A marketing company’s CEO broke down in tears and blubbered about how badly he hurt his own children, as he was sentenced to 42 months in federal prison Wednesday for wire fraud and tax evasion.
Michael Mitrow, 48, wept openly and described the embarrassment his kids suffered because of his crimes — which included taking more than $1 million meant for his company and using it to pay for private jets and gifts to “paramours.”
“My children were subjected to countless hours of mocking in school and on field trips and sporting events,” said the New Jersey resident, who pleaded guilty in January in Manhattan federal court. “I spent hours wiping tears away from their eyes, knowing I was the one who caused it.”
Mitrow allegedly collected kickbacks in exchange for steering business from his company, Marketing Agency, to an Arizona printing and mailing company.
“I stand before you a humble and remorseful and broken man,” he said.
Federal prosecutors, however, weren’t buying Mitrow’s claims of redemption. “Mitrow’s crimes were motivated by unmitigated greed, arrogance and an unadulterated sense of entitlement,” prosecutors wrote in court papers.
“The defendant stole . . . because he believed that he was entitled to fly on private jets to exotic locations, spend thousands of dollars at five-star restaurants, build a yacht and shower himself, family members, friends and paramours with expensive gifts.”
Mitrow’s younger brother Matthew also took advantage of the illegal loot, feds say. He spent $39,000 on home renovations, $30,000 to pay off credit cards and $19,000 to settle a tab at a strip club, prosecutors said.
Manhattan US Attorney Preet Bharara bashed the fraudster. “Michael Mitrow defrauded the marketing agency that he led as its CEO out of over $1 million, using it to pay personal expenses including $600,000 to fly in private jets,” Bharara said in a statement.
“His fraud and his failure to report the proceeds as income resulted in a federal conviction for Mitrow. At his sentencing today, he learned that the price of his crimes is not only repayment of the ill-gotten money but also the loss of his liberty.”