Ex-Billionaire Gets 7 1/2 Years for Defrauding Goldman, Google

A former jet-setting Chicago billionaire was sentenced to seven and a half years in prison for a $1 billion fraud at an advertising startup that included investors such as Goldman Sachs Group Inc., Google parent Alphabet Inc. and Illinois Governor JB Pritzker’s venture capital firm.

Rishi Shah, 38, the co-founder of Outcome Health, which provided ads on TVs in doctors’ offices, was convicted of more than a dozen fraud and money laundering charges by a federal jury last year. He and two other Outcome executives were sentenced last week in Chicago by US District Judge Thomas ...