Updates here:

http://searchjustice.usdoj.gov/search?q ... collection

I'll be suprised if he doesn't get at least 10 years. Sounds like from the article they are going to force the store closed. I'm sure he is in custody already. Maybe we won't get any more annoying emails saying he will make it right. He's probably wearing orange as we speak. I wonder if any charges will be made against his wife. She had to know.

Prosecutors are seeking the low end of sentencing guidelines. There’s a maximum sentence of 20 years for the charges of credit card fraud and making false statements. I’d be surprised if he gets more than 10 years.
“Levy's plea agreement, filed in U.S. District Court in Boston Friday, calls for a freeze on his assets, but mentions nothing requiring the business to close.”
He’s not.
There’s no evidence his wife knew anything about his scheme.

Seems like with today's corrupt legal system 50 years actually means about 5 years, 3 with good behavior.

If his assets have been frozen then things depend on the type of business filing he had. If it was a sole proprietorship then the shops assets are also frozen. If it is a corporation then it's more complicated. Eventually the legal system will try to collect the restitution from where ever it can. Even a corporate filing will not save the shop. It may be forced into a bankrupt situation. Time will tell.

All of this is speculation. When solid news comes out I'll reopen this thread.