Glaspie is now in federal custody.
Glaspie, who is now 73, is being held at FCI Butner. Glaspie’s stated release date is June 2nd, 2029.
Government please don’t leave them to go Free. I’m a victim to this fraud.
They have scammed me with their fake Business several times. I lost more than 5000 dollars from this people
Why did they wait until Feb, he should be going directly to jail. (and the key thrown away).
What he did to so many, is unforgiving. Telling us he was a man of God, makes it even worse.
He may only get get 6 years in life, but his sole is dammed forever.
His sole is damned?
Nobody likes the guy but why take it out on his fish?
The courts should go after all his assets and pay all his victims, he took me for 27,500.
I had friends that trusted me that also failed victims of this individual he should never be let out of jail let him die in prison.
For all those that were conned and scammed there can be not contentment in the amount of time Mike G is to serve. It should have been longer and there were others that enticed other members of the public to loan money into this venture.
I have to wonder if the authorities will continue to look at them because they were not innocent in enticing others to loan the money.
And let’s face it there was another major player in all this and SHE stole thousands for her own personal use. She may have been fined, but that is not enough for what she has done to over 1100 people she recruited.
Justice HAS to be done for EVERYONE they stole from.
Mike G’ house is on the market and those funds will be used by the Law to make sure they go where they should do, but whatever is recovered, l doubt that many members would see very much on their returns.
His Soul is stained with the evil and sadness he has caused. Jail IS the place for him.
I believe that the sentence is not long enough for MikeG ruined so many lives. There were people committing suicide over their losses.
I also feel MikeG should have gone straight to jail. Why does he get to spend all the upcoming holidays with his family?
MikeG used his influence and presented himself as a Christian all the while scamming millions from people who put their trust in him.
God will be the ultimate judge; and MikeG will have to give an account for his actions!
I pray we would be able to get our investment back. It is sad that he would scam so many people out of their hard earned money.
He promised this deal will make us wealthy. But it was all a lie.
The judge gave him more time than the prosecution had recommended. I think they were recommending 46-57 months, and the judge gave him 72 months.
While a small consolation he got more time that was being recommended, at least it wasn’t less time as has happened in other cases.
Not sure but I think it is possible that this is the maximum sentence the judge could give him in this case.
I am surprised that he will be at home for the Holidays, and wonder why he was not taken into custody to be taken to jail to begin his sentenced.
Here in the UK once you are sentenced you go straight to jail. Looks like they do things different in the States.
One thing is certain he will never be able to scam anyone ever again.Now we need to see ALL the others that were dealing in the same scam to be brought to Justice.
Elizabeth, the judge is allowing Glaspie to have surgery on his neck later in Oct., as well as rehab from the surgery before incarceration in February 2024.
Janet, well that is just great for him that he gets his surgery and rehab, but l will not be in a position to get my Lung treatment, after all the false promises and lies this guy spouted from him lying mouth. And the thousands $$$ of stolen funds used by others in this scam for their own personal use.
I tried to help out many people usingmy own funds I made teaching. A few contributed more of their own suggestion. I paid them all back with my own funds.
They should all stay in jail until all of the invested funds have been repaid to the investors! Including Linda Knott!
They will all soon know how feels to be behind bars inside the jail.
We still do not know what has happened to Linda Knott, even though she has spent some of our money for herself.
I lost 13,500 USD to this evil man who do I contact to be put on the victims of the Mike G Deal list?
Im in Canada and have no idea how to proceed. 6 years? I waited 4 years then he was arrested… he hurt so many people in this.
Someone else invested for me, as I knew it was a scam as soon as I read “The Deal”. Greed cost all of you your money. (your greed and Mike’s)
“God” would not back this kind of deal either, and that should have also thrown up red flags for “investors”.
The false promises and storylines he provided on a weekly basis kept us all praying for some ultimate payout. Full well knowing the false end from the very beginning.
Yet he kept perpetuating these elaborate lies about the Korean Bankers and Old Man going to Hawaii etc,” Oh we’re just days away”. We need to raise this much to keep operations going.
It’s simply demonic to think someone would mess with people’s hopes and dreams. Hope he sustains a miserable rest of his pathetic life!!
Another blatant red flag was the exotic cars. How can people be so easily deceived?
Mike Glaspie, Neil Chandran and Garry Davidson scammed me out of 30k. They also scammed others that I met through his daily pitch.
6 years is too little for what this man did. He and his cohorts are professional con artists.
Now they will go to prison and find they have new friends waiting for them inside the prison. If Mike G never sees daylight outside the confines of his cell, the world is better off.
