Michigan Real Estate Guru Gets Prison for Stealing $23M to Chase Lottery

A Detroit real estate executive who became obsessed with a system he believed was guaranteed to win the Michigan Lottery was sent to prison for 53 months on Wednesday for bilking investors to buy tickets.

Viktor Gjonaj was the founder of the initially successful Troy-based real estate firm Imperium Group. But in 2015, he became convinced he had found a way to win big jackpots by buying tickets in sufficient volume.

For that, he needed capital, and when he ran out of his own, he began to steal it. Gjonaj was so consumed by his system that by 2019 he was spending $1 million per week on tickets. In all, he conned investors out of more than $23 million.

From Lottery System to Ponzi Scheme

Once Gjonaj had run Imperium into the ground, he formed a new company, Title Plus. He told investors he would plow their money into real estate deals that promised eye-catching returns. But it was a sham company, a Ponzi-based vehicle for his lottery fixation.

But Gjonaj’s lottery system clearly wasn’t up to scratch. Finally, as his world unraveled, the father of four turned himself in to the feds.

This was an “extraordinary acceptance of responsibility,” he added.

“Viktor Gjonaj was a well-respected businessman who, unfortunately, developed a gambling addiction that led to this situation,” said Fishman. “His addiction was well-known to the state of Michigan, which, nevertheless, allowed him to keep gambling.”