Jennifer Sultan Blows Through $70 Million Fortune, Pleads Guilty to Selling Drugs

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Jennifer Sultan had a bright future ahead of her a few years ago after she graduated from New York University and sold a tech startup called Live Online for $70 million.

At the young age of 25, Sultan’s multi-million dollar status left her with too much freedom, and she eventually blew all of her money and landed herself in jail.

She failed several times at starting up a few more tech ventures before she started developing an interest in holistic health.

Somehow, this led her to develop an addiction to painkillers.

On Friday, Sultan, 38, pled guilty to selling painkillers and attempting to sell a firearm. She is to spend the next four years in prison, but her initial sentence was five times longer.

Her involvement with crime started last year, when a city narcotics investigator found an ad posted by Sultan on Craigslist, offering to sell prescription painkillers. At the time, she was still living in a penthouse in Manhattan’s Union Square that she bought before she blew her fortune.

Authorities met with her in an undercover sting on five separate occasions from February through June. One of the stings took place at a Starbucks on Union Square, and another took place at a Starbucks in the Flatiron district. She sold 183 oxycodone tablets to the officer for $4,400 at that time.

After further investigation, authorities discovered Sultan was part of a ring that sold prescription drugs and guns. Aside from Sultan, four others were arrested. One was a former New York City police officer named Nicholas Mina. He agreed to serve more than 15 years in prison as part of a plea bargain where he admitted to stealing guns from his colleagues’ precinct house lockers and selling them. Mina, too, was addicted to painkillers.

Though blowing through a massive fortune seems uncommon, it has happened before to another young entrepreneur. Andrew Fashion made $2.5 million but spent all of it by the time he turned 22 by purchasing porn and gambling.