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.

🤖 Quick Answer

What was Michael Glaspie sentenced for?
Michael Glaspie, aged 72, received a six-year prison sentence for his involvement in the Mike G Deal fraud scheme. He was ordered to pay $2.4 million in restitution to victims and must surrender to the Bureau of Prisons on February 14th, 2024.

Why did Glaspie receive a longer sentence than requested?
The court rejected Glaspie's request for a downward sentencing variance and instead applied an upward variance, increasing his penalty beyond the 57 months maximum recommended by the Department of Justice, resulting in a six-year sentence.

What additional obligations does Glaspie face after release?
Upon release from prison, Glaspie will be subject to three years of supervised release. He must also fulfill financial restitution obligations to victims of the Mike G Deal fraud scheme totaling $

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