Neil Chandran and Garry Davidson knew they were screwing people. The daily narrative was a collaboration and none of what they referenced was real or true.
I lost about $750.
I fail to understand why people lost large amounts. When ever something sounds extraordinarily great be careful. I viewed this the same as lottery.
There have been several times my friends and I pooled our money, sometimes it worked out others didn’t.
But please take some personal responsibility for the money you “ invested”.
Lying to yourself might have saved you a few dollars in this instance.
It doesn’t change the fact the MikeG Deal was financial fraud that duped a ton of money out of people.
Greed is what scammed you out of your money, Mike’s and yours.
The duped folks volunteered to be duped.
This man is pure evil. Cynical SOB. we all got scammed . so many of the people i work with like 12 – 15 people. How are we going to recover this money.
He needs to be punished and long jail time. Evil evil evil.
any class action law suit happening so we can get our money back. ??
A class-action lawsuit isn’t going to do anything with a criminal and civil case filed.
I can tell you that at least 10 of my work friend and my self where conned by the filth of the earth.
He needs to spend alot more time in jail than just 4 years. He needs to return our money with interest.
I could have sent this money to people who need it, or my charity. I am beyond upset.
Any chance any of us will see this money back. Any class action law suits to recover money?
When you invest into a scam your money isn’t just sitting somewhere waiting for you to come pick it up.
Your money is gone. Glaspie received only a small portion of what was paid in.
Restitution will depend on what is recovered through the criminal case and SEC’s civil action.
How could anyone actually believe the supposed payouts that were promised?
Anyone who paid into this did so out of greed. Take your medicine and learn your lesson.
Many of us who invested did not think twice. I trusted friends in the finance industry with degrees and wall street back ground.
we Did not ask any questions, we trusted him/her completely. Lucky for a few of us we only invested very very little.
No meds needed. what we need is to trust no one even friends close to you.
The justice department send me a form to fill out. and to everyone who was scammed this is easy to find. The case comes up when you google it. It’s worth fillling out the form.
Lesson learned for sure.
I was a victim I trust what he was saying, hope we can get back whT we invested.
The money you invested is gone. If you’re lucky you’ll get partial recovery through ordered restitution and civil penalties.
After the “big guy” gets 10%. lol
You can get more information including the form needed for your claim by just going online to United States vs Chandran. Scroll down to find info for Victim Statement.
I am glad I only lost bonus money as well as the government stimulus money that I received. I felt in my heart that it may not have been an honest opportunity to be a part of but the weekly calls with everyone was so comforting and reassuring.
Just the thought of the possibility of being wealthy was well worth it.
justice.gov/criminal-vns/united-states-v-chandran
God willing he will die soon.
Instead of Mike G having surgery on his neck, his head and neck should be placed in a guillotine, and you can imagine what happens next.
Therefore, there would be no need for incarceration.
For money? Good grief. Only a fool would have fallen for this scam. A greedy fool.
Anyone know why he hasn’t reported to prison yet???
The usual “I got caught so now I’ve got medical issues” stuff.
This is from a Jan 31st order;
Article updated to note Glaspie is now behind bars.
It’s about time he went behind bars! He scammed me in the 80s.
To those who thought we invested out of greed okay many probably did but also many of us had good intentions to help others less fortunate.
so don’t lump us all into one category and mike g should rot in prison along with his partners in crime for the rest of their rotten lives.
I also heard some investors were driven to suicide so I think manslaughter should be included too or whatever it is called where someone is driven to suicide due to the actions of another.
Riiiiiiiigh…..t. People invest in fraudulent investment schemes to enrich themselves, otherwise known as greed.
Investors in such schemes commonly come up with excuses, ala “I was just trying to help people!” Otherwise they have to face the fact that greed is what led to their predicament.
MikeG is in prison and rightfully so, but don’t try to whitewash why you and others invested into an obviously fraudulent investment scheme.
I’m with Oz. The exotic cars alone should have been a dead give-away, no pun intended.
Also, for every winner, there is a loser. Imagine how many people would have had to lose their fortunes to finance this ridiculous payout.
How many of you “investors” stood tall with Mike G. when people were attempting to expose him/this deal on his weekly or so updates. (answer) All of you.
You don’t need to be rich to help someone, it means way more to give your time or of your meager possessions.
Well no matter our intentions here to do whatever with the funds we thought we would recieve , it was done by a very bad person. He stole from us for his own benefit. He should stay in prison forever as far as I am concerned.
If we get a penny back for every dollar we lost then it should be. Some had invested into the 100,000 and beyond I heard. Hopefully we hear something from all the assets they had come into